Main Capital Partners said Feb. 11 that it sold its majority stake in Roxit Groep to Visma. Financial terms weren’t announced. Roxit is a Dutch governmental software company active in front-, mid- and back office applications.
Main Capital and Management realize successful strategic sale of Roxit to Visma
Den Haag, 11 February 2019
Together with management, Main Capital Partners is pleased to announce the strategic sale of its majority stake in Roxit to Visma, leading provider of business-critical software to private and public enterprises in the Nordic, Baltic and Benelux regions.
Roxit Groep is the leading Dutch governmental software company active in front-, mid- and backoffice applications including, among others: Permits and Code Enforcement, Spatial Planning & mapping, Web- & Enterprise Content Management and Underground Utilities solutions within the private and (semi-) governmental market. With an organization of nearly 250 people, Roxit Groep delivers SaaS solutions with an extensive range of functionalities to >500 customers throughout the Netherlands.
The customer base of the group consists of, among others: all of the Dutch municipalities, water boards, provinces, safety regions, environmental agencies, network operators, contractors and universities. Key customers include the Drechtsteden, the Provinces of Limburg and Overijssel, VodafoneZiggo and Alliander.
Main Capital Partners invested in Roxit in 2015 with a focus on accelerating the organic growth in existing markets. Next to that, the strategy was focused on broadening the reach and product-suite across all verticals of the (semi-) governmental software market by pursuing selective acquisitions in adjacent segments. As part of this strategy Roxit Groep has acquired 5 companies in the first 2,5 years of its collaboration with Main Capital. The companies Green Valley, Crotec, Cebes, PSMS and Brein have joined Roxit and now collectively form the Roxit Groep, which has become a leading player in front-, mid- and backoffice software.
Visma has grown its presence exponentially in the Dutch market following a number of acquisitions over the last 12 months, which include Visma Connect, Raet, Proactive, Idella and Pink Web. By acquiring Roxit, Visma continues its advancement in the Netherlands, with now around €285m in revenue and over 2,000 employees in this highly strategic region, strengthening its leadership in the European market.
Charly Zwemstra (Chairman Supervisory board Roxit Groep and Managing Partner Main Capital Partners): “We have had a strong strategic collaboration with the management of Roxit Groep over the past 3,5 years. In this period, Roxit Groep evolved from a challenger to a leading player in the governmental software market, where its solutions are currently used by every municipality across the Netherlands. It was a natural time for the company and management to take the next step. In our opinion, joining Visma is the best way to accelerate management’s envisaged strategy. We congratulate Roxit Groep with their new home and Visma with this great addition to their group”.
Rob Steneker (CEO of Roxit Grop): “In good cooperation with Main Capital we have strengthened the position of Roxit Groep in recent years. Both policy-based and technological developments ask for continuous innovation, investing and cooperation. The mission, vision and values of Roxit Groep and Visma show strong similarities. We therefore are convinced of being able to continue our growth strategy as part of Visma and offer a stable and good future for both our customers and employees.”
About Roxit Groep
Roxit Groep is one of the leading players in the Dutch private and (semi-) governmental software market. Roxit Groeps products are used in Permitting & Code Enforcement, Spatial Planning & Mapping, Web- & Enterprise Content Management and Underground Utilities. Roxit Groep acquired Green Valley, Crotec, Cebes, PSMS and Brein between 2015 and 2017, forming a leading player in mission critical front-, mid- and backoffice software.The product portfolios of the companies within the Roxit Groep are complementary to each other and provide a strategic fit as well as many synergistic benefits.
Visma offers software and services that simplify and digitise core business processes in the private and public sector. The Visma group operates across the entire Nordic region along with Benelux, Central and Eastern Europe. With 8,500 employees, more than 900,000 customers and net revenue of NOK 11,389 million (EUR 1,171 million) in 2018, Visma is one of Europe’s leading software companies.
With the addition of Roxit, Visma is now the largest independent provider or cloud software in Benelux, with revenues of over €285m. Visma provides a full suite of accounting, ERP, payroll, HRM and related applications to both business and government sectors. Our aim is to be the largest and most customer friendly provider for any company in the Benelux region, wanting to use modern, cloud-based software to run their business efficiently.
About Main Capital
The current portfolio of Main Capital includes rapidly growing software- and SaaS software companies like Cleversoft (Germany), Enovation, SDB Ayton, Jobrouter (Germany), GOconnectIT, Verklizan, Inergy, MUIS Software, Artegic (Germany), OBI4wan, b+m Informatik (Germany), Ymor, Roxit, OnGuard, ChainPoint, RVC, and TPSC. Moreover, Main Capital also holds a majority stake in multi-cloud hosting provider Denit. Main Capital was previously involved with successful groups like Axxerion, Regas, Connexys and ABIT / EuroSystems.
Main Capital is a strategic investor with an exclusive focus on the software sector in the Benelux, DACH and Nordics regions. Main Capital has a long-term investment horizon centered around successful partnerships with management teams, with the goal to, jointly, build larger software groups. Within the software sector, Main is the most specialized company in management buyouts and later-stage growth capital. Main Capital has approximately € 400 million in assets under management for investments in mature and growing software companies. The investments are managed by an experienced team of investment professionals, located in offices in The Hague and Düsseldorf.
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