Hg Acquires Trackunit from Goldman Sachs and GRO Capital

Goldman Sachs Alternatives Acquires Majority Stake in Trackunit

February 10, 2025

Cloud & SaaS

Private Equity at Goldman Sachs Alternatives has agreed to acquire a majority stake in Trackunit from funds advised by Hg and GRO Capital, with Hg reinvesting alongside Goldman Sachs. Trackunit, a Denmark-headquartered SaaS and operating data platform for the construction ecosystem, will receive capital and strategic support to accelerate product development, international expansion and innovation; the deal is subject to customary regulatory approvals and expected to close in early summer.

GRO Capital Reinvests in Trackunit; Minority Stake with Board Representation

June 4, 2021

Cloud & SaaS

GRO Capital announced a reinvestment in Trackunit through a newly established continuation vehicle, taking a minority position and securing board representation. The reinvestment is made alongside existing investor Hg, backing Trackunit’s continued growth as a SaaS-based telematics and machine-insights provider for the construction equipment market.

Trackunit Acquires ZTR's Industrial IoT Division

September 15, 2021

Cloud & SaaS

Trackunit has acquired the Industrial IoT (IIoT) division of ZTR Control Systems to create a unified telematics business serving the construction industry. The combined entity will expand Trackunit's SaaS and telematics capabilities, accelerate innovation, and extend global reach while ZTR's Rail division remains independent.

GTreasury Acquires Hedge Trackers

January 18, 2022

Cloud & SaaS

GTreasury, a treasury and risk management SaaS provider, has acquired Hedge Trackers, a San Jose–based hedge accounting software and consulting firm. The deal brings Hedge Trackers’ Capella hedge accounting software and consulting expertise into GTreasury’s treasury and risk management platform to expand its SaaS capabilities for CFOs and treasury teams.

Trackunit Acquires Satrak

March 25, 2018

Telecommunications

Danish telematics company Trackunit has acquired UK-based telematics provider Satrak, which will continue operating from its Leeds base and be gradually transitioned to the Trackunit brand. The deal expands Trackunit's UK installed base (Satrak has ~23,000 vehicles on its platform) and strengthens the buyer's position in the European telematics market; financial terms were not disclosed.

Hg Acquires Majority Stake in GTreasury

May 18, 2023

Cloud & SaaS

Hg has made a majority investment in GTreasury, the Chicago-based treasury, payments, and risk management SaaS provider. GTreasury's management team and former majority owner Mainsail Partners will remain investors; Hg's capital and software operating expertise will support product development and geographic expansion. Terms were not disclosed.