- Main Capital invested in Inergy in 2017
- ilionx is a Dutch IT-services provider
- FSN Capital acquired a majority stake in ilionx in December 2022
Main Capital Partners announced the sale of Inergy to FSN Capital-backed ilionx.
Headquartered in Woerden in the Netherlands, Inergy is a provider of governmental software, complex data and analytics platforms. The company services government institutions as well as private enterprises.
Main Capital invested in Inergy in 2017. During the ownership period, Inergy completed five add-on acquisitions and its revenues more than doubled, according to Main Capital.
“We helped to transform Inergy by focusing on the development of SaaS-based software solutions especially related to Financial Control, Risk and GRC-related domains,” said Pieter van Bodegraven, senior partner at Main Capital Partners. “With strong autonomous growth, as well as with five add-on acquisitions, the company has more than doubled its revenues and strongly increased its recurring profile. We feel ilionx is a perfect new home for Inergy to continue their growth strategy.”
The buyer, ilionx, is an Utrecht-based provider of digital strategy, cloud-oriented application development, data and AI products, hyper-automation and managed services. Oslo-headquartered FSN Capital acquired a majority stake in ilionx in December 2022.
Main Capital is a software investor in the Benelux, DACH, and Nordic regions. The firm, based in the Hague, manages over €2.2 billion in assets under management.
FSN Capital is a Northern European private equity firm and investment advisor to the FSN Capital Funds, with €4 billion under management.