Spring Capital has announced the sale of its portfolio company Catenda to private equity company GRO.
The transaction sees Spring Capital divesting all its shares, resulting in a high internal rate of return for itself and its co-investors.
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Spring Capital, through its Scandinavian investment entity Polaris, invested in Catenda.
Founded in 2009 as a spinoff from SINTEF, Catenda provides building information management and common data environment software.
With the acquisition, Catenda intends to accelerate its global commercial scaling and continue driving the digital and sustainable transformation of the construction industry.
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Catenda’s flagship product focuses on the design and preconstruction stages of construction and infrastructure projects.
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By GlobalDataCatenda Hub & Site offers open ecosystem collaboration and data exchange software for these projects.
Meanwhile, the company’s latest innovation, Catenda Duo, aims to optimise digital twin operations management, thereby reducing the time and cost of operations.
Under Spring Capital’s stewardship, Catenda has seen growth and reportedly become a trusted partner for construction companies and municipalities, particularly for large-scale projects.
Spring Capital Finance vice-president Matthew Paul said: “We are proud of what Catenda has achieved throughout our partnership.
“Their ability to stay focused on their core product offering and deliver value for their global customer base brought us to this point. We are very excited for and appreciative of the entire team; especially Einar Gudmundsson for his leadership and the vision of Håvard Brekke Bell.”
Catenda has expanded its customer base beyond Norway, establishing a presence in Germany, the Netherlands, France, Japan, and other countries.
Earlier this month, Catenda announced its partnership with Beecot, aiming to transform the construction industry through seamless integration and collaboration.
Specifically, this collaboration combined Beecot’s advanced visualisation technology with Catenda’s application programming interfaces.
