11.2020: EQT as acquired a majority stake in thinkproject, Europe’s leading SaaS provider of construction intelligence solutions for the Architecture, Engineering, Construction and Owner-operated (AECO) industry. thinkproject helps improve its customers’ delivery times, reduce waste and energy consumption, while improving sustainability in one of the key carbon emitting industries globally. Its software product suite covers the full construction lifecycle and is driving digitization in one of the largest but least digitally penetrated industries.
The EQT IX fund has acquired the majority stake from TA Associates and founder Thomas Bachmaier. TA, Thomas Bachmaier and the management team will re-invest significantly into the Company in the context of this transaction. thinkproject’s management team, led by CEO Gareth Burton and CFO Ralf Gruesshaber, will continue to lead the Company and build on its strong track record of growth and innovation.
Founded in 2000 and headquartered in Munich, thinkproject serves more than 250,000 users in over 60 countries. Its cloud-delivered, integrated digital solutions help customers be more efficient, cost-effective and simplify their digital transformation across the construction lifecycle. The Company employs around 450 people and its software is used by 2,750 customers across international private and public asset owners, project developers, and general contractors.
thinkproject’s underlying end market, the construction industry, is one of the largest and least digitized industries globally. EQT intends to support the current direction taken by the management team by further growing the Company’s global customer base, backing product extension, geographical expansion and supporting a consolidation of the fragmented construction software space. thinkproject is expected to leverage the full EQT platform during its next phase of growth, including EQT’s digital and sustainability expertise, local-with-locals presence across Europe and Asia-Pacific, and domain experience. Moreover, the Company will be supported by the EQT Network, including advisors from EQT’s software, real estate and infrastructure space.
Centum Capital provides this information as a market news, but has not been involved in the transaction.