Main’s Roxit to merge with Green Valley

The combination of Green Valley and Roxit will see the former's 65 Delft-based employees join Roxit's 100-strong workforce across offices in Zwolle, Arnhem and Zoetermeer.

According to the two businesses, the merger will help make the most of mutual synergies, as Green Valley, a front-office software developer, will fill Roxit's gap in that department.

Main Capital invested additional equity to support the acquisition of Green Valley. The bolt-on is the first since the software-specialised GP became a majority shareholder in Roxit in July. The buyout, financed via Main Capital's €40m third and €85m fourth funds, saw the management team co-invest in return for a minority stake, according to unquote" data.

Main Capital, which stated at the time that the deal was its most significant to date, announced Roxit would pursue growth via a build-up strategy. As part of that plan, assets would be considered within the local government sector, with a focus on information exchange, stakeholder cooperation and adaptation to regulatory changes.

The strategy mirrors that of Ymor, a Main Capital-owned application performance management service that is looking to expand internationally via add-ons. The asset was bought by the GP in late September, three weeks after its fourth software-focused fund closed on €85m.

Company
With headquarters in Delft, Green Valley is an information and communications technology software developer. Its client base includes public authorities, organisations and businesses. Founded in 1998, the firm employs around 65 professionals.

Established in 2007, Zwolle-headquartered Roxit develops a software suite used by around 380 policy-makers, city planners and businesses for licensing, inspection, planning and enforcement purposes. With 90 employees, the company's revenues remain confidential; Main Capital's third fund usually seeks companies generating sales in the €3-10m region.

People
Managing partner Charly Zwemstra led the deal on behalf of Main Capital. Rob Steneker is CEO at Roxit, while Rens Boogerd is director at Green Valley.

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• Topics
• Benelux
• Expansion
• Technology
• Netherlands
• Main Capital
• Acquisition finance