Amsterdam – CFI is pleased to announce it has acted as the corporate finance advisor to the management shareholders of LOCATIQS Group (“LOCATIQS”) in its transaction with Sogelink, a portfolio company of Keensight Capital (“Keensight”).
Sogelink, a leading provider of software solutions for infrastructure, construction, and property management professionals, has successfully completed the acquisition of LOCATIQS to create a leading pan-European construction technology champion. This new structure will offer its clients a strong value-add proposition ranging from the first sketches of an asset right through to its full digital twin.
Keensight, the majority shareholder of Sogelink and Main Capital Partners (“Main”), LOCATIQS’ majority shareholder and growth partner since 2017, have worked together with both management teams to make this acquisition possible. During the partnership with Main, revenues increased six-fold from €6 million to approximately €35 million, primarily attributed to an increased focus on productised recurring revenue streams.
Headquartered in Nieuwegein, the Netherlands, LOCATIQS was founded through the combination of Dutch software companies GOconnectIT and Geodan in 2021. It has since established itself as the Netherland’s leading specialist in product software solutions and complementary consultancy in the geographic information systems (“GIS”) and field service management (“FSM”) markets.
LOCATIQS benefits from the highly skilled expertise of a team with over 250 professionals, working on innovative (software) solutions for collecting, analysing, combining and visualising (location intelligence) data for a safer, smarter and more sustainable world above and below ground. These solutions, for example, help to prevent excavation damage, with the efficient and safe rollout of fibre optic networks or the coordination of relocations during adjustments to motorways, but also with the optimum route in complex urban logistics or in determining the most effective sustainability option within a municipality. In addition, they also help with all the challenges that local authorities have in implementing the environmental legislation.
Following a successful buy-and-build strategy, supported and financed by Main, including the acquisitions of Geodan van den Berg (2018), Swiss Knife (2019), and Geodan (2020), LOCATIQS has become a market leading platform, with a mobile offering in each domestic market. It has also expanded its customer base across the Benelux, Germany, Switzerland and the UK.
The combination of the two groups will create a European champion across multiple construction technology markets. The combined group is further materialising Sogelink’s strategy which aims to be the best-in-class, most innovative, European construction technology company, offering its clients a full suite of solutions. These range from cutting-edge design and engineering solutions for all network and civil infrastructure, a unique on-field application toolbox through to integrated solutions that leverage data location intelligence to solve complex spatial challenges.
With more than 650 employees across Europe, total revenues of more than €130 million and a double-digit organic growth trajectory, the partnership represents a high potential entrepreneurial project for the management teams.
CFI’s role in the process
In a strong show of commitment and trust in the future of the combination, the management shareholders of LOCATIQS roll-over a significant portion of their proceeds. CFI acted as the trusted advisor to the management throughout the (process leading up to the) transaction and in negotiating new shareholder and management terms.
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