Houlihan Lokey Advises Optimizers and Main Capital Partners

Houlihan Lokey is pleased to announce that Optimizers, a portfolio company of Main Capital Partners (Main), has been acquired by Orisha, a portfolio company of TA Associates (TA). The financial details of the transaction were not disclosed. The transaction closed on 31 May 2024.

Main made its strategic investment in Netherlands-based Optimizers in 2019. During the partnership, Optimizers has substantially strengthened its product proposition into an extensive e-commerce software suite, offering valuable solutions to its international customer base to improve e-commerce processes across the entire value chain. Furthermore, Optimizers has solidified its international presence across Northwestern Europe and the U.S., currently employing approximately 170 members of staff. Under Main’s stewardship, Optimizers expanded its addressable market and grew its software business significantly, both organically and through three strategic add-on acquisitions. As a result, recurring revenue grew sevenfold during this period.

Now supported by Orisha, a French business software provider for construction, real estate, retail/wholesale, and healthcare, Optimizers is well positioned to further capitalize on its achievements in the coming years.

Stefan van Diggelen, CEO of Optimizers, comments: “We look back at a fruitful cooperation with Main, during which we expanded our market position significantly, and we were able to optimize our organizational efficiency.” He added: “We are excited to embark on this new chapter for Optimizers alongside Orisha. This partnership not only enhances our access to additional expertise and experience, but it most importantly further strengthens our ability to provide our customers with a unified commerce experience worldwide.”

Jacques Ollivier, CEO of Orisha, says: “We are delighted to announce this major milestone for Orisha. The acquisition of Optimizers opens up exciting new prospects for the group. Thanks to this transaction, Orisha will become a major player in omnichannel unified commerce in Europe and will actively participate in the transformation of this sector.”

Ivo van Deudekom, Investment Director at Main and Member of Optimizers’ Supervisory Board, summarises: “Through Main’s specialized investment strategy, we supported in transforming the business into a resilient business model by increasing the recurring revenue percentage of the business.” He added: “We congratulate Optimizers on this successful sale to Orisha; we feel Orisha is a perfect new home for Optimizers to continue this impressive growth story.”

Houlihan Lokey served as the exclusive financial sellside advisor to Main Capital Partners and Optimizers, supporting all relevant aspects of the transaction, including marketing, structuring of a competitive process, coordination of due diligence, and negotiating key deal terms.

This deal highlights the firm’s strong sector expertise in the front office software space. Other transactions in this sector include the sale of Flooid to GLORY and the acquisition of Factor Eleven through Armira.