Swedish private equity firm EQT is assessing options for a potential sale of its stake in Thinkproject, a Europe-focused software-as-a-service provider, according to a report by Bloomberg citing unnamed sources familiar with the matter.
EQT is reportedly working with technology advisory boutique Arma Partners to test investor interest in the business. While discussions are at an early stage and may not result in a transaction, a deal could value Thinkproject at up to €1.5bn, the sources said.
EQT acquired its stake in Thinkproject from TA Associates in 2020, backing the company’s expansion as a provider of workflow software for cost, contract, asset, and compliance management across capital-intensive industries.
Thinkproject serves more than 3,000 customers globally, including Audi, Électricité de France, and Network Rail, operating on a subscription-based model that generates recurring revenues. The company’s end-markets span construction, engineering, infrastructure, and energy.
Software and SaaS assets continue to attract strong private equity interest, driven by predictable cash flows, high customer retention, and scalability. Any transaction would represent a further potential exit for EQT from a mature technology investment.
