Main Capital buys Oribi and Qics

The GP has acquired majority stakes in both Netherlands-based companies and the combined deal size is approximately EUR 20m.

Main Capital held a final close for Main Foundation I in October 2021, as reported, in conjunction with the EUR 1bn final close for its latest flagship fund, Main Capital VII.

The new Foundation strategy is intended to allow Main to take advantage of more market opportunities, targeting smaller businesses that the GP intends to acquire as standalone investments, rather than adding them to an existing platform as a bolt-on.

Main Foundation I expects to make 12-15 investments, generally deploying equity tickets of less than EUR 10m, with up to EUR 30m available per company. The fund targets businesses with enterprise values of less than EUR 25m.

The GP intends to support both businesses with the consolidation of their respective markets, according to a statement.

Main Capital said in the same statement that it has now acquired 35 businesses in 2021, marking a 152% increase on 2020's 23 deals.

Company
Oribi ID-Solutions provides identity and access management software, counting 70% of Dutch municipalities as customers. The company is headquartered in Oisterwijk and was founded in 1981.

Founded in 2000 and based in Katwijk, Qics provides process automation software for healthcare companies with the aim of assisting them with their ongoing digital transformation. Processes covered by the software include planning, timesheet registration and invoicing.

People
Main Capital Partners – Charly Zwemstra (CEO).

Advisers
Equity – HAS Lawyers (legal); BDO (corporate finance).
Vendor (Oribi ID-Solutions) – RWV Advocaten (legal); Joanknegt (corporate finance).
Vendor (Qics) – Bolt Law (legal); Orange Sky Ventures (corporate finance).

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• Topics
• Buyouts
• Benelux
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• Main Capital
• Netherlands