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--- Connecting LPs & GPs worldwide
Netherlands private equity firm Main Capital Partners has sold its majority stake in policy administration systems supplier Actuera, to Waterland Private Equity Investments.
Actuera, based in Capelle aan den Ijssel, near Rotterdad, provides software solutions for insurance companies, pension funds and pension providers in the Netherlands. The company has an annual turnover of about €15m. European expansion is scheduled, prompted by the new European regime for Premium Pension Institutions (PPI), the company said.
Main Capital invested in the company through its second fund, Main Capital II, in 2006. After selling Actuera, the firm said it will continue to target the Dutch software industry with the recently launched investment fund Main Capital III. The fund is targeting €65m with expected investments in the later-stage growth companies and management buy-outs in the software sector.
Managing partner of Main Capital Partners Charly Zwemstra, said, “In the past five year, we have had an excellent cooperation with the Actuera management. With Waterland, a top private equity player has come onboard with which the new expansion phase can take shape. Main Capital Partners will be able to redistribute a very good return towards its funders. For them it means a very good return on equity and for us it means a confirmation of the success of our investment strategy. It also comes at a good moment now that we have just launched Main Capital III”.
For the past 50 years the software sector worldwide has grown an average of 11 per cent annually. Even in the tough year 2011 the sector grew 11 per cent worldwide. The software sector is also important in the Netherlands with an annual turnover of about €25bn, approximately three per cent of GNP, with nearly 25,000 companies and over 200,000 employees.
In July 2011, Dutch buy-out firm Waterland Private Equity announced a €1.1bn final closing of its fifth fund.
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Tags: software
