Goldman Sachs Alternatives acquires majority stake in Trackunit from Hg and GRO Capital

LONDON: Trackunit, a leading global SaaS and operating data platform provider for the construction industry, announced that Goldman Sachs Alternatives will acquire a majority stake in the company from funds advised by Hg and GRO Capital.

This investment marks the next phase in Trackunit’s growth, aligning with its mission to eliminate downtime in construction and enhance customer success and innovation. Hg, a prominent investor in software and services businesses, will reinvest in the company, demonstrating continued confidence in Trackunit’s growth and leadership in construction digitalization.

Founded in 2003 and headquartered in Denmark, Trackunit is at the forefront of the construction sector’s digital transformation. The company’s verticalized operating data platform generates valuable data-driven insights via an industry-leading data lake. By connecting construction equipment to the cloud, Trackunit delivers insights that boost operational efficiency and minimize downtime. Serving over 5,000 customers globally, Trackunit’s software and IoT connectivity solutions support equipment manufacturers, rental companies, contractors, and tech partners.

Goldman Sachs Alternatives previously held a majority stake in Trackunit from 2015 to 2021, leveraging its global network and value creation capabilities to support the company’s expansion. With investments from both Goldman Sachs Alternatives and Hg, Trackunit is poised to continue investing in product development, technology, and expansion.

Trackunit CEO Soeren Brogaard stated, “We have built a strong foundation with Hg, advancing our offerings to eliminate downtime in construction. The reinvestment from Hg and partnership with Goldman Sachs Alternatives position us for rapid scaling. We’re committed to our purpose and excited to accelerate innovation and growth.”

Michael Bruun, Partner and Global Co-Head of Private Equity at Goldman Sachs Alternatives, commented, “We are thrilled to partner with Trackunit’s leadership and Hg again to build on their success. We see significant potential in scaling the business and embedding digital solutions across the construction ecosystem.”

The transaction, advised by Evercore, Skadden, Gorrissen Federspiel, CMS, and Deloitte, is subject to regulatory approvals and expected to close in early summer.

Trackunit connects the construction industry through a platform that delivers data and insights to the off-highway sector. With approximately 3.5 million connected assets, Trackunit aims to eliminate downtime, enhance safety, and improve customer profitability sustainably.