The continuation fund was established to fully acquire the portfolio company ‘xxllnc’, a leading GovTech player based in the Netherlands. Under Main’s stewardship, xxllnc has become a Dutch leader in GovTech-software through strong organic growth and realizing 12 add-on acquisitions. Main Capital Partners aims to continue its strong partnership with xxllnc, with the aim of growing the company into a Pan-European GovTech leader.
The first step of the internationalization is the anticipated combination with Documaster, a Norwegian provider of document management and e-archiving solutions for the public sector that Main acquired in May 2025. The completion of this combination is subject to customary regulatory approval. The company’s technology streamlines the capture, storage, organization, and retrieval of documentation, helping organizations reduce inefficiencies and maintain compliance. By combining these two leading players in the Benelux and Nordic regions, Main Capital establishes a solid foundation to further grow this combination into a Pan-European GovTech group. The combined group will employ around 380 FTE and serve over 1,250 public sector organizations across Europe, creating a strong platform for future international expansion.
This transaction has provided existing investors with optionality, offering either liquidity or the opportunity to continue investing in the significant growth potential of xxllnc. Additionally, the fund provides xxllnc with additional capital to further pursue its international buy-and-build strategy under the continued stewardship of Main Capital.