Stockholm, 21th June 2023: Summa Equity (“Summa”), a purpose-driven thematic investment firm, today announces the sale of its majority stake in Infobric, a leading provider of software solutions for the European construction industry, to Stirling Square Capital Partners (“Stirling Square”) a pan-European mid-market private equity firm. Summa will re-invest alongside Stirling Square, and the management team, as a minority investor. Financial terms of the transaction, which is subject to customary regulatory approvals, are not being disclosed.
Stirling Square will work closely with the management team to continue the business’ expansion into new markets and to invest in new products and services, including through selective acquisitions to complement organic growth.
Infobric, headquartered in Sweden with operations across the Nordics and the United Kingdom, provides end-to-end construction software products supporting the digitalization of the construction industry. With a suite of SaaS solutions, Infobric enables its customers to manage site safety, machinery and equipment, contracts, and workers, and provides efficient sharing of resources and workforce optimization. By facilitating the construction industry’s journey to zero accidents, fraud, and emissions, Infobric provides valuable tools to support customers on their impact journeys.
Since being acquired by Summa in 2018, Infobric has pursued impressive geographical growth and expanded its offering, while making several acquisitions across the sector. Infobric is now the market leader in Sweden, Norway, and the UK with several hundred employees, over 10,000 customers and 300,000 individual users.
Summa Partner Gisle Glück Evensen said: “Infobric has made huge strides in transforming the construction industry, and we are proud to have supported them in growing fivefold since our initial investment. Infobric has an important role to play in actualizing a more efficient, safe, and sustainable future while capitalizing on the industry's positive long-term growth outlook. We are excited to work alongside Stirling Square to support the next phase of Infobric’s growth as a minority investor.”
Infobric President and CEO Dan Friberg commented: “During our time working with Summa we have achieved tremendous growth. Their unwavering support and expertise mean we are now well-positioned to become a global leader in the digital construction landscape and deliver on our goals to create a safer and more sustainable industry. We are proud to welcome Stirling Square as our new investor as they bring sector expertise, local market knowledge as well as pan-European expertise which will be critical as we continue to expand internationally. Importantly, they also share Infobric’s values as growth-oriented long-term entrepreneurial investors who share our commitment to sustainability.”
Henrik Lif, Partner, at Stirling Square added: “We are delighted to invest in Infobric alongside its ambitious management team who have built a software leader in the build phase of the construction value chain. We look forward to bringing our experience in the ConTech sector to support the business to accelerate its impressive growth trajectory including enabling further international growth and expanding the software offering.”
Stirling Square has a long track record of investing in leading global construction technology companies, including Byggfakta AS (STO:BFG), NBS, Glenigan, Vortal and BCI Central. Current portfolio companies in the Nordics include AssistansBolaget, Logent and SAR.
More information and photos are available at: https://news.infobricgroup.com
Founded in 2004, Infobric is a leading digitalization partner for the construction sector. They provide a toolbox of turnkey services that are ready to be integrated into our customers’ digital ecosystems. Infobric’s mission is to create socially sustainable and resource-efficient workplaces, where the services we deliver make work safer and easier for hundreds of thousands of people every day. For more information, visit www.infobric.no
About Summa Equity
Summa invests in companies that are solving global challenges and creating positive Environmental, Social, and Governance (ESG) outcomes for society. Summa’s purpose is to co-create win-win for investors, portfolio companies, and society through aligning its vision and investing in line with the UN SDGs. Summa invests across the themes of Resource Efficiency, Changing Demographics, and Tech-Enabled Transformation, and has c. EUR 4bn assets under management. For more information, visit www.summaequity.com
About Stirling Square Capital Partners
Stirling Square Capital Partners is a pan-European partner to mid-market businesses, with a 20-year track record of investing with conviction in market-leading platforms in the EUR 100m to EUR 500m enterprise value range. Since inception, Stirling Square has invested in 30+ platform companies and 100+ add-on acquisitions globally, helping to create regional and global champions. The firm manages over EUR 3bn on behalf of a global and diverse investor base. For more information, visit www.stirlingsquare.com