Deloitte Legal advises Main Capital Partners in acquiring a majority stake in Onventis
A Deloitte Legal team led by Dusseldorf-based Corporate/M&A-Partner Felix Felleisen has advised Main Capital Partners, a European private equity investor with an exclusive focus on the software industry, in the acquisition of a majority stake in Onventis, a cloud-based platform provider for e-procurement located in Stuttgart, Germany.
Through its rich set of functionalities, Onventis software offers both buyers and suppliers a user-friendly and fully-integrated suite to connect, automate and control the entire procurement chain from sourcing to payment. Following its formation in 2000, Onventis has quickly grown into a leading, open procurement solution for the German Mittelstand. The Onventis procurement network channels more than EUR 5.5 billion purchasing volume per year for approximately 350,000 users and 35,000 suppliers globally.
Looking forward, Main Capital will actively support Onventis in maintaining its strong growth momentum by further internationalizing the business and extending the value proposition for its customers. Besides organic growth initiatives, strategic add-on acquisitions will be an important pillar of the growth strategy to complement the innovative product and services portfolio, further broadening the geographical footprint as well as consolidating the market position. Former co-shareholder and managing director Frank Schmidt will stay on board. Further members of the Onventis management team have also participated in the transaction by means of a reinvestment, which will aid in fostering their position by partnering with Main Capital Partners as co-shareholders.
“Our Deloitte Legal Germany transaction team led by Dusseldorf-based lawyers Felix Felleisen and Max Lüerßen have again demonstrated that they can help us achieve our goals even where transactions are time critical and complex.” says Sven van Berge Henegouwen, Partner Main Capital. “Also with their help, we were able to come up with a transaction and participations structure which allows us to combine our interest with the interest pursued by the members of the Onventis management team and will enable us to support Onventis in the further expansion and further rollout of our open procurement network.”
Advisors to Main Capital Partners:
Deloitte Legal: Felix Felleisen (Partner, Dutch Desk, Corporate | M&A, Dusseldorf, Lead), Max Lüerßen (Counsel, Corporate | M&A, Dusseldorf, Co-Lead), Frauke Heudtlaß (Partner, Employment Law, Dusseldorf), Dr. Fleur Johanna Prop, LL.M. (Counsel, Dutch Desk, Corporate | M&A, Dusseldorf); Pia Knauf, LL.M. (Senior Associate, Corporate | M&A, Dusseldorf), Alexander Roehl, LL.M. (Associate, Corporate | M&A, Dusseldorf).
Deloitte: Ines Leffers (Partner, M&A Tax, Dusseldorf), Uwe Janssen (Manager, M&A Tax, Dusseldorf); Jan Verleysdonk (Partner, Transaction Advisory Services, Dusseldorf), Matthias Keller (Director, Transaction Advisory Services, Dusseldorf).
The cloud-based procurement solutions provider Onventis has optimized its e-procurement solutions for midsize enterprises. The Onventis Cloud Procurement Network connects B2B business processes for buyers and suppliers – simply and securely. In addition to holistic 360° processes for strategic and operational procurement, the all-in-one procurement network includes on-demand content integration as well as networking possibilities across corporate boundaries. Worldwide, over 350,000 users create more than EUR 5.5 billion purchasing volume with the Onventis platform. Onventis Buyer supports companies in procurement to increase business success through material cost savings and process optimization. Onventis Supplier supports suppliers to attract customers and leverage sales opportunities. The modular Onventis product portfolio has been awarded with the BME “Supplier Relationship Management” and “Mobile Procurement” seal of approval. Onventis is a member of the initiative “Cloud Services Made in Germany”.
About Main Capital Partners
Main Capital is a strategic investor with an exclusive focus on the software sector in the Benelux, Germany and Scandinavia. Within this sector, Main Capital Partners are the most specialized party in management buy-outs and later-stage growth capital. Main Capital has approximately EUR 400 million under management for investments in mature but growing software companies in Europe. An experienced team of professionals manages these Private Equity funds from offices in The Hague and Dusseldorf.
In addition to Onventis, the current investment portfolio of Main Capital consists of growing (SaaS) software companies such as Enovation, SDB Ayton, GOconnectIT, JobRouter (Germany), Inergy, MUIS Software, artegic (Germany), OBI4wan, Axxerion, b+m Informatik (Germany), engram (Germany), Ymor, Roxit, Onguard, Sharewire, SecondFloor, Sofon, ChainPoint, cleversoft (Germany) and Hype Innovation (Germany). Main Capital also has an interest in managed hosting provider Denit. Main Capital has a long-term perspective with the intention to build larger strong software groups. Former successful Main Capital group companies include among others Roxit, Axxerion, and Regas.