Main Capital acquires Foconis

Main Capital was in contact with Foconis for a number of years prior to the deal, but the transaction itself took approximately five weeks to finalise following the submission of the letter of intent.

Main Capital intends to support Foconis's organic growth, which it expects to benefit from the increasing need for financial institutions to manage their internal processes and organisation to comply with regulation, the GP said in a statement. The GP will also pursue growth opportunities via add-ons. Main Capital has already identified a number of targets based in northern Europe.

The GP is deploying equity via Main Capital VI, which held a final close in May 2020 on €564m. The fund makes initial equity investments of €3-5m, focusing on software companies in the DACH, Benelux and Nordic regions. The fund can deploy up to €20m in add-on acquisitions.

Company
Foconis is a data quality, control and compliance software platform that serves clients in the financial services industry. Its client base comprises around 600 organisations and includes German savings and cooperative banks. Founded in 2000 and based in Vilshofen an der Donau, the company employs 80 staff.

People
Main Capital Partners – Sven van Berge Henegouwen (partner, head of DACH).
Foconis – Olaf Pulwey (board member).

Advisers
Equity – Deloitte (legal); Ebner Stolz (tax, financial due diligence).

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