Main Capital sells Connexys to Bullhorn

Details of the transaction were not disclosed but Main Capital reported the transaction is one of its "biggest exit successes".

Connexys reports 40% year-on-year revenue growth; at the time of Main Capital's original acquisition, Connexys generated revenues of around €5m.

Acquirer Bullhorn is majority-owned by US private equity firm Vista Equity Partners. Bullhorn stated it will use Connexys to accelerate its European expansion.

Previous funding
Main Capital acquired Connexys in April 2013 for an undisclosed sum. It was the second investment from the GP's third fund, which closed on €40m in June 2014.

Company
Connexys is a Dutch recruitment software developer, headquartered in Rotterdam and founded in 1999. Its main product is an applicant tracking system built on Salesforce's Force.com platform. It has 300 customers and is used by 20,000 recruitment professionals in Benelux, France and Germany. It employs 80 people and generated a turnover of €10m for 2016.

People
Main Capital – Pieter van Bodegraven (partner).
Connexys – Gijs van Heijst (founder, CEO).

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• Exits
• Benelux
• Technology
• Netherlands
• Main Capital
• Trade sale