Main Capital Partners has sold financial software services provider b+m Group to German technology investor LEA Partners.
Headquartered near Kiel in Germany, b+m develops software solutions for banks and insurance companies in the DACH region as a full-service provider.
Main Capital initially acquired b+m from publicly listed Allgeier in 2015. During their six-year partnership, Main and b+m have more than tripled recurring revenues, while also significantly increasing profitability. The b+m team has also expanded from around 90 to nearly 150 employees over the period.
“Our progression to a more recurring, software-centric service offering was a great step forward for b+m and allowed for significant growth opportunities while also increasing profit margins,” said Sven van Berge, partner and head of Germany at Main Capital. “With the acquisition of engram in 2017, we also supported the investment with further capital while helping to extend the software portfolio at the same time, we have found a good home for b+m with LEA Partners.”
Frank Mielke, CEO at b+m Group, added: “We have made a strong step forward in recent years with the vast network Main has in the sector as a truly specialised software investor, we look forward to continuing this growth path in collaboration with LEA.”