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Carlsquare advised the shareholders of b+m Group on the sale to LEA Partners

German technology investor LEA Partners is taking a majority share in the b+m group, a leading software provider for the banking and insurance industry, from software investor Main Capital Partners.

The b+m group, with currently around 150 employees headquartered in Melsdorf near Kiel, is the undisputed German market leader for the automated processing of promotional loans. In 2020 alone, a volume of more than EUR 30 bn was processed by b+m group’s software systems. In addition, the group serves insurers with innovative products in the field of pension and inventory management. The b+m group completes its service offering with a market-leading product portfolio that supports the digitalisation of sales activities in banks. For more than 25 years, the b+m group has been a recognised software provider in the financial services sector, establishing longstanding customer relationships throughout the DACH region.

LEA Partners is an entrepreneurial-minded multi-stage private equity firm investing in growth technology companies that are driving transformative change in their industries. Founded in 2002, LEA Partners has advised on the investment in several companies. Operating out of Karlsruhe, one of Europe’s largest technology clusters, its mission is to fund and support ambitious founders and executives by leveraging them with practical, hands-on growth expertise to achieve market leadership.

Main Capital Partners is a strategic investor with an exclusive focus on enterprise software. Main Capital Partners has almost 20 years of experience in building front-running software groups in the Benelux countries and the DACH and Nordics regions. Main Capital Partners is a strategic partner for management teams of software companies, with the aim to achieve sustainable growth in close cooperation. With a team of 45 employees at locations in The Hague, Stockholm and Düsseldorf, Main Capital Partners offers its portfolio companies strategic advice and pragmatic support. In October 2021, Main Capital Partners has over EUR 2.2 billion in assets under management. During their six year partnership, Main Capital Partners and the b+m group have successfully more than tripled recurring revenues, while also significantly increasing profitability. The b+m team has also expanded from approximately 90 to nearly 150 employees over the period.

Sven van Berge, Partner and Head of Germany at Main Capital Partners, commented: “We are very proud of what we have achieved over the last 6 years, together with the team from b+m. In particular, our progression to a more recurring, software-centric service offering was a great step forward for the company and allowed for significant growth opportunities while also increasing profit margins. With the acquisition of engram in 2017, we also supported the investment with further capital while at the same time helping to extend the software portfolio in the financial sector. We are thankful for a great collaboration and are happy to have found a good home for b+m with LEA Partners.” 

Frank Mielke, CEO b+m group: “With LEA Partners, we have decided to partner with a strong software investor with in-depth knowhow in the German speaking countries, which is rounded off by a comprehensive understanding of the financial services industry. From the very start, we are benefiting from working with a valuable sparring partner to build on our strengths and continuously develop the b+m group.”

Philipp Hertel, Partner at LEA Partners: “The b+m group stands for outstanding technological skills combined with a strong market position as a software provider for the financial services sector. We are delighted to partner with b+m and we will seize the attractive opportunities in the digital transformation of banks and insurers to further grow the b+m group.”

Carlsquare acted as the exclusive financial advisor to the shareholders of b+m group.

  • Main Capital Partners:

  • b+m group:

  • LEA Partners:

Contacts

Picture of Mark Miller
Mark Miller

Managing Partner

Telephone: +49 40 300 836-11

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Mischa Krause

Director

Telephone: +49 40 300 836-24

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Robert Suhr

Associate

Telephone: +49 40 300836-27

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Team

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Jessica Algner

Assistant

Telephone: +49 30 809 33 47-12

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Polina Amini

Senior Associate

Telephone: +49 40 300 836-14

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Jonatan Andersson

Equity Analyst

Telephone: +46 70 508 00 51

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Markus Augustsson

Head of Equity Research

Telephone: +46 76 235 03 20

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Agata Barsallo

Office Management & Accounting

Telephone: +44 20 8017 6020

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Caroline Berglund

Head of Equity Sales

Telephone: +46 73 382 10 82

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Anders Bo

Managing Partner

Telephone: +45 4199 8252

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Ulf Boberg

Senior Advisor Life Sciences

Telephone: +46 73 312 44 90

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Manfred Drax

Partner

Telephone: +49 89 255 49 53-15

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Anders Elgemyr

Managing Partner

Telephone: +46 70 496 18 15

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Niklas Elmhammer

Senior Equity Analyst

Telephone: +46 70 898 39 59

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Sebastian Fischer

Director

Telephone: +49 89 255 49 53-12

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Daniel Garlipp

Managing Partner

Telephone: +49 40 300 836-19

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Philip Goldhahn

Vice President

Telephone: +49 40 300 836-21

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Thorsten Grandt

Vice President

Telephone: +49 30 809 33 47-20

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Johan Heigard

Vice President

Telephone: +46 70 246 99 88

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Caroline Heintz

Senior Associate

Telephone: +46 707 40 68 58

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Maurice Hinrichs

Associate

Telephone: +49 40 300 836-20

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Arnold Holle

Managing Partner

Telephone: +44 20 80176020

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Lars Johansen

IT&Telecom Expert

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Elaine Kelly

Head of Marketing

Telephone: +49 40 300 836 18

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Anna-Lena Kickbusch

Office Management & Accounting

Telephone: +49 40 300 836 10

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Morten Kjærulff

Partner

Telephone: +45 2634 9031

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Mischa Krause

Director

Telephone: +49 40 300 836-24

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Steffen Leckert

Managing Partner

Telephone: +49 89 255 49 53 26

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Malve Liebig

Senior Associate

Telephone: +49 89 255 49 53-18

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Erik Lundberg

Partner

Telephone: +46 73 850 35 59

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Eva Macha

Office Management & PA to Michael Moritz

Telephone: +49 30 809 33 47-10

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Mandy May

Head of Operations

Telephone: +49 30 809 33 47 16

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Mirja Meyer

Office Management & Accounting

Telephone: +49 40 300 836 10

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Mark Miller

Managing Partner

Telephone: +49 40 300 836-11

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Michael Moritz

Managing Partner

Telephone: +49 30 809 33 47-13

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Bertil Nilsson

Senior Equity Analyst

Telephone: +46 70 434 90 03

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Flemming C. Pedersen

Managing Partner

Telephone: +45 4199 8251

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Anika Schaefer

Office Management & HR

Telephone: +49 89 255 495 310

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Alexander Schleppegrel

Associate

Telephone: +45 2621 0543

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Nico Schmidt-Weidemann

Managing Partner

Telephone: +49 89 255 49 53-17

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Caspar Graf Stauffenberg

Managing Partner

Telephone: +49 89 255 49 53-11

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Jon Tingling

Vice President

Telephone: +44 77 1347-8286

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Sybille de Vegvar

Business Development

Telephone: +44 20 8017 6017

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Oskar Wollert

Vice President

Telephone: +46 761 71 11 60

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Jan-Frederik Zapp

Associate

Telephone: +49 30 8093347-31

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Nils Zettelmeyer

Director

Telephone: +49 30 809 33 47-25

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Andreas Zetzsche

Partner

Telephone: +49 30 809 3347 33

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Marta Zientarski

Vice President

Telephone: +46 73 840 55 66

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