Spring Capital has completed the sale of its portfolio company, Catenda, a provider of Building Information Management (BIM) and Common Data Environment (CDE) software, to private equity firm GRO.
The transaction saw Spring Capital, acting as the lead investor through its Scandinavian entity Polaris, divest all its shares, achieving a high internal rate of return (IRR) for both itself and its co-investors.
Founded in 2009 as a spin-off from SINTEF, Catenda has established itself as a pivotal force in enhancing collaboration across construction design and building operations.
The company’s main products, Catenda Hub & Site and the recently introduced Catenda Duo, are designed to streamline project management and digital twin operations, respectively, promoting a data-driven and transparent construction industry.
Under the stewardship of Spring Capital, Catenda has experienced substantial growth, cementing its status as a key partner for construction firms and municipal projects worldwide.
The company has notably expanded its reach beyond its Norwegian roots, entering markets in Germany, the Netherlands, France, Japan, and others that are increasingly embracing technology in construction.
Matthew Paul, Vice President of Finance at Spring Capital, expressed pride in Catenda’s accomplishments during the partnership, highlighting the company’s dedication to its core offerings and its ability to serve a global customer base.
Paul also acknowledged the leadership of Einar Gudmundsson and the vision of Håvard Brekke Bell for driving Catenda’s success.
Catenda’s innovative solutions have been instrumental in addressing the challenges faced by the construction industry, with its software gaining wide adoption across Europe and Japan.
This success story reflects Spring Capital’s commitment to investing in subscription software for sectors traditionally slow to adopt innovation, focusing on driving growth, impact, and value creation. – PEVCJournal.com