Main Capital eyes northwest Europe for Avinty expansion; Triton’s All4Labels makes it three add-ons in a week

Avinty will seek to grow in Belgium, Scandinavia and the DACH region.

Good morning Eurohubsters, Craig McGlashan here with the Dealflow.

We’ve been seeing a steady stream of healthcare deals over the last few weeks and today PE Hub Europe’s Nina Lindholm has taken a deeper look at one of the most recent – Main Capital’s majority stake in Avinty.

Northward bound. Avinty provides software to more than 400 customers in the Netherlands and Belgium with more than 65,000 healthcare professionals using it daily. Founded in 1994, the company was established by merging healthcare software providers Karify, Jouw Omgeving, Impulse, VIR e-care solutions, NederCare and AppNormal.

Main Capital, based in The Hague, announced it had bought a majority stake in Oldenzaal-headquartered Avinty earlier in August.

“We see it as a new platform investment,” Main Capital managing partner Charly Zwemstra told Nina. “We’re building a strong northwest European software business for healthcare.” That expansion will include growing in Belgium, Scandinavia and the DACH region.

Research for potential add-ons for Avinty has already started, and Main Capital has identified over 50 possible options. “We expect Avinty to be well positioned to do those acquisitions,” Zwemstra added.

Read Nina’s article here.

If you want to read more about private equity-backed healthcare companies expanding in Europe, check out this piece I wrote a few weeks ago about Gyrus Capital’s plans for Swiss healthcare platform Consulcesi Group.

Package deals. August is often a bit of slow month for deals but Triton portfolio company All4Labels Global Packaging doesn’t seem to be heeding that trend.

The firm has just announced a deal for Carlucci, an Italian producer of pressure sensitive labels and packaging solutions for the pharmaceutical industry.

“Carlucci is a perfect example of a long-established, high-performing Italian company, and jointly we aim at consolidating our presence in the pharma industry both in the Italian market as well as abroad,” said Antonio Iannone, president of All4Labels Italy. “It marks an important milestone for All4Labels and highlights our strategy to expand our presence and capabilities in the pharmaceutical and healthcare market.”

The purchase of the Pomezia-based company is the third acquisition All4Labels has announced in the last week after those of Gráficas Indetic and Relieves Egara. Hamburg-headquartered All4Labels’s strategy is to expand into markets via well-known partners.

Italian packaging firms are picking up a fair amount of interest in the private equity sphere. Check out my recent interview with BC Partners’ Stefano Ferraresi about that firm’s co-purchase with Bain Capital of Fedrigoni, a producer of packaging for the luxury retail industry.

That’s it from me – I’ll speak to you again on Friday.

Cheers,

Craig