Global software investor Hg is to acquire a controlling interest in Trackunit, a specialist in software-led telematics solutions for off-highway vehicles and the construction market, from Goldman Sachs and GRO Capital.
Søren Brogaard, CEO, Trackunit, says: “GRO Capital and Goldman Sachs have been exceptional partners during the last five years and helped us solidify our mission and execute against it. We are proud to have attracted investment from Hg, which comes at a tipping point for the digitalisation of construction. Hg’s understanding, experience and focus on scaling leading SaaS companies provides Trackunit with a knowledgeable partner to help consolidate and realise our ambitions in a growing global industry.”
Florian Wolff, Partner at Hg, says: “Søren and the team have led Trackunit to create a best-in-class, SaaS product for its ever-growing customer base. The business has become a key leader and long-term winner in what is a very interesting, global niche segment. We believe that the business has significant organic growth and attractive expansion opportunities ahead of it. We’re really excited about what we can achieve together.”
Nick Jordan, Partner at Hg, says: “Trackunit is a very high-quality business. We believe that Hg’s deep sector knowledge and operational expertise in the software and telematics space will add further support to this impressive track-record. Our experience in internationalisation, the evolution of software and data and the further development of sales channels will add up to an even greater experience for Trackunit’s customers, as well as an exciting growth trajectory for the business.”