Main Capital said June 24 that it acquired a stake in Onventis. Financial terms weren’t announced. Onventis provides a cloud platform for e-procurement.
Main Capital acquires a majority stake in Onventis
Düsseldorf/Stuttgart, 24th of June 2019
Main Capital, in conjunction with the Onventis management team, has acquired a strategic stake in Onventis, a cloud-based platform provider for e-procurement. Through its rich set of functionalities, Onventis’s software offers both buyers and suppliers a user-friendly and fully-integrated suite to connect, automate and control the entire chain from sourcing to payment.
Founded in 2000 with headquarters in Stuttgart, Onventis has quickly grown into a leading, open procurement solution for the German Mittelstand. The Company’s offering steers procurement processes of direct and indirect materials in strategic and operational procurement. The Onventis procurement network channels more than Euro 5.5 billion purchasing volume per year for approx. 350,000 users and 35,000 suppliers globally. The software’s modular and integrated design offers flexible, comprehensive and intuitive solutions for customers looking to digitize their workflows. Onventis currently serves a well-diversified client base with more than 500 procurement organizations across various industries, such as Kühne + Nagel, Steigenberger, Techem, Berlin Hyp, Schott, Conrad, Deutz, Engie, Federal Mogul, GEA Group, Alba, Apcoa, Dekra, Hochland, Low & Bonar, and Sunrise.
Many procurement managers struggle with the ongoing globalization of supply chains whilst simultaneously facing tighter budget restrictions. The resulting complexity forces more and more companies to invest in the standardization and automation of their procurement processes. Industry analysts expect the growing pressure will increase the number of organizations making use of e-procurement solutions and thus spur the overall market growth in the years to come.
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. For 2019, Onventis expects close to 30% year-over-year growth. Moreover, the Company’s management team will come out even stronger from the transaction by partnering with Main Capital as joint shareholders.
Partnership Onventis – Main Capital
Frank Schmidt (CEO of Onventis):
“With their strong expertise and network in the software sector, the team from Main Capital Partners constitutes the ideal partner for our envisioned growth strategy. Our Mittelstand-focused e-procurement solutions are quickly gaining market share, which helped Onventis achieve another record year in 2018. Together with our new partner, we will continue this success story by further expanding our product portfolio and widening our geographical reach.”
Charly Zwemstra (Managing Partner of Main Capital Partners):
“We were immediately impressed by Onventis’s capable management team, which spearheaded the Company’s big steps forward in recent years. We are excited to assist Onventis going forward in its expansion and further roll-out of the open procurement network. In addition, we see great opportunities to complement the strong organic growth through selective buy-and-build acquisitions.”
The cloud-based 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 Euro 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
Main Capital is a strategic investor with an exclusive focus on the software sector in the Benelux, Germany and Scandinavia. Within this sector, we are the most specialized party in management buy-outs and later-stage growth capital for strategic acquisitions. Main Capital has approximately Euro 450 million under management for investments in mature but growing software companies in the Netherlands, Germany and Scandinavia. An experienced team of professionals manages these Private Equity funds from offices in The Hague, Düsseldorf and Stockholm.
In addition to Onventis, the current investment portfolio of Main Capital consists of growing (SaaS) software companies such as Assessio (Sweden), HYPE Innovation (Germany), cleversoft (Germany), Enovation, SDB Ayton, GOconnectIT, JobRouter (Germany), Inergy, MUIS Software, artegic (Germany), OBI4wan, b+m Informatik (Germany), Ymor, Onguard, Sharewire, SecondFloor, Sofon and ChainPoint. 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.
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