Capital Partners sells Textkernel to Bullhorn

Main Capital Partners has announced the sale of the software company Textkernel to Bullhorn. This is Main Capital's third strategic exit this year.

The Hague, June 20, 2024 - Main Capital Partners has announced the sale of Textkernel to Bullhorn. Bullhorn is a global leader in the recruitment and staffing software industry. This is Main Capital Partners' third strategic exit this year.

Background and development of Textkernel

Textkernel is an Amsterdam-based company specializing in CV analysis and source & match software. Main Capital Partners invested in Textkernel together with the management team in September 2020. Since then, the company has developed significantly. It has expanded its product range and entered the North American market, including through the acquisition of US company Sovren.

Four years ago we completed a successful management buy-out, supported by Main. Since then, we have significantly expanded our value proposition for HR workflows. The acquisition by Bullhorn is good news for Textkernel customers.

Gerard Mulder, CEO of Textkernel

Expansion and growth

Textkernel has significantly expanded its business during the collaboration with Main Capital Partners. Through four strategic acquisitions, the product portfolio was expanded and the market share increased. The customer base grew from under 1,000 to almost 2,500 customers worldwide. Textkernel's turnover has almost tripled in less than four years.

Future prospects with Bullhorn

The merger with Bullhorn gives Textkernel access to significant resources. These include over $47 million in annual research and development spending and investment in cutting-edge AI technology.

Textkernel is the leading provider of AI talent search solutions. We are excited to accelerate the next chapter of our AI strategy with the best parsing and matching technology on the market.

Matt Fischer, President and Chief Operating Officer at Bullhorn

Successful partnership

Sjoerd Aarts, Partner and Head of Benelux at Main Capital Partners, said:"We can look back on a very successful partnership with the Textkernel team. Thanks to our position as the most active software investor in Europe and our growing presence in the US, we were able to support Textkernel in a buy-and-build strategy. This has enabled us to rapidly expand Textkernel's global footprint and accelerate growth in its core regions. We are proud to announce Textkernel as the third exit to an international strategic buyer from our Benelux portfolio this quarter."

The sale of Textkernel to Bullhorn marks another milestone for Main Capital Partners. The partnership has significantly strengthened Textkernel and positioned it well for future growth. The acquisition by Bullhorn promises to continue Textkernel's successful trajectory and further expand its market position.