M&A Deal Summary

Main Capital Partners Acquires Trace One

On April 23, 2025, private equity firm Main Capital Partners acquired internet software and services company Trace One from STG

Acquisition Highlights
  • This is Main Capital Partners’ 10th transaction in the Internet Software and Services sector.
  • This is Main Capital Partners’ 1st transaction in France.

M&A Deal Summary

Date 2025-04-23
Target Trace One
Sector Internet Software and Services
Buyer(s) Main Capital Partners
Sellers(s) STG
Deal Type Secondary Buyout

Target

Trace One

Puteaux, France
Trace One is a collaborative retail business platform for consumer-packaged-goods (CPG). The company provides one SaaS inclusive platform with multiple interlocking business applications, including product lifecycle management, sourcing, and compliance. It enables customers to create higher quality, trusted, and compliant own-branded goods faster, delivering benefits to their consumers and the environment. Trace One was formed in 2001 and is based in Puteaux, France.

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Buyer(S) 1

Buyer

Main Capital Partners

The Hague, Netherlands

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 6.0B EUR
Size Mega
Type Sector Focused
DESCRIPTION

Main Capital Partners is a private equity firm focused on investing in and acquiring enterprise software companies in the Benelux, DACH, Nordics, and the US. Within software, the Firm looks for businesses with scalable business models, recurring revenues, and IP ownership. Main Capital will consider later stage growth capital financings, as well as small to medium-sized buyouts. The Firm's target revenue range is €3 to €100 million. Main Capital Partners was formed in 2003 and is based in The Hague, the Netherlands.


DEAL STATS #
Overall 68 of 69
Sector: Internet Software and Services M&A 10 of 10
Type: Secondary Buyout M&A Deals 3 of 4
Country: France M&A 1 of 1
Year: 2025 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-01 VOQUZ Labs

Berlin, Germany

VOQUZ Labs is a provider of SAP license management and IT spend optimization software. VOQUZ Labs was founded in 1980 and is based in Berlin, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-20 TrustArc

Walnut Creek, California, United States

TrustArc is a provider of privacy compliance and data protection software solutions and offers an unmatched combination of innovative technology, services, and TRUSTe certification solutions. TrustArc was founded in 1997 and is based in Walnut Creek, California.

Buy -

Seller(S) 1

SELLER

STG

Menlo Park, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 12.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

STG is a private equity firm focused on making investments in software and services companies. STG looks to leverage operational expertise in helping its portfolio companies 'increase customer value' and grow. In addition to its focus within the software/services sectors, STG also has interest in healthcare, pharmaceuticals manufacturing, consumer packaged goods, retail, financial services, and communications. STG was formed in 2002 and is based in Menlo Park, California.


DEAL STATS #
Overall 34 of 34
Sector: Internet Software and Services M&A 2 of 2
Type: Secondary Buyout M&A Deals 9 of 9
Country: France M&A 2 of 2
Year: 2025 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-03-17 NetWitness

Bedford, Massachusetts, United States

NetWitness is a provider of network threat analysis software to governments, financial institutions and large enterprises worldwide. NetWitness was founded in 1997 and is based in Bedford, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-25 Yodlee

Berwyn, Pennsylvania, United States

Yodlee specializes in open finance, data aggregation, and analytics solutions for financial institutions and fintech companies. Yodlee was founded in 1999 and is based in Redwood City, California.

Buy -