Kempen European Private Equity Fund acquires direct interest in software company Eque2
Summary
The Kempen European Private Equity Fund has backed the senior management team at construction software company Eque2 to acquire the business from its existing shareholders. Its software enables builders, contractors, architects, engineers and estimators to integrate the commercial and financial aspects of their business, driving efficiencies and ultimately improving profitability. Sven Smeets, Managing Director Kempen Private Markets, comments: “Eque2 is a very attractive business. The management team is experienced with a proven track record and the company operates in a resilient market that is expected to grow strongly over the next few years as the UK emerges from the economic impact of Covid and Brexit. We are delighted to be able to back this highly experienced management team, who we are confident will successfully steer the business to its next level of growth.” Edzard Potgieser, Director Kempen Private Markets, adds: “together with our partner WestBridge Capital, we are looking forward to supporting and helping drive further investments and growth in the Eque2 business in the years to come.” Guy Davies, Managing Partner at WestBridge Capital, says: “We are pleased to report that with the support of our co-investor Kempen we have successfully closed the £46.5m management buyout of construction software company Eque2.
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