TechDogs-"Spring Capital Successfully Exits Investment In Catenda, A Leader In Construction Project Software"

Financial Technology

Spring Capital Successfully Exits Investment In Catenda, A Leader In Construction Project Software

By Business Wire

Business Wire
Overall Rating

NEW YORK--(BUSINESS WIRE)--Spring Capital announces the sale of its portfolio company, Catenda, to Private Equity firm GRO. As the lead investor, Spring Capital has sold all its shares in the transaction on a high IRR for itself and co-investors.

Founded in 2009 as a spin-off from SINTEF, Catenda is a leader in Building Information Management (BIM) & Common Data Environment (CDE) software. Their platform aims to improve collaboration from construction design through building operations, making the industry data-driven and transparent.

Their core offering is Catenda Hub & Site, an open data exchange platform facilitating effective project management and collaboration. The latest solution, Catenda Duo, provides digital twin operations management, reducing the time and cost of operations.

Since Spring Capital’s investment through its Scandinavian investment entity Polaris, Catenda has grown significantly, becoming a trusted partner for construction companies and municipalities seeking innovative solutions for large-scale projects.

In addition to serving customers in their native Norway, Catenda has successfully expanded into Germany, the Netherlands, France, Japan, and several other nations that have begun prioritizing technology as a tool within the construction industry.

"We are proud of what Catenda has achieved throughout our partnership," said Matthew Paul, Vice President of Finance at Spring Capital. "Their ability to stay focused on their core product offering and deliver value for their global customer base brought us to this point. We are very excited for and appreciative of the entire team; especially Einar Gudmundsson for his leadership and for the vision of Håvard Brekke Bell."

Catenda's success is attributed to its innovation and ability to address industry challenges. Construction companies across Europe and Japan have widely adopted the company's software, seeking to streamline operations and improve project outcomes.

About Spring Capital

Spring Capital is an investment firm specializing in subscription software within important industries that have traditionally been late movers to innovation. With a proven track record of successful investments, Spring Capital is committed to partnering with exceptional management teams to drive growth, impact, and value creation. For more information, please visit www.springcapital.com.

Contacts

Dana Miller
dana.miller@gocrisp.com

First published on Mon, Mar 18, 2024

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