Nicolas Leroux and Ray Kemp, jointly CEO, have successfully realized a management buy-out (“MBO”) of Lunatech Labs BV (“Lunatech”). Also, some staff members acquired a small stake in the company in this transaction. Lunatech is a Dutch IT service provider specialised in system integration, customised software implementation and web applications.
Main Corporate Finance has structured the MBO and arranged the debt financing. Bank financing has been provided by Rabobank. The transaction was partly financed with a mezzanine loan provided by Main Mezzanine Capital.Lunatech stands out in linking and structuring applications between back-end and front-end. Lunatech provides support for complex IT system integration and migration projects and they support IT departments of organisations. The company offers high quality solutions including consultancy and supplying project teams of Scala professionals.
Lunatech was founded in 1993 and located in Rotterdam. Lunatech provides its services to proven customers in the Netherlands and France, as for example: ING, SDU, Alcatel, Disney and UPS.
The strength of Lunatech is also recognised by the investors, says Lars van ‘t Hoenderdaal: “Lunatech is a very nice company with a strong management team and international growth potential. We experienced great interest among our funders to participate in this mezzanine proposition.”
After reaching agreement on the transaction structure and financing structure, the transaction has been completed within 4 weeks. Rabobank has also shown their strength by acting quickly.
Ray Kemp, CEO Lunatech, is very satisfied with the realised MBO: “Due to funding from the bank and mezzanine we were able to realise the MBO without a private equity investor. In this way we can realise our growth independently.”
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 companies in the TMT sector 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.