Main Capital Partners has sold its majority stake in Benelux and DACH-based social care software business Regas to German private equity firm Bid Equity.

Financial details of the deal were not disclosed, but Main’s average exit multiple is “substantially above 4x”, managing partner Charly Zwemstra told Real Deals.

Main invested in Regas in 2013 in a management buyout deal. Under the firm’s hold, the firm grew its revenues organically and also through acquisitions. These included the bolt-on of Daarwin, a German business in the same sector, that allowed the business to expand in the DACH market.

Regas provides software for clients in social care such as those working with young people or in the mental health sector. It has around 600 customers in the Netherlands, Belgium, Luxembourg, Germany, Austria and Switzerland.

Main Capital closed its fifth fund at €236.5m in December.



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