Stirling Square, TA Associates, and Macquarie Capital Complete Acquisition of Byggfakta
Stockholm, 8 May 2024 – A consortium consisting of Stirling Square, TA Associates (“TA”), and Macquarie Capital has completed the acquisition of Byggfakta, a leading information and software provider within the construction industry. The acquisition follows a public offer to the shareholders of Byggfakta, unanimously recommended by the Independent Bid Committee of Byggfakta’s Board of Directors.
Byggfakta is a leading provider of data, insights, and software solutions for the global construction industry, serving over 50,000 customers. The company, headquartered in Ljusdal, Sweden, was founded in 1936 and has more than 2,000 employees spanning more than 20 countries. Byggfakta’s core operations encompass five areas: Project Information, Specification, Market Intelligence, Product Information, and E-tendering.
Stirling Square has been the largest shareholder in Byggfakta since 2017, with its relationship to senior management dating back to 2014. TA acquired a significant minority stake in Byggfakta in September 2020, joining Stirling Square. Since their initial investments, Stirling Square and TA have enabled value creation by supporting Byggfakta’s efforts to improve its commercial and operational capabilities, and in executing on its acquisition strategy to broaden the company’s service offering and expand internationally. Stirling Square and TA have now formed a partnership with Macquarie Capital, to support Byggfakta’s future journey.
Stirling Square, TA, and Macquarie Capital see great opportunities for Byggfakta to become a global champion within the construction technology industry with a central role in the ongoing development of the sector. By facilitating operational and financial resources and leveraging the consortium’s combined track record from similar growth stories, Byggfakta will be positioned to accelerate delivery of continued organic growth and strategic M&A.
Ben Hopper, Managing Director, Stirling Square,commented:
“The return to a private markets environment is an important moment for Byggfakta as we continue supporting the company to achieve its ambition to become a global leader in data and software solutions for the construction industry. We believe this transition from the public markets will enable the company to accelerate its long-term growth potential through further international M&A supported by long-term shareholders providing additional capital and deep domain expertise. We are delighted to be working alongside Dario and the talented team at Byggfakta together with our longstanding partner TA and to welcome an investor we have long admired in Macquarie Capital.”
Naveen Wadhera, Managing Director, TA, comments:
“Since partnering with Byggfakta in 2020, we have witnessed significant progress and are optimistic about the substantial opportunities that lie ahead with the acceleration of the company’s M&A strategy. We look forward to working with the Byggfakta team, Stirling Square and Macquarie in the execution of our new joint strategy.”
Adam Joseph, Head of Private Equity for Macquarie Capital Principal Finance Europe, comments:
“We have been following the development of Byggfakta for some time and are impressed with its achievements to date that have positioned the company as a leader within the construction software and data industry. We are looking forward to joining forces with Stirling Square and TA in supporting Byggfakta’s continued growth journey.”
Dario Aganovic, CEO, Byggfakta:
“Over the years, Byggfakta has successfully established unique database content, market leading software, and strong customer engagement. Looking ahead, we have a clear strategy to become an even stronger global player and a world-leading company in our industry. I am excited to deepen our partnership with Stirling Square and TA and to join forces with Macquarie Capital in the years to come,enabling an acceleration of our strategy.”
On 6 May 2024, the offer was closed with Stirling Square, TA, and Macquarie Capital, through Giant BidCo, controlling 99.8 per cent of the shares in Byggfakta.
About Byggfakta
Byggfakta Group is a global data and software company with roots stretching back to 1936, more than 2,000 employees and operations in 26 countries. The Company offers services that connect the construction sector, thereby increasing total growth and promoting better construction. Its unique data, insights and software solutions help customers to maximise sales, increase efficiency and build more sustainably. The core operations encompass five areas: Project Information, Specification, Market Intelligence, Product Information, and E-tendering. Byggfakta mainly generates subscription revenue, which currently exceeds SEK 2 billion annually. Byggfakta’s goal is to grow organically by 10% per year and to grow an additional 5–15 percent per year through acquisitions. Byggfakta Group has been listed on Nasdaq Stockholm since 2021.
About Stirling Square
Stirling Square is a private limited liability company (société à responsabilité limitée) governed by the laws of the Grand Duchy of Luxembourg, having its registered office at 8, rue Lou Hemmer, L-1748 Senningerberg, Grand Duchy of Luxembourg and registered with the Luxembourg Trade and Companies Register (Registre de Commerce et des Sociétés, Luxembourg) under number B 259546.
Stirling Square is a leading pan-European mid-market private equity firm based in London. Stirling Square has extensive experience investing in the Nordics. Its current portfolio includes Infobric, Assist24, Logent and SAR. Founded in 2002, Stirling Square is a partner to leading European mid-market businesses, with over 20-year track record of investing with conviction in market-leading platforms in the EUR 100 million to EUR 500 million 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 has raised four funds and manages over EUR 3 billion on behalf of a global and diverse investor base. The investment team consists of more than 20 investment professionals, who have in aggregate committed 16 per cent of the total capital of the fourth fund ensuring full alignment with the success of its portfolio companies and their management teams. Stirling Square has been the largest shareholder in Byggfakta since 2017, with its relationship to senior management dating back to 2014.
About TA Associates
TA is a private limited liability company (société à responsabilité limitée) governed by the laws of the Grand Duchy of Luxembourg, having its registered office at 40, avenue Monterey, L-2163 Luxembourg, Grand Duchy of Luxembourg and registered with the Luxembourg Trade and Companies Register (Registre de Commerce et des Sociétés, Luxembourg) under number B 259878.
TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries—technology, healthcare, financial services, consumer and business services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has over 150 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong. TA acquired a significant minority stake in Byggfakta in September 2020, alongside existing investor Stirling Square.
About Macquarie Capital
Macquarie Capital is the advisory, capital markets and principal investment arm of Macquarie Group. It encompasses corporate advisory, a full spectrum of capital solutions, including capital raising services from equity, debt and private capital markets and principal investments from Macquarie’s balance sheet. Macquarie Capital has deep sector expertise in the aerospace, defense and government services, consumer, gaming and leisure, critical minerals, energy, financial institutions, healthcare, industrials, infrastructure, services, software, technology, telecommunications and media sectors.
Macquarie Capital Principal Finance, the financing and principal investing arm of Macquarie Capital makes investments from Macquarie’s balance sheet, provides flexible primary financing and secondary market investing solutions for corporate and commercial real estate clients across North America, Europe and Australasia.
