24.01.2023

German acquisition for Trackunit

Danish telematics specialist Trackunit has acquired German software contractor Flexcavo, with the aim of obtaining greater penetration in the construction contractor market.

Berlin based Flexcavo specialises in data enabled workflow and process management in construction, enabling contractors to increase their efficiency, reducing costs and improving collaboration between sites, yards and headquarters. The deal will leave it free to continue to build its software solutions for contractors, which relies heavily on the use of telematics.
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Trackunit chief executive Soeren Brogaard said: “We are delighted to welcome Flexcavo into the Trackunit group, this significantly strengthens our offering to contractors and those with mixed fleets. We’re looking forward to leveraging Flexcavo’s expertise and make sure we’re serving our customers in the best way possible moving forward. Our team has doubled in the last 18 months and with the acquisition of Flexcavo, we are on track to continue growing. We’re ambitious and this move fits perfectly with our overall strategy.”

Flexcavo co-founder Benedict Aicher added: “We are excited and proud to join forces with Trackunit. This enables us to double down on our ambition to be the leading partner for every contractor who strives for excellence and wants to make the most of every single job. Being part of the Trackunit ecosystem allows for a deeper integration into the contractor value chain and beyond. I know the Trackunit team shares our commitment to build the most useful industry for the world, and I can’t wait to get started.”

His business partner Leonard Fricke said: “It will boost our developing capabilities significantly so that contractors and rental companies can benefit from even faster feature releases, real-time data across all machinery, and even more automation of processes.”
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Flexcavo founders Benedict Aicher (L) and Leonhard Fricke

Trackunit, was itself acquired by Hg Capital in 2021 spurring a major expansion, which included the acquisition of the Industrial Internet of Things (IIoT) division of US based ZTR that same year. It now employs around 400, working from offices in Denmark, Canada, United States, Singapore, Sweden, Norway, France, Holland, Germany, UK, Australia, and Japan.

Flexcavo was founded in July 2020, by Benedict Aicher who had previously worked with management consultants McKinsey, and Leonard Fricke a data scientist with Bertelsmann who had also developed his own products.
They started with the vision to revolutionise the construction industry by helping streamline construction projects with its data-driven resource scheduling and telematics enabled workflow automation platform. It already has around 1,000 users with 30,000 machines working across 2,500 sites.