Goldman Sachs Group’s private equity arm is close to finalising a deal to acquire Danish telematics company Trackunit, according to a report by Bloomberg sources familiar with the matter.
The Goldman unit is in advanced discussions with Trackunit’s current owner, buyout firm Hg, about a transaction that could value the company at over $1bn, the sources said, requesting anonymity due to the confidential nature of the talks.
Hg is considering retaining an equity stake in Trackunit, which was founded in Denmark in 2003, the sources added. Negotiations are still ongoing, and the deal could still fall through.
Bloomberg News reported that Hg began seeking interest from potential buyers last year. If the deal is successful, it would see Goldman Sachs regain control of Trackunit, a company it previously sold to Hg in 2021. Goldman’s asset management division initially acquired Trackunit alongside GRO Capital in 2015 for an undisclosed sum.
GRO Capital, which retained a minority interest in Trackunit, may continue to invest in the company, the sources said. A GRO spokesperson was unavailable for comment.
Trackunit specialises in connectivity software and telematics solutions for the construction sector. Its products are used by equipment manufacturers, rental firms, and contractors.
