Goldman Sachs Alternatives acquired a majority stake in Trackunit, a Denmark-based SaaS and IoT platform provider for the construction industry, from Hg and GRO Capital.

The deal, expected to close in early summer pending regulatory approvals, marks Goldman Sachs’ renewed commitment to the company after previously owning a majority stake between 2015 and 2021.

Hg will reinvest in Trackunit, reinforcing its confidence in the company’s continued growth and leadership in construction digitalization. Founded in 2003, Trackunit provides a cloud-connected operating data platform that enhances efficiency, reduces downtime, and integrates off-highway vehicles, connected sites, and mobile workforces. The company serves over 5,000 customers globally across equipment manufacturing, rental, and construction services, with around 400 employees.

Goldman Sachs plans to use its global network and value creation expertise to accelerate Trackunit’s expansion. CEO Soeren Brogaard emphasized that this partnership will drive product innovation and market growth, allowing the company to better serve its customers.

Michael Bruun, partner and global co-head of private equity at Goldman Sachs Alternatives, highlighted the vast potential for digital transformation in construction. Scott Myers and James Robinson, co-heads of European technology private equity at Goldman Sachs, underscored Trackunit’s critical role in the construction sector and its ability to harness AI-driven software and data solutions.

Nick Jordan and Soren Holt from Hg described Trackunit as a category-leading SaaS business and reaffirmed their commitment to supporting its long-term vision.

Advisors on the transaction included Evercore, Skadden, Gorrissen Federspiel, CMS, and Deloitte for the sellers. Goldman Sachs Alternatives was advised by Goldman Sachs International, Morgan Stanley, White & Case, A&O Shearman, Sullivan & Cromwell, and Deloitte.