Main sells Obi4wan to PE-backed Spotler

Main acquired a majority stake of around 55%-60% in Obi4wan and social media analytics business Obilytics in July 2016. At the time, Main was deploying equity via its EUR 85m, 2015-vintage Main Capital IV vehicle.

According to Unquote Data, ABN Amro provided senior and junior debt to back the original buyout.

Obi4wan posted revenues of around EUR 2m at the time of its acquisition by Main, according to Unquote Data. The GP said in a press release issued at the time that it intended to support the company’s international growth and the expansion of its product portfolio.

During the investment period, Obi4wan invested in scheduling, media monitoring, data analysis, and artificial intelligence technology, Main said in a separate statement, The firm also made two add-ons, acquiring Buzzcapture in 2016 and HowAboutYou in 2020.

Main Capital is now deploying equity via its EUR 1bn Main Capital VII fund and its new EUR 210m Main Capital Foundation vehicle, which targets earlier-stage deals that the firm’s flagship funds.

The GP’s recent exit activity includes the sale of Germany-based banking and insurance software developer B+M in a secondary buyout to software investor LEA Partners, which scored the GP returns of 3x money, as reported.

Software-focused sponsor CNBB Equity Partners acquired marketing communication software Spotler in December 2016. During the investment period, the UK-headquartered company has made a series of add-ons including Flowmailer in March 2017 and, most recently, Pure360 in November 2021.

Company
Founded in 2011, Obi4wan is an omnichannel customer service and marketing software platform. It provides services including webcare, intelligent live chat, chatbots, messaging, social engagement, and media monitoring. Its client base includes private and public organisations, including PostNL, ING and the municipality of Utrecht. It employs 75 staff.

People
Main Capital Partners – Charly Zwemstra (managing partner).
Obi4wan – Alexander de Ruiter (co-founder, CEO).
Spotler Group – Lee Chadwick (CEO).

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