Majority Stake Purchase by Main Capital Partners in Xait
Main Capital Partners, a renowned Dutch private equity firm, has made a strategic investment in Xait, a Norwegian provider of collaborative document solutions specializing in CPQ (Configure, Price, and Quote) services [1]. This move is aimed at capturing opportunities in an expanding global market, particularly in the areas of complex collaborative document creation and CPQ services.
Xait, known for its flagship product XaitPorter, which enables efficient team-based creation of large, complex, mission-critical documents and proposals, is set to benefit greatly from this partnership [2]. The company serves over 300 blue-chip clients primarily in the energy and renewables, capital goods, and business services sectors [3].
The investment by Main Capital Partners is designed to accelerate Xait's international expansion, with a focus on expanding across Continental Europe and strengthening its presence in the United States [1]. The goal is for Xait to become a global leader in its fields through a selective buy-and-build strategy [4].
Wessel Ploegmakers, a Partner at Main Capital Partners, expressed his excitement about the partnership, stating, "We are thrilled to partner with Xait's management team to support their growth journey. We look forward to working together to accelerate international growth and consolidate Xait's position in key markets." [2]
Eirik Gudmundsen, the CEO of Xait, also expressed his enthusiasm, saying, "We are pleased to have Main Capital Partners on board. Their expertise in cross-border growth and focus on long-term value creation will be invaluable as we continue to build a leading platform in document creation and CPQ." [2]
The strategic investment in Xait aligns with Main Capital Partners' investment strategy, which prioritizes growing software businesses internationally [4]. The partnership continues Xait's building of a leading platform in document creation and CPQ, with the majority of Xait's revenue already being generated outside the Nordics [1].
Digitalization and increasing automation needs are fueling these growing markets, making it an opportune time for Xait to expand further, aided by Main's expertise in cross-border growth [1]. The management team will remain engaged after the acquisition, ensuring consistent progress aligned with these strategic priorities [1].
Main Capital Partners will partner with Xait's management team to support its growth journey and achieve its goal of becoming a global leader in complex collaborative document creation and CPQ services [2].
[1] Main Capital Partners. (2022). Press Release: Main Capital Partners Invests in Xait. Retrieved from https://www.main.nl/en/news/main-capital-partners-invests-in-xait/ [2] Main Capital Partners. (2022). Press Release: Main Capital Partners Invests in Xait. Retrieved from https://www.main.nl/en/news/main-capital-partners-invests-in-xait/ [3] Xait. (n.d.). About Us. Retrieved from https://www.xait.com/about/ [4] Main Capital Partners. (2022). Press Release: Main Capital Partners Invests in Xait. Retrieved from https://www.main.nl/en/news/main-capital-partners-invests-in-xait/
Technology's growing demand for automation and digitalization presents a fertile ground for Xait's expansion in the global market. With Main Capital Partners' expertise in finance and business, this strategic partnership aims to propel Xait into a leading position in the industry, specializing in complex collaborative document creation and CPQ services.
