Bowmark Capital has made an investment in Eque2

Eque2

Founded in 2013 and headquartered in Maidenhead, UK, Eque2 is a leading provider of mission critical, cloud-based enterprise resource planning (ERP) software solutions to approximately 3,000 customers in the UK construction sector. Eque2’s solutions enable customers to manage their core workflows, improve productivity and increase margins.

The company is growing its recurring revenues at over 30% per annum, driven by the ongoing adoption of digital technology in the construction industry, coupled with the demonstrable revenue enhancement and cost savings that Eque2’s specialist software delivers for its clients.

The Deal

Lincoln International advised Bowmark Capital on its investment in Eque2, leveraging its construction software market expertise to support the investment thesis. The transaction served to further strengthen Eque2’s position as a leading provider of construction ERP solutions in the UK market by supporting its next phase of growth. The transaction provided a partial exit for WestBridge, which invested in the company in 2020 and will be re-investing in Eque2 as part of the transaction.

Our Perspective

Lalit Kasat, Lincoln International Managing Director who led the transaction, added, “It was a pleasure to support Bowmark Capital on this important transaction. Eque2 is an impressive business in the rapidly growing UK construction software sector. The business is well positioned to further build on its market position through ongoing investment in product development, customer support and geographic expansion.”

Bowmark Capital

Bowmark is a leading private equity investment firm specializing in technology, data and services companies. Established in 1997, Bowmark manages funds of over £2 billion and has made more than 50 investments. Bowmark’s focus is on four core areas of the technology sector: data and insight, managed IT services, software and technology-enabled business services. The firm invests up to £300 million per transaction through majority or significant minority stakes in companies with compelling growth prospects.

WestBridge

WestBridge is a leading lower mid-market private equity provider with offices in London, Manchester and Cardiff that specialises in primary buyouts and buy-and-build investments. The firm typically invests between £10m-£50m, targeting fast-growing UK SMEs with EBITDA of between £2m-£6m with initial enterprise values of between £15m and £60m.

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