- EQT Private Equity will invest with the existing HVD Group shareholder Adelis
- HVD Group focuses on installation and service professions
- Next is focused on contractors
EQT, via EQT X fund, has agreed to invest in software companies HVD Group and Next. EQT Private Equity will invest together with the existing HVD Group shareholder Adelis, which will increase its investment.
HVD Group and Next provide cloud-based software to tradespeople and construction firms in the Nordics. The companies are based in Stockholm and Linköping, respectively. HVD Group focused on installation and service professions while Next is focused on contractors.
“Investing in HVD Group and Next creates a strong Northern European platform with leading tech and product capabilities,” said Ali Farahani, partner, EQT Private Equity’s Advisory Team. “We have followed the space for several years and are excited to back what is in our mind the most attractive platforms in one of the largest verticals globally.”
Both transactions are expected to close in February 2024.
With these transactions, EQT X is expected to be 30-35 percent invested, according to a press statement.
EQT is a global investment firm with €232 billion in total assets under management. It is based in Stockholm, Sweden.