EQT has bought into TA Associates-backed construction and engineering SaaS provider thinkproject after four years in the latter’s portfolio.
The company says it supports about 2,750 private and public asset owners, project developers and general contractors in more than 60 countries to digitally map the entire life cycle of construction projects.
Projects completed or currently being created with the help of thinkproject’s Construction Intelligence Platform include BMW World in Munich, the Fehmarn Belt Tunnel between Germany and Denmark, Elbe Philharmonic Hall in Hamburg and Hong Kong International Airport.
EQT partner Florian Funk said, “thinkproject has delivered an impressive growth story through organic growth and strategic acquisitions in a highly fragmented market.
“The digitalization of the construction industry offers enormous growth opportunities, we are only at the beginning of a disruptive change.
“EQT will use its entire platform, including its digital and sustainability expertise, its local presence, its domain expertise and its network to further accelerate thinkproject’s expansion.
“We look forward to working with TA Associates and thinkproject’s management team to create a global champion who will lead the way and pioneer the digitization of the world’s largest industry.”
The transaction is expected to close by the end of the year. Arma Partners acted as exclusive financial advisor to thinkproject.
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