In a bold move that signals a renewed commitment to digital transformation in construction, Goldman Sachs Alternatives is reinvesting in Trackunit, a leading IoT and SaaS provider in the industry. This strategic partnership, backed by Hg, Trackunit’s majority stakeholder, is set to propel the company’s growth trajectory and integrate digital solutions across the construction sector on an unprecedented scale.
The return of Goldman Sachs Alternatives to Trackunit—having previously owned the company from 2015 to 2021—underscores the firm’s confidence in Trackunit’s vision and leadership. Michael Bruun, Partner and Global Co-Head of Private Equity at Goldman Sachs Alternatives, expressed enthusiasm about the partnership, stating, “We are thrilled to partner again with Trackunit’s leadership team and Hg to drive greater impact for customers worldwide. There is significant potential to scale the business further and integrate digital solutions across the construction sector.”
Trackunit, renowned for its data-driven platform that delivers actionable insights, is poised to revolutionize the construction industry by eliminating downtime—a mission that CEO Soeren Brogaard emphasizes will be accelerated by the continued investment from Hg and the reinvestment from Goldman Sachs Alternatives. The company’s IoT connectivity solutions are already integral to equipment manufacturers, rental firms, contractors, and tech partners, linking off-highway vehicles, connected sites, and mobile workforces. With a workforce of around 400 employees, Trackunit supports a diverse global customer base, spanning the entire construction value chain.
Hg’s Nick Jordan and Soren Holt highlighted Trackunit’s potential as a data-driven SaaS leader, stating, “Trackunit exemplifies how software businesses can leverage AI and structural data advantages to enhance customer solutions. We have focused on fostering innovation and scaling this category-leading SaaS business. We are excited to continue supporting Trackunit alongside Goldman Sachs Alternatives to help realize its long-term industry-changing ambitions.”
The collaboration between Goldman Sachs Alternatives and Hg is expected to catalyze technological advancements, product development, and global expansion for Trackunit. Previously, Goldman Sachs Alternatives played a pivotal role in expanding Trackunit’s product capabilities and operational reach. Now, with both powerhouses backing the company, the stage is set for accelerated growth and innovation.
This strategic move is anticipated to have a profound impact on the construction sector. As the industry grapples with sustainability challenges and the need for digital transformation, Trackunit’s advanced solutions offer a pathway to smarter, more efficient construction practices. The integration of IoT and data analytics can optimize resource use, reduce waste, and enhance project management, aligning with the growing demand for sustainable construction methods.
Moreover, the partnership highlights a broader trend in the construction industry: the increasing importance of data and digital solutions. As construction projects become more complex and resource-intensive, the ability to harness data for actionable insights is becoming a critical competitive advantage. Companies that can leverage technology to streamline operations, reduce downtime, and enhance efficiency are poised to lead the industry into a more sustainable future.
The transaction, expected to close in early summer, marks a pivotal moment for Trackunit and the construction industry as a whole. As Trackunit accelerates its mission to eliminate downtime and integrate digital solutions, it sets a benchmark for innovation and sustainability in construction. The renewed partnership with Goldman Sachs Alternatives and Hg not only secures Trackunit’s future but also sends a clear message to the industry: the future of construction is digital, data-driven, and sustainable.
This development is likely to shape the sector in profound ways, driving a shift towards more efficient, technologically advanced construction practices. As industry leaders and investors take note, the ripple effects of this partnership could spur further innovation and investment in digital transformation, paving the way for a more sustainable and resilient construction industry. The stage is set for a new era in construction, one where technology and sustainability converge to build a better, more efficient world.