Main Capital sells RVC Medical to trade

Asked about the timing of the sale process, Main Capital partner Sven van Berge Henegouwen told Unquote: "We had been invested since 2014 and managed to more than achieve our goals with RVC – we tripled revenues, grew profits and recurring revenues, and acquired a German subsidiary. It was the right time for us and the company to sell. Nexus can help them take the next step and keep growing, and it fits with the management team's ambitions."

The sale was conducted via an auction process, van Berge Henegouwen told Unquote: "We ran a process with Oaklins. The company was very attractive in a number of ways, so we could have imagined selling to a strategic buyer or financial sponsor. We had a lot of interest on both sides, but I think Nexus is the right buyer for the company at this time."

Main Capital acquired RVC in 2014 via Main Capital III, which held a final close in June 2014 on €40m. The buyout was valued at around €5-10m, according to Unquote Data.

Main III now has two remaining platform investments, according to Unquote Data: supply chain management software platform Chainpoint and sales software company Sofon.

"We and our clients are very happy with the returns on the investment," van Berge Henegouwen told Unquote, but declined to comment further on the returns made on the sale.

Main Capital currently has a strong deal pipeline of exits, platform deals and add-ons, van Berge Henegouwen told Unquote. "We have an enormous amount of opportunities at the moment, the short-term pipeline looks fantastic for platforms and add-ons. We also have a few companies where we are opportunistically looking to divest. There will be multiple deal announcements before the end of the year."

Company
Founded in 1991 and based in Amersfoort, RVC Medical IT is a medical imaging software platform for use at diagnostic workstations in healthcare settings, including in radiology. Its software stores diagnostic images, documents, data and signals, and also aims to allow healthcare providers to coordinate workflow. The company has a market share of round 53% in the Netherlands and serves 41 hospitals, according to a statement. The firm also operates in Belgium and has a subsidiary based in Freiburg, Germany. It employs 70 people.

People
Main Capital – Sven van Berge Henegouwen (partner); Charly Zwemstra (managing partner).
RVC Medical IT – Joost van Geijn (CEO).
Nexus – Ingo Behrendt (CEO).

Advisers
Vendor – Oaklins (M&A); HSA (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

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