Main Mezzanine Capital issued a mezzanine loan to SecondFloor, a leading Dutch financial services and software company with an international customer base, to finance working capital needs and to improve the financial position. The loan has a risk-bearing character and is subordinated to the credit facility from their principal bank.
Main Mezzanine Capital is part of Main Capital Partners, an investment and financing company, as well as a corporate finance advisor, with a focus on growing and profitable SME companies in the Netherlands. Main Mezzanine Capital is funded by its own shareholders, wealthy individuals, family offices and (former) entrepreneurs, who like to invest in companies with an interesting risk-return profile.
Frans Hemmer, CFO of SecondFloor, has chosen for a mezzanine loan, because “we have adequately and efficiently improved the financial position of SecondFloor without any change in the shareholder structure, nor a difficult process with respect to enterprise valuation. Additionally, it provides the opportunity for accelerated international expansion”.
Lars van ‘t Hoenderdaal, managing partner of Main Capital Partners, adds: “the use of a mezzanine loan is especially suitable for companies that want to improve their balance sheet with short process. We have now issued two mezzanine loans to companies with international growth ambitions. We experience a lot of interest from comparable growing companies”.
SecondFloor is located in Schiphol-Rijk and realizes profitable revenues of > € 10 million. The company has 100 fulltime employees in offices in six countries, amongst others in Germany, France and Switzerland. SecondFloor provides innovative risk and compliance software solutions for insurance companies focussed on Solvency II regulations.
In addition to being a successful investor in software companies, Main Capital Partners started to finance Dutch SME companies with ambitions that reach beyond the financing possibilities currently offered by local banks. Main Mezzanine Capital will invest around € 20 million in the coming 2 years. The mezzanine loan to SecondFloor is the second in our loan portfolio. The first mezzanine loan was issued to OnGuard.