Herter & Co. – A Teneo Company – Advises Goldman Sachs Alternatives on the Financing of the Acquisition of Trackunit from Hg
Trackunit is a leading operating data platform and SaaS provider for the construction ecosystem globally. The Private Equity business at Goldman Sachs Alternatives will acquire a majority stake in Trackunit from funds advised by Hg and GRO Capital, with Hg reinvesting in the business. The transaction remains subject to customary regulatory approvals and is expected to close in early summer.
Herter & Co. coordinated a competitive process alongside the M&A workstream and structured a financing package including term debt and undrawn facilities, ultimately underwritten by Park Square Capital and SMBC Group as well as KKR.
Herter & Co. served as an exclusive Debt Advisor to Goldman Sachs Alternatives on this transaction.
Founded in 2003 and headquartered in Denmark, Trackunit is at the forefront of the digital transformation of the construction sector, offering a verticalized operating data platform which generates valuable data-driven insights via an industry leading data lake. Trackunit solutions connect construction equipment to the cloud, delivering data-driven insights that enhance operational efficiency and reduce downtime. Its software and IoT connectivity solutions uniquely support the entire construction industry, serving equipment manufacturers, rental companies, contractors and ecosystem tech partners and integrating the off-highway vehicle, connected site and mobile workforce.
