The Kempen European Private Equity Fund has backed the senior management team at construction software company Eque2 to acquire the business from its existing shareholders
Eque2 supplies business management software to more than 2,700 customers in the construction, housebuilding and contracting industries. Its software enables builders, contractors, architects, engineers and estimators to integrate the commercial and financial aspects of their business, driving efficiencies and ultimately improving profitability. Revenues have grown significantly over the last four years and it has proven to be exceptionally resilient during the Covid pandemic. The company continues to invest significantly in customer service and product development to allow customers to further integrate and mobilise the commercial and financial aspects of their business to drive efficiencies and ultimately improve profitability.
The transaction values Eque2 at GBP46.5 million. Kempen co-invests in the management buyout together with its long-time UK investment partner WestBridge Capital and as a group they have a majority stake in the capital of the business, with the balance owned by the Eque2 management team. This is the seventh direct deal in the Kempen European Private Equity Fund and the second UK-focused deal for the Fund.
Source: Private Equity Wire
