GRO Capital today announced a reinvestment in Trackunit, a global leader in software-led telematics solutions for the off-highway vehicle market, through a newly established continuation vehicle securing a minority position with board representation.
In March 2021, GRO Capital and Goldman Sachs sold Trackunit to Hg Capital after 6 years of ownership. GRO Capital knows the company and has followed its exceptional journey during the last six years and hence have decided to support the company together with Hg.
Lars Dybkjær, Managing Partner, GRO Capital, says: “We believe Trackunit will continue to drive innovation in the construction industry globally based on a very strong position within the market. We are excited to continue to support the company and the management team during this next journey.”
Trackunit is the leading SaaS-based IoT solution and machine insights provider to the global construction equipment industry. Trackunit collects and analyzes machine data in real-time to deliver actionable, proactive and predictive information, empowering customers with data-driven foresight.
Trackunit promises to lead the technology engagement to help eliminate downtime. The ambition of this mission is not only to recover from budget and schedule overruns, but also to re-establish the reputation of the industry for innovation and leadership.
From operator safety and machine health to business optimization, Trackunit’s industry-leading telematics software, hardware and fleet management services benefit the everyday operations of customers worldwide. Trackunit services its customers directly from its headquarters in Denmark and US (Chicago), and through subsidiaries in Sweden, Norway, France, Holland, Germany and England.
Visit www.Trackunit.com for more information.
About GRO Capital
GRO Capital is a leading North European private equity fund with a focus on B2B software and tech enabled businesses with strong growth prospects. GRO Capital serves as active owners developing companies with a view to creating long- term value.
For further information about GRO Capital, please visit: www.grocapital.dk.
For additional information, please contact:
Lars Dybkjær, Managing Partner
Phone: +45 29435529