EQT is acquiring shares from previous investor TA Associates and Thinkproject founder Thomas Bachmaier. All existing shareholders and the Thinkproject management team intend to reinvest significantly in the company. The company, which claims to be the European market leader in construction intelligence solutions, intends to accelerate its further expansion. Subject to regulatory approvals, the transaction is expected to close by the end of the year.
“Thinkproject has presented an impressive growth story”
The Munich-based company has over 450 employees in 18 offices in 11 countries and approximately 2,750 customers in 60 countries. Among other projects implemented with the help of the company's SaaS platform are the BMW Welt in Munich, the Fehmarn Belt Tunnel between Germany and Denmark, the Elbphilharmonie in Hamburg, and Hong Kong International Airport. Gareth Burton, CEO of Thinkproject, says:
“The digitalization of construction industry is one of the most exciting projects in the global economy.”
The Munich-based company is a leader in the fast-growing market of so-called AECO software – programs for architecture, engineering and construction work as well as owners – and continues to gain market share.
“Thinkproject’s offering in the market is compelling and differentiated, which, combined with the market opportunities, provides all the ingredients for continued growth.”
Florian Funk, Investment Advisor for EQT, says:
"Thinkproject has delivered an impressive growth story through organic growth and strategic acquisitions in a highly fragmented market. The digitalization of the construction industry offers enormous growth opportunities; we are only at the beginning of a disruptive transformation."
