Exit: Main Capital Partners sells Onventis to Keensight Capital

Stutt­gart — Keen­sight Capi­tal acqui­res Onven­tis, a leading provi­der of cloud procu­re­ment solu­ti­ons for SMEs in the DACH region, Bene­lux and Scan­di­na­via Part­ners. The seller is Main Capi­tal Part­ners, which had inves­ted in Onven­tis in 2019. Keen­sight was advi­sed by DLA Piper on this transaction.

Keen­sight will support Onven­tis as it conti­nues to evolve into an inter­na­tio­nal SaaS cham­pion in the midmar­ket. The current manage­ment team will remain with the company and invest toge­ther with Keen­sight Capital.

Onven­tis, head­quar­te­red in Stutt­gart, Germany, has been provi­ding cloud solu­ti­ons for the digi­tal trans­for­ma­tion of purcha­sing and finance proces­ses since 2000. World­wide, more than 1,000 compa­nies in the Onven­tis network handle an annual procu­re­ment volume of over 10 billion euros with more than 50,000 suppliers.

During Main Capi­tal Part­ners’ invest­ment period, Onven­tis evol­ved from a company focu­sed on the DACH region to a leading pan-Euro­­pean spend manage­ment soft­ware provi­der with local offices in the Nether­lands, Sweden and Austria. During this period, the company became an attrac­tive Rule-of-40 company with a strong focus on recur­ring reve­nue growth and an increase in total reve­nue of more than 2.0x.

Keen­sight Capi­tal is one of the leading Euro­pean growth buyout firms. For more than 20 years, the company has been making long-term invest­ments in profi­ta­ble compa­nies with high growth poten­tial and sales of between 10 and 400 million euros.

The DLA Piper team was led by Part­ner Lars Jessen (Corporate/M&A, Frank­furt) with Part­ners Sebas­tian Decker (Corporate/M&A, Hamburg), Dr. Konrad Rohde, Of Coun­sel Martin Hein­sius (both Tax, Frank­furt), Senior Asso­cia­tes Anne-Kath­rin Hoppe, Frie­de­rike Rickers (both Corporate/M&A, Hamburg), Sven Bisch­off (Tax) and Asso­ciate Daniel Osma­no­vic (Corporate/M&A, both Frank­furt) in the core team. The team in Germany included more the partners.

In addi­tion, an inter­na­tio­nal team from DLA Piper’s offices in Sweden, the Nether­lands and Austria acted in an advi­sory capacity.

Paul Hastings, Paris, advi­sed on the French law aspects and struc­tu­ring of the tran­sac­tion with Olivier Deren, Allard de Waal, Vincent Naci­n­o­vic and Alban Castarède.

About Main Capi­tal Partners

Main Capi­tal Part­ners is a leading soft­ware inves­tor in the Bene­lux, DACH region and the Nordic count­ries. Main has nearly 20 years of expe­ri­ence streng­thening soft­ware compa­nies and works closely with the manage­ment teams of its port­fo­lio compa­nies as a stra­te­gic part­ner to realize sustainable growth and build excel­lent soft­ware groups. Main employs 60 people and has offices in The Hague, Stock­holm, Düssel­dorf, Antwerp and the USA (Boston). As of Octo­ber 2021, Main has over €2.2 billion in assets under manage­ment. Main has inves­ted in more than 150 soft­ware compa­nies to date. These compa­nies have crea­ted jobs for about 9000 employees.

About DLA Piper

DLA Piper is one of the world’s leading commer­cial law firms, with offices in more than 40 count­ries in Africa, Asia, Austra­lia, Europe, the Middle East, and North and South America. In Germany, DLA Piper is repre­sen­ted by more than 250 lawy­ers at its offices in Frank­furt, Hamburg, Colo­gne and Munich. In certain juris­dic­tions, this infor­ma­tion may be conside­red attor­ney adver­ti­sing. www.dlapiper.com