Hg acquires Geomatikk

The GP is deploying from its Hg Mercury 2 Fund, which held a final close on £575m in February 2017. The vehicle buys majority stakes in small-cap tech businesses in Europe. 

Sources told sister publication Debtwire in November that the company had mandated ABG Sundal Collier for the sale process, and that the company was marketed based on EBITDA of around NOK 140m (€13.2m). 

As part of the deal, Visma executive chair Øystein Moan will join Geomatikk as chairman of the board.The GP said in a statement that Geomatikk had the potential to follow a pattern similar to Visma and become a market leader in underground mission-critical GIS data and detection.

The deal is subject to regulatory approval.

Company
Founded in 2005 and based in Oslo, Geomatikk is a tech-enabled service provider managing critical "check-before-you-dig" requests in Norway, Sweden and Finland.

It core product is a mapping of all underground infrastructure in the countries it operates, which underpins an end-to-end technology platform that manages these pre-dig checks and complementary workflows such as site inspection, damage resolution and network monitoring. 

It employs more than 100 staff, according to its LinkedIn page. According to its annual report, the company in 2019 generated NOK 700m (€65.8m) in revenues and had an EBITDA of NOK 99.3m (€9.3m). 

People
Geomatikk - Knut Bratsberg (CEO, founder).
Hg - David Issott (partner).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Nordics
• Technology
• HgCapital
• Norway