AALBORG, Denmark, Feb. 10,
2025 /PRNewswire/ -- Trackunit, a global leader
in software and contech solutions for the construction industry,
has today announced it has attracted investment from Goldman Sachs
Alternatives.
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.
"We are thrilled to partner once again with Trackunit's
leadership team, along with Hg, to build on their success and drive
even greater impact for customers globally," said Michael
Bruun, Partner and Global Co-Head of Private Equity at Goldman
Sachs Alternatives. "We see significant potential in continuing to
scale the business and further embedding digital solutions across
the construction ecosystem."
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.
"We have built a strong foundation together with Hg, advancing
our offerings and working together with customers to eliminate
downtime in construction," said Soeren Brogaard, CEO of
Trackunit. "The reinvestment from Hg, alongside the new
and proven partnership with Goldman Sachs Alternatives, positions
us to scale even faster.
"We remain fully committed to our purpose, and with Goldman
Sachs Alternatives' expertise and global reach, we are excited to
accelerate innovation and growth for our customers and partners
worldwide."
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.
"Trackunit is a prime example of how data-rich software
businesses can capitalize on their structural data advantage
through AI and continue to expand their customer
proposition," Nick Jordan, Partner and Soren Holt, Director at Hg, said. "Our
investment in this business has been about fostering this
innovation and scaling a category-leading SaaS business.
"We are pleased to continue supporting Trackunit alongside
Goldman Sachs Alternatives, ensuring the company has the resources
and expertise to realize its long-term purpose and
industry-changing ambitions."
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.
About Trackunit
Trackunit is a global technology company that connects
construction through one platform to create a living, evolving
ecosystem that delivers data and insights to the off-highway
sector. With circa 3.5 million visible assets connected, it uses
technology to eliminate downtime, improve safety, and help
customers improve the bottom line in a sustainable, cost-effective
way.
Follow us on LinkedIn.
For further information, please
visit: https://trackunit.com/
About Private Equity at Goldman Sachs Alternatives
Goldman Sachs (NYSE: GS) is one of the leading
investors in alternatives globally, with over $500 billion in
assets and more than 30 years of experience. The business invests
in the full spectrum of alternatives including private equity,
growth equity, private credit, real estate, infrastructure,
hedge funds, and sustainability. Goldman Sachs has over
$3 trillion in assets under
supervision globally as of December 31,
2024. Established in 1986, Private Equity at Goldman Sachs
Alternatives has invested over $75
billion since inception. The business combines a global
network of relationships, unique insight across markets, industries
and regions, and the worldwide resources of Goldman Sachs to build
businesses and accelerate value creation across its
portfolios.
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