Trackunit acquired by PE firm Hg Capital

Trackunit, an Aalborg, Denmark-based global leader in software-led telematics solutions for the off-highway vehicle market, announced that it was acquired by the private equity company HGCapital.

The deal, which has the financial details undisclosed, was made with existing investors Gro Capital and Goldman Sachs. The two acquired the company in 2015.

Trackunit, founded in 2003 and led by CEO Soeren Brogaard, is a company specializing in telematics solutions for all sizes of fleets across a wide range of industries. The company is active in the construction sector and serves OEMs, rental companies and contractors, connecting construction equipment and processing data to the cloud to deliver value-added insights. The SaaS-based Internet of Things (IoT) offering enables Trackunit’s customers to manage fleets of machinery more efficiently. It also helps to improve operations based on real-time data insights, minimizing downtime and allowing for preventive maintenance and the potential to extend the lifetime of vehicles, as well as enabling improved health, safety and environmental performance.