Main Capital becomes the new owner of Quadrant Automatisering B.V., the company behind King Business Software. In this space, Main is currently also the owner of MUIS Software and ctrl. MUIS, ctrl and King will be combined to create a leading player in Accountancy software, Enterprise Resource Planning (“ERP”) and Warehouse Management Software (“WMS”) in the Benelux.
The combination between MUIS, ctrl and King Business Software offers an extensive product portfolio for accountants-, administration offices, wholesalers and SME companies. Ctrl, now part of MUIS Software, is a provider of accountancy portals and was acquired earlier in 2019. The combined group forms an organisation of more than 120 employees and which serves more than 25.000 customers, with the common goal to continue the automation, innovation and optimisation of business processes and digital collaboration.
With its strong history, King Business Software is an established name in the Dutch ERP and Accountancy software market. King Business Software has built an extensive product portfolio around accountancy software, invoicing, Customer Relationship Management (CRM), WMS, inventory management and project administration. The company serves customers across a variety of verticals in the Netherlands, including customers such as Bax music shop, Hogebrug accountants and Attitude Holland.
Main Capital acquired MUIS Software in 2017 and added ctrl early 2019. The acquisition of King represents the third acquisition of Main Capital in the financial administrative software space. The combined company takes the next major step towards offering a total solution for its customers, significantly expanding its customer reach as well as further increasing its added value across the Netherlands. The combined organization will become a leading software vendor in the accountancy and SME space and will provide the Dutch bookkeeping/ERP market with a strong and innovative alternative to the large incumbent vendors.
Collaboration KING – MUIS Software
Hans Eschauzier (CEO KING): “I am very pleased with this step. Through the merger, the continuity of all stakeholders is maintained, among which customers, employees, dealers and partners. We do not only get a financially strong-, but also a very complementary partner. King specializes in ERP and WMS-software, whereas MUIS and ctrl have a strong position in the Accountancy market. The combination equals more than the sum of the parts. I am furthermore very pleased that the power of the brand name King is valued, as we have spent many years developing it. I have the utmost faith in the new management team. In all, I can take a step back with peace of mind.”
Charly Zwemstra (Managing Partner Main Capital): “Main Capital has identified the bookkeeping/ERP market as an important strategic market, where we are increasing our footprint with the acquisition of King Business Software. It fits perfectly within our strategy to create large software companies with added value to its customers. The adjacent and complementary product offerings of King Business Software, MUIS Software and ctrl will create direct synergies and strengthen the position of the group going forward, creating a leading Dutch bookkeeping/ERP software vendor. In the Benelux.”
Mattijs Wilms (CEO MUIS Software): “MUIS Software has built up a strong brand name by supplying innovative and modern software for entrepreneurs, accountants and administration offices in the field of Robotic Accounting for more than 35 years. The collaboration platform ctrl is leading in the field of information flows, workflow and digital signing. By joining forces with King Business Software, entrepreneurs and accountants are even better supported in their business processes with the right solutions. As a leading software company we can make even more impact in the accountancy and SME market.”
King Business Software was founded in 1981, headquartered in Capelle aan den Ijssel and employs approximately 70 FTE. Throughout its long history, the company has developed into a household name in the Dutch accountancy- and wholesale management software market. King Software is well known for the broad and rich product portfolio it offers to its customer base of over 4.500 customers, among which many large and SME wholesale & trade companies and webshops/retail organizations throughout the Netherlands.
About MUIS Software
MUIS Software, founded in 1984 and located in Heemskerk is an innovative SaaS based software developer, specialized in administrative bookkeeping- and ERP software available online as well as offline. For the online application, accountants are able to choose whether this is delivered through the cloud (SaaS) or manage the hosting themselves. With more than 1.100 accountants, 20.000 entrepreneurs and 125.000 administrations, MUIS has a large customer base and has been an established name within the accountancy sector for over 30 years. The long existence and constant growth of MUIS is derived from their innovative character. Currently MUIS focuses on the “Accountant 2.0” where efficiency of information flow and workflow have a central role in their product development.
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, Main is the most specialized party in management buy-outs and later-stage growth capital for strategic acquisitions. Main Capital has approximately € 1 billion under management for investments in mature but growing software companies in the Benelux, Germany and Scandinavia. An experienced team of professionals manages these Private Equity funds from offices in The Hague, Düsseldorf and Stockholm.
Besides the latest addition of Optimizers, the current investment portfolio of Main Capital consists of growing (SaaS) software companies such as Optimizers, GBTEC, Onventis (Germany), Assessio (Sweden), HYPE Innovation (Germany), cleversoft (Germany), Enovation, SDB Ayton, GOconnectIT, JobRouter (Germany), Inergy, MUIS Software, artegic (Germany), OBI4wan, Onguard, 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, Ymor and Regas.