Main acquires HR and payroll software provider BCS

Main Capital Partners today announces to have acquired a majority stake in Dutch human resource management and payroll software provider BCS.

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Main Capital Partners
28/04/2022

Main Capital Partners (“Main”) today announces to have acquired a majority stake in Dutch human resource management (“HRM”) and payroll software provider BCS. With the support of Main, BCS aims to further expand its strong position in the human capital management market throughout the Benelux.   

BCS has over 40 years of experience in providing core HR and payroll software solutions and supporting services. The company has an extensive product offering which includes solutions for salary administration, employee benefits, hours registration, workflow management and personnel planning. Their product suite was further expanded following the acquisition of Polaris in 2019, enabling BCS to accelerate its SaaS business and offer integrated HR software solutions.

BCS enjoys a unique position within the HR and payroll market segment, delivering both software and services to small and medium sized companies in the Netherlands. The solutions are currently provided to more than 2,300 clients across the Dutch market.

Accelerating growth in the HR and payroll market
Within the HR and payroll market segment, Main believes there are multiple growth opportunities, both organically and through buy-and-build strategy. Though rather mature, the human capital management landscape is both a stable and fast-growing market with several consolidation opportunities. Payroll and HRM are among the most interesting software segments which show high growth potential. This is said as managing human resources effectively has become much more important today owing to cost management pressures, increased demand for employee wellbeing and the high fluctuation of talent.

Main has extensive experience in the payroll and HRM market through previous investments in Germany, the Netherlands and Sweden, such as Perbility (HR software), SDB (HR payroll solutions for healthcare institutions), Textkernel (AI software for HR) and Assessio (e-assessment tools and talent management). This experience and market knowledge will be used to support BCS in the next phase of growth.

Joep Eijkens, CEO at BCS, comments: “We have developed BCS independently over the past period while focusing on innovating our software and increasing of our market share. Through autonomous management and several complementary acquisitions, we were able to achieve a strong market position. With the backing and expertise of Main we can now set new growth records and offer our customers an even more complete and innovative range of products.”

Charly Zwemstra, CEO at Main, says: “We are excited about this strategic partnership with the strong management team of BCS. Together we will explore various growth opportunities within the currently active sectors, but also through expansion into adjacent sub-segments, to further strengthen its position in the broader human resource software market.”

About BCS
BCS, founded in 1978, provides modern HR and payroll solutions and services to the SME market in the Netherlands. Solutions include salary administration, workforce management, leave management and employee benefits. The company has about 115 employees who serve more than 2,300 customers from its office in Den Bosch.

About Main Capital Partners
Main Capital Partners is a leading software investor in the Benelux, DACH and the Nordics. Main has almost 20 years of experience in strengthening software companies and works closely together with management teams of its portfolio companies as a strategic partner, in order to realise sustainable growth and build excellent software groups. Main counts over 50 employees and has offices in The Hague, Stockholm and Düsseldorf. As of October 2021, Main has over EUR2.2 billion of assets under management. Main has invested in more than 130 software companies to date. These companies have created jobs for approximately 5,000 employees.

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