Hg acquires controlling interest in Trackunit

Global software investor Hg, based in London, Munich and New York, has agreed to acquire a controlling interest in Trackunit, Aalborg, Denmark, from Goldman Sachs and GRO Capital. The addition of Hg as the owner provides specialized software-as-a-service (SasS) expertise at a time of increasing technology mobilization within the construction industry.

Trackunit, a global leader in software-led telematics solutions for off-highway vehicles and the construction market, is now positioned to intensify its global expansion, the company says.

Soeren Brogaard, CEO, Trackunit, said, “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 digitalization of construction. Hg’s understanding, experience and focus on scaling leading SaaS companies provides Trackunit with a knowledgeable partner to consolidate and realize our ambitions in a growing global industry.”

Florian Wolff, partner at Hg, said, “Soeren 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.”

Closing of the transaction is subject to customary regulatory requirements and approvals.