Trackunit Secures Major Investment from Goldman Sachs Alternatives
In a move set to drive the future of construction technology, Trackunit, a leading provider of software and connectivity solutions for the construction industry, has announced a significant investment from Goldman Sachs Alternatives. The deal marks a renewed partnership between the financial powerhouse and Trackunit, with Hg, Trackunit’s current majority stakeholder, also reaffirming its commitment by reinvesting in the company’s future.
This investment signifies a pivotal moment for Trackunit, positioning it to expand its digital offerings, enhance data-driven insights, and accelerate its mission to eliminate equipment downtime in construction.
Strengthening a Proven Partnership
Goldman Sachs Alternatives is no stranger to Trackunit. The investment firm previously owned the company from 2015 to 2021, overseeing a phase of substantial expansion before Hg acquired Trackunit. Now, with its renewed backing, Goldman Sachs Alternatives is poised to support the next wave of innovation in construction technology and digital transformation.
“We are thrilled to partner once again with Trackunit’s leadership team, along with Hg, to build on their success and drive even greater impact for customers globally,” said Michael Bruun, Partner and Global Co-Head of Private Equity at Goldman Sachs Alternatives. “We see significant potential in continuing to scale the business and further embedding digital solutions across the construction ecosystem.”
Pioneering Digitalisation in Construction
Trackunit has been at the forefront of digital transformation in construction, offering a verticalized operating data platform that provides critical insights to optimise fleet performance, reduce downtime, and increase overall efficiency. With a robust data lake at its core, the company delivers actionable intelligence that supports the entire construction ecosystem—from equipment manufacturers and rental companies to contractors and technology partners.
The company’s IoT-powered solutions facilitate seamless off-highway vehicle tracking, connected job sites, and workforce mobility, helping construction firms streamline operations, reduce costs, and improve project outcomes.
“We have built a strong foundation together with Hg, advancing our offerings and working together with customers to eliminate downtime in construction,” said Soeren Brogaard, CEO of Trackunit. “The reinvestment from Hg, alongside the new and proven partnership with Goldman Sachs Alternatives, positions us to scale even faster. We remain fully committed to our purpose, and with Goldman Sachs Alternatives’ expertise and global reach, we are excited to accelerate innovation and growth for our customers and partners worldwide.”
Unlocking the Potential of Data-Driven Construction
Trackunit’s growth strategy revolves around leveraging advanced AI and data analytics to drive predictive maintenance, fleet optimization, and real-time decision-making. With this new capital infusion, the company is expected to further its product innovation, expand its market reach, and continue integrating AI-driven technologies into its offerings.
Hg has been instrumental in fostering Trackunit’s development as a category-leading SaaS business, with a strong emphasis on innovation and scalability. Nick Jordan, Partner, and Soren Holt, Director at Hg, highlighted their continued commitment: “Trackunit is a prime example of how data-rich software businesses can capitalise on their structural data advantage through AI and continue to expand their customer proposition. Our investment in this business has been about fostering this innovation and scaling a category-leading SaaS business. We are pleased to continue supporting Trackunit alongside Goldman Sachs Alternatives, ensuring the company has the resources and expertise to realise its long-term purpose and industry-changing ambitions.”
Goldman Sachs’ Role in Driving Long-Term Success
With over $500 billion in assets and more than 30 years of experience, Goldman Sachs Alternatives is a major player in private equity and alternative investments. The firm’s portfolio spans private credit, infrastructure, real estate, growth equity, hedge funds, and sustainability-focused investments.
Goldman Sachs Alternatives’ past ownership of Trackunit helped expand its product capabilities, operations, and global footprint, and this renewed partnership is expected to further cement Trackunit’s position as a global leader in construction technology.
What This Means for the Construction Industry
This investment is more than just a financial transaction, it’s a statement about the future of digitalisation in construction. With construction firms increasingly relying on technology to enhance efficiency, safety, and sustainability, Trackunit’s ability to provide seamless, data-driven solutions will become even more crucial.
By leveraging Goldman Sachs Alternatives’ expertise, Hg’s ongoing support, and its own innovative technology, Trackunit is well-positioned to revolutionise the industry, ensuring that downtime becomes a thing of the past.
The transaction is expected to close in early summer, setting the stage for a new era of digitally powered construction.
