Trackunit
Liberty advises the management team of Trackunit on its investment by Goldman Sachs Alternatives
Liberty Corporate Finance is delighted to announce they have advised the management team of Trackunit, a global leader in software and connectivity solutions for the construction industry, on its investment from Goldman Sachs Alternatives.
It has been a pleasure working with Simon, Tim, and Karina. The Liberty team demonstrated great knowledge and expertise and their support and guidance provided management with confidence throughout the transaction and ensured a positive result and smooth transition of ownership.
Soeren Brogaard
CEO of Trackunit
The investment will mark the next chapter in Trackunit’s ambitious growth journey and will see current majority stakeholder Hg, a leading investor in European and transatlantic software and service businesses, continue to reinvest in the construction technology company’s future.
Goldman Sachs Alternatives previously owned Trackunit from 2015 until 2021 when Hg acquired the business.
Trackunit is at the forefront of the digital transformation of the construction sector, offering a verticalized operating data platform, which generates valuable data-driven insights via an industry leading data lake.
Trackunit’s software and IoT connectivity solutions uniquely support the entire construction ecosystem, serving equipment manufacturers, rental companies, contractors and ecosystem tech partners, integrating the off-highway vehicle, connected site, and mobile workforce. Trackunit serves a global diversified customer base spanning the full construction value chain and has approximately 400 employees.
During Goldman Sachs Alternatives previous ownership period, it leveraged its global network and differentiated value creation capabilities to support meaningful expansion of the Company’s product capabilities and operations.
With Goldman Sachs Alternatives and Hg, Trackunit has an ideal shareholder base to continue investing in cutting-edge product development, technology, people and further expansion as part of its mission to eliminate downtime in the construction industry.
The transaction is expected to close in early Summer.
Almost four years since we advised the Trackunit team on their transaction with Hg, the growth and success of the business has been outstanding. With both Hg and Goldman Sachs now invested in the business together, Trackunit is poised to deliver even greater results as it continues to grow. The whole team at Liberty are delighted to have been part of the latest transaction and have the opportunity to work with Soeren and the team again.
Simon Hill
Partner
+44 (0) 7813 601 051
[email protected]