Geomatikk, a leading provider of tech-enabled services and software that help safeguard and manage critical underground infrastructure, today announced it has entered into an agreement to be acquired by Axcel, a leading private equity firm investing across Northern Europe.
Hg, a leading investor in European and transatlantic technology and services businesses, is the current majority owner and will fully exit its investment in Geomatikk upon completion of the transaction. Management as well as the Norwegian investment company KKA Invest will reinvest and remain shareholders alongside Axcel.
Founded in 2005 and headquartered in Norway, Geomatikk combines tech-enabled detection services and proprietary software to help prevent damage to underground infrastructure, including power cables, fibre networks and water pipes, during excavation and construction work. The company employs approximately 630 people and serves 13,000 asset owners, municipalities, and contractors each year across Norway, Sweden, Finland, Denmark and Spain.
Over the five years of ownership, Hg supported Geomatikk’s transformation from a regionally focused infrastructure protection services business into a pan-European critical infrastructure management platform. This was driven by Hg’s significant investment in the management team, nine strategic acquisitions to build out the company’s software offering, and continued improvements to operational efficiencies including increased AI automation.
Geir Hansen, CEO of Geomatikk, said: “Our partnership with Axcel marks an exciting new chapter for Geomatikk. We have built a strong technology platform for infrastructure protection across Europe, and Axcel’s deep regional expertise and track record of scaling businesses will be invaluable as we pursue further European expansion. I want to thank Hg for their partnership over the past five years. Their expertise has been instrumental in helping us reach this next phase of growth, particularly in building out our software offering and expanding across new geographies.”
Christoffer Müller, Partner at Axcel, said: “Geomatikk is a true Nordic pioneer in its industry, having built a strong and unique position within both infrastructure protection services and network information systems over the past two decades. We’re excited to partner with the management team and founders to continue developing a world-class services and software business, building on the strong progress under Hg’s ownership.”
David Issott and Rob Hallot at Hg, said: “It has been a privilege to partner with Geir and the Geomatikk team. Together, we have transformed the business from a regional services provider into a leading Pan-European platform tackling some of the most pressing infrastructure challenges. This was supported by some excellent hires into the management team, nine strategic acquisitions to build out the software offering, alongside significant operational improvements. The company is exceptionally well positioned for continued growth under Axcel’s ownership, and we wish the team every success.”
Terms of the transaction are not disclosed.
For further information, please contact:
Geomatikk
Geir Hansen, Group CEO geir.hansen@geomatikk.com
Siri Schmidt-Horix, CHRO, Siri.Schmidt-Horix@geomatikk.no
Geir Hansen, Group CEO
Axcel
Christoffer Müller, Partner, cm@axcel.com
Maria Fiorini Lorenzen, Head of Communications, mfl@axcel.com
Hg
Tom Eckersley, tom.eckersley@hgcapital.com
Sam Ferris, sam.ferris@hgcapital.com
About Geomatikk
Geomatikk Group is a leading Nordic technology and services company dedicated to protecting and managing critical underground infrastructure, ensuring undisrupted access to the critical infrastructure society depends on.
Operating across Norway, Sweden, Finland, Denmark, and Spain, with approximately 630 employees, Geomatikk connects infrastructure owners, contractors, and public authorities through advanced digital platforms and specialised field services.
Every day, essential networks for electricity, fibre, water, and gas are at risk of accidental damage during excavation. Geomatikk ensures these networks are accurately identified, mapped, and protected before digging begins, safeguarding critical societal functions and enabling safer, more efficient construction, maintenance, and development activities.
Geomatikk holds ISO certifications across quality, environment, health & safety, and information security, and is committed to science-based climate targets validated by the SBTi.For more information, visit geomatikk.com
About Hg
Hg is an investor in European and transatlantic technology and services businesses. We are an AI leader in private equity, helping to build sector-leading enterprises that supply critical applications or workflow services to deliver intelligent automation for their customers.
