Main buys Enovation from Vanad

The GP drew capital from its fifth buyout fund, which held a final close above its original €225m hard-cap on €236.5m in December 2017.

The Vanad group is a family-owned industrial holding company with a portfolio of 11 companies in the communications and enterprise software segments. It will retain a minority stake in the business.

Enovation expects to benefit from the recently implemented European privacy regulation that reinforces the need for healthcare institutions to implement secure communication systems.

Main will support a buy-and-build strategy to expand Enovation's presence in north-west Europe.

Company
Enovation was founded in 1983 and is headquartered in The Hague. The company supports healthcare institutions with its information exchange procedures, both between institutions and with patients. The business employs 135 people and generates revenues of more than €10m, according to a statement.

People
Main Capital – Charly Zwemstra (managing partner).
Vanad Group – Arthur Nederlof (CEO).
Enovation – Jeroen van Rijswijk (CEO); Marcel van der Velden (vice-president).

Advisers
Vendor – ING Corporate Finance (corporate finance); NautaDutilh (legal).

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• Buyouts
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• Main Capital