Fresh from completing the first closing of its latest fund, Dutch private equity firm Main Capital has bought a majority stake in Sofon, a company that makes configuration, pricing and quoting software for businesses including Philips and Ricoh.
The current management of the company will continue to be shareholders and will lead the company through the next growth phase.
Dolfin Capital also co-invested alongside Main Capital III.
Financial terms of the deal were not disclosed.
Sofon’s software suite provides businesses with the opportunity to simplify, speed up and improve their sales process through generation of quotations, orders and contracts.
Main Capital will support the ambitious international growth strategy of the company that includes further expansion into Germany and the US.
The company has over 130 customers which include global multinationals such as Aebi Schmidt, Philips Healthcare, Ricoh Europe, and Tyco Valves & Controls.
“The CPQ software segment is growing over 25 per cent per year,” said Charly Zwemstra, a managing partner at Main Capital Partners.
“We are confident we can multiply the already established base of international revenue in the coming years.
“Sofon is extremely well positioned in this market, has superior products and strong management.’’
The fund, whose investors include Swiss fund of funds Akina, has a target size of €60m, with management committing at least €3.5m to the fund.
In the last several months the firm has sold two of its portfolio companies – insurance software-maker Actuera to Waterland Private Equity and Tedopres to Finnish-listed Etteplan.
Current investments include IASO Backup Technology, SecondFloor, Visionwaves, and EuroSystems.
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