Review of 2015 – Happy New Year!
On behalf of all employees of Main Capital Partners we wish you a happy, healthy and successful 2016!
The year 2015 was successful for Main Capital Partners with the launch of private equity fund Main Capital IV and the first acquisitions in the German market. Furthermore, we have realized a record number of transactions, extended our team to 16 colleagues and our events attracted more visitors and attention compared to previous years. All the news can be found in the new Knowledge Center on our website (www.main.nl). The markets in which we are active, such as Software and Technology, Media & Telecom (TMT), have been characterized by strong (international) growth and consolidation. We expect this trend to continue in 2016. We would like to share the highlights with you in this overview. For 2016 we expect to increase our investments in both new private equity stakes in software companies as well as providing new mezzanine loans to companies in the TMT market. We thank you for the pleasant cooperation in the past year and we look forward to another active year in 2016! Lars van ’t Hoenderdaal Charly Zwemstra
Main Capital In 2015 we have launched a new fund, Main Capital IV (€ 85M), which focusses on successful, growing and profitable software companies in the Netherlands and in Germany. Main Capital IV was oversubscribed. In total Main Capital Partners has around € 150M capital under management. In 2015 we expanded our portfolio with the following companies:
Main Capital acquired majority shareholdings in Roxit, a software group with focus on municipalities, regional agencies and provincial governments, Ymor, an IT performance management software and services group, and b+m Informatik, a German (Fintech) software group for banks and insurance companies. The focus of Main Capital is on improving the international position of the portfolio companies, expanding a partner network and realizing growing recurring revenues (and profitability). Part of the strategy is expanding the portfolio companies by facilitating add-on acquisitions. Both for Saas healthcare company Regas and for Roxit we facilitated the following add-ons:
In 2015 Main Capital realized successful exits of Zetacom (sold to Gilde Healthcare) and VisionWaves (sold to IFS) with attractive returns for our funders!
Industry Events For the fourth consecutive year we organized the Main Software 50. With this event we bring more attention to the software market as a whole. The event, where René de Monchy (BNR News radio) was host and Peter Jacobs (CIO ING Nederland) was keynote speaker, attracted a growing number of visitors compared to previous editions. The winners of 2015:
Click here for a video summary of the Main Software 50 Event. In addition to the Main Software 50, we also organized the Main Insight Event. The theme of this event was Marketing automation strategies for software companies. Finally, we organized the second edition of the Main CTO Event. This is an event for CTOs of our portfolio companies and close relations and is centered around developments and trends of Technology platforms and software development. Guest speaker was Ronald Dähne, CTO Exact.
Main Mezzanine Capital Since the launch of Main Mezzanine Capital in 2014, we have extended our portfolio as well as the number of funders. Currently, our portfolio consists of 5 companies, all active in the TMT market. The types of financing are divided over an interesting mix of growth financing, share repurchase and management buy-outs (MBO). In 2015 we have provided mezzanine loans to marketing & communication company The Valley to facilitate their growth and to ICT services company Lunatech to finance an MBO.
Main Corporate Finance In 2015 our advisory practice has successfully completed several transactions, including:
- 5 M&A transactions
- 5 MBOs
- In total we arranged over € 40M bank debt at three Dutch banks (ABN, ING and Rabobank), comprising a mix of MBO-, acquisition- and working capital financing.
A selection of our transactions: