Main Capital Partners announces its largest strategic exit to date with acquisition of Enovation by Legrand after successful partnership

Legrand is a French publicly listed specialist in electrical and digital building infrastructures and digital care solutions, dedicated to supporting technological, societal and environmental change around the globe. Under Main’s stewardship, Enovation expanded its market-leading position in the healthcare industry and successfully became one of the few healthcare software providers to cover a wide spectrum of the connected care ecosystem with a presence in Northwestern Europe. This strategic exit represents yet another successful exit for Main in one of its core product-markets and marks Main’s largest exit in its history.

In 2018, Main Capital Partners made its strategic investment in Enovation and started its collaboration with the management team of Enovation. During its cooperation with Main, Enovation transformed its profile significantly from a secure communication and information exchange vendor in the Dutch healthcare market, to a leading European connected care and eHealth platform provider focused on digital care and collaboration throughout the entire patient journey, currently employing around 300 FTE.

Supported by Main, Enovation significantly grew its software businesses, both organically as well as through eight selective strategic add-on acquisitions that broadened the company’s product portfolio and expanded its addressable market. Main’s CEO Charly Zwemstra has served as Chairman of the Supervisory Board during Main’s investment period, in which, Enovation’s revenues nearly tripled and the international footprint improved significantly from a primary focus on the Dutch market to activities in almost 20 countries. Enovation is well positioned to further capitalize on these achievements in the coming years, contributing further to digitizing the healthcare sector throughout Europe. This step of joining Legrand, enables Enovation to leverage their joint expertise and knowledge in order to continue on Enovation’s mission to contribute to an efficient healthcare system, making good care accessible to everyone, everywhere, at all times.

Jeroen van Rijswijk, CEO of Enovation, comments on the combination with Legrand: “During our successful partnership with Main over the past six years, Enovation was able to substantially improve its international profile and market position. Main moreover helped us to create further value in healthcare by enhancing the care experiences of patients across the European healthcare industry. This new chapter marks a wonderful next step for Enovation and we are excited to join Legrand and serve our clients even better, as we now have access to a lot of new expertise as well as great international execution power.”

Benoît Coquart, Legrand’s Chief Executive Officer, adds: “We are very pleased to announce this investment in areas that are at the heart of buoyant trends and as such, of our growth acceleration strategy. We are also excited to work with the teams of these industry-leading companies.”

Sjoerd Aarts, Partner & Head of Benelux at Main Capital, concludes: “We supported in expanding Enovation’s product proposition and increasing its international footprint across North-Western Europe, transforming Enovation’s profile into a market-leading software player in healthcare. This successful partnership within one of our core product-markets once more underlines the added value of our highly specialized investment strategy, and culminated in a milestone exit for Main. We congratulate Enovation on this new chapter, joining Legrand.”