Main Capital backs Onventis

The GP drew equity from Main Capital V, which closed on €236.5m in 2017. The fund makes investments with an initial ticket size of €3-5m and add-ons of up to €20m.

The Onventis management team reinvested in the company following the transaction and will act as joint shareholders with Main Capital. The management team and Main Capital are the only shareholders, with all previous shareholders now having exited.

The firm will support Onventis in its international expansion plans and pursue bolt-on acquisitions, according to a statement.

The company generates €1.5m in EBITDA and aims to generate €20m in revenues over the next five years.

Previous funding
3i and Sapphire Ventures invested €2m in the company in 2000 and another €2m in 2001. 3i provided an investment of €1.19m in 2002. Onventis is no longer part of either firm's portfolios.

S-Kap Beteiligungen, Heidelberg Capital and L-Bank invested in the company in 2015.

Company
Onventis offers an online procurement platform that allows buyers and supplies to manage their supply chains from sourcing to payment. The company was founded in 2000, is based in Stuttgart and focuses on companies in the German Mittelstand.

People
Main Capital Partners – Charly Zwemstra (managing partner).
Onventis – Frank Schmidt (CEO).

Advisers
Equity – Deloitte (financial due diligence); Carlsquare (corporate finance). 
Vendor – CMS (legal).
Company – CatCap (corporate finance).

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