“Over the past years Trackunit has grown significantly and is today positioned as one of the leading global providers of fleet management solutions for off-highway vehicles. The management team is very excited about the new ownership and believes the competences of Goldman Sachs and GRO Capital will be highly valuable to the company. We will continue to focus on innovative and value-add products and services for OEMs, rental companies, contractors and other key customers around the world”, says Jørgen Raguse, CEO of Trackunit.

“We believe that Trackunit is well positioned to continue its impressive growth on the back of a leading services offering with significant customer value-add”, says Michael Specht Bruun, Managing Director in the Merchant Banking Division of Goldman Sachs. “We see significant global growth and market penetration potential and are excited about partnering with GRO Capital and the management team to support the company’s continued growth”.

“We are very impressed by the founders and management who have created a market leader in the off-highway telematics industry. Trackunit is a technology driven company with a proprietary software platform operating in the fast growing fleet management market. We look forward to supporting the company in reaching its full potential in our joint ownership with Goldman Sachs Merchant Banking Division”, says Lars Dybkjær, Managing Partner at GRO Capital.

Closing of the transaction is subject to customary regulatory requirements and approvals.

Atrium Partners acted as financial advisor to the selling shareholders. Nordea has provided debt financing for the transaction.

For more information, please contact: Fiona Laffan, Managing Director, Media Relations at Goldman Sachs: +44 20 7774 9649
Lars Dybkjær, Managing Partner at GRO Capital: +45 29 43 55 29

About Trackunit

Trackunit is a Danish company specializing in telematics solutions for all sizes of fleets across a wide range of industries. Its solutions meet the challenges and exacting demands of leading businesses world-wide, from the transport and service sectors to rental companies and the construction industry. Since 2003, Trackunit has specialized in the design, development and production of fleet management systems. From the hardware units to the software solutions, Trackunit develops and manufactures the complete fleet management system. Further information on Trackunit can be found on the website: www.trackunit.com

About Goldman Sachs Merchant Banking Division

Since 1986, the Merchant Banking Division of Goldman Sachs has raised over $140 billion of capital in equity, credit and real estate funds to invest in a variety of geographies, industries and transaction types. With Merchant Banking representatives in six countries around the world, Goldman Sachs is one of the largest managers of private capital globally, offering deep expertise and longstanding relationships with companies, investors, entrepreneurs and financial intermediaries. Goldman Sachs is leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world. Further information on Goldman Sachs can be found on the website: www.goldmansachs.com

About GRO Capital

GRO Capital provides capital and knowledge to high quality companies with growth ambitions. Through active ownership our objective is to develop and grow the companies we invest in. GRO Capital targets knowledge intensive sectors and look to identify companies with leading positions, high growth potential and strong management. GRO Capital has raised DKK 1bn with target equity investment sizes of around DKK 50- 200m. GRO Capital was founded in 2014.Further information on GRO Capital can be found on the website: www.grocapital.dk