Danish telematics company Trackunit has confirmed that the acquisition of a majority holding in the business by the private equity arm of Goldman Sachs Alternatives has completed.
The move follows an agreement made on February 10th between Trackunit and its majority owner Hg - which acquired the company in 2021 - and Goldman Sachs which had owned the business with Gro Capital since 2015. HG will remain as a significant shareholder, while Goldman Sachs takes over as the majority shareholder.
Trackunit chief Soeren Brogaard said: “We are thrilled to officially welcome Goldman Sachs Alternatives and to continue our journey with Hg. Their commitment supports our long term ambition to unlock value for our customers and partners through bold innovation, ecosystem partnerships, and by enabling our customers to harness the power of their data and make it useful to eliminate downtime and achieve savings.”
“The focus remains on delivering value and business outcomes for our customers while advancing the construction industry. I look forward to leveraging the global Goldman Sachs network and their extensive investment expertise.”
Established in 1986, Goldman Sachs Alternatives has invested over $75 billion in the years since, and benefits from the worldwide resources of the Goldman Sachs group.
Vertikal Comment
Is this good bad or indifferent for Trackunit?
Hard to say, one assumes that it will help ensure that sufficient funds are available to continuing to invest heavily in developing telematics related technology in what promises to remain a fast paced sector, where you need to keep spending on developments in order to stay out in front and help prevent others muscling in on what is becoming a critically important market.
As to Trackunit users and customers they should not see any change.
Comments