Main-backed Hype buys HPL

Main Capital supported the acquisition via a contribution of additional equity.

The acquisition intends to strengthen Hype's market position, according to a statement. The add-on is the company's first during Main Capital's investment period.

The GP acquired Hype in April 2019, deploying equity via Main Capital V, which held a final close in December 2017 on €236.5m, according to Unquote Data. The fund deploys equity tickets of €3-5m with up to €20m available per company. The GP said in a statement issued at the time that it intends to pursue add-on opportunities in the innovation management software sector.

Following the consolidation, the combined companies will have 150 employees and will report revenues in the €15-20m range.

Company
HLP provides idea management software for medium-sized and larger companies to compile and analyse suggestions and ideas submitted by their employees. According to its website, its clients have included a number of German corporates such as Commerzbank, Leoni and Ceramtec. HLP was founded in 1997 and is based in Eschborn.

People
Main Capital – Charly Zwemstra (managing partner).
Hype – Frank Henningsen (CEO).
HLP – Nils Landmann (CEO).

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• Topics
• Expansion
• DACH
• Technology
• Build-up
• Acquisition finance
• Germany
• Main Capital