Kempen European Private Equity Fund Invests in Software Company Eque2
The Kempen European Private Equity Fund, the private equity investment fund of Kempen Capital Management has invested in construction software company Eque2.
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.”
The transaction values Eque2 at £46.5m. Kempen is co-investing in the management buyout together with WestBridge Capital; the duo have a majority share with the balance owned by the Eque2 management team. This is the 7th direct deal in the Kempen European Private Equity Fund and the second UK-focused deal for the Fund.
Guy Davies, Managing Partner at WestBridge Capital, said: “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. We are delighted that Kempen has chosen WestBridge as its UK private equity investment partner and that they are co-investing with us in Eque2. We look forward to working with Kempen and the Eque2 management team on this very exciting opportunity. We have worked together with Kempen for years on various other successful deals and we view the Kempen team as a partner in an alliance that offers room for professional, long term entrepreneurial investing.”
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