Main Capital Partners acquires majority stake in Belgian utilities software firm Ferranti
What's the deal? Main Capital Partners, a Dutch software-focused investment firm, has acquired a majority stake in Ferranti, a Belgium-headquartered provider of mission-critical software for the utilities sector. The deal, announced on May 28, marks the start of a new growth phase for the company, with existing management staying on and Tom Van Haute stepping into the role of chief executive officer.
Ferranti employs around 285 people and develops software that helps energy suppliers, grid operators, and water utilities manage core processes across electricity, gas, heat, and water. It serves customers in more than 12 countries, with a strong presence in Belgium, the Netherlands, and the UK, and a growing footprint in Europe and Asia-Pacific.
Why now? The utilities software market is riding several long-term tailwinds: increasing regulatory complexity, the rollout of smart metering, and the growth of distributed energy resources. These trends are pushing utility companies to adopt modern, integrated platforms — exactly what Ferranti offers through its cloud-based MECOMS 365 platform, built on Microsoft Dynamics 365.
MECOMS 365 handles customer information systems, billing, meter data management, and market communication in a single environment, making it central to daily utility operations.
What could go wrong? Ferranti's growth plan hinges on international expansion and a buy-and-build strategy — both of which carry execution risk. Entering new geographies means navigating different regulatory regimes, while bolt-on acquisitions require successful integration. The company also faces competition from larger enterprise software vendors moving into the utilities vertical.
The signal: This deal fits a well-established pattern: specialised private equity firms snapping up vertical software companies with sticky, mission-critical products and recurring revenue. Main Capital Partners has built its playbook around exactly this kind of target — niche B2B software businesses with room to consolidate fragmented markets. As the energy transition accelerates and utility infrastructure modernises, expect more investor appetite for the software layer that keeps it all running.
Read more: main.nl
