Bowmark Capital to Invest in Eque2 Construction Software
Bowmark Capital, the mid-market private equity firm, recently announced an investment in Eque2, a prominent provider of specialist Enterprise Resource Planning (‘ERP’) software to the construction industry. This strategic move will provide a partial exit for WestBridge, which had previously invested in Eque2 in 2020. Eque2 offers cloud-based business management software solutions to approximately 3,000 customers in the UK construction sector, allowing them to streamline workflows, boost productivity, and enhance margins.
The company is experiencing rapid growth with recurring revenues increasing at over 30% per annum.
This growth is fueled by the construction industry's shift towards digital technology adoption, combined with the tangible revenue benefits and cost savings delivered by Eque2’s specialist software. Bowmark has a strong history of investing in specialized software businesses, and the partnership with Eque2 will enable further growth through technology investment, new product development, and enhanced client service. The investment involves Bowmark acquiring its interest from WestBridge, which has worked closely with Eque2 over the last three years.
Justin Moule, CEO of Eque2, expressed enthusiasm for the partnership with Bowmark, highlighting the opportunity to further invest in product development and customer support. The collaboration aims to build on the significant growth achieved since teaming up with WestBridge in 2020. Simon Kaufman, partner at Bowmark, noted Eque2's strong position in the construction ERP software sector and expressed confidence in backing Justin and his team for the company's next phase of growth. Furthermore, Peter Barkley, partner at WestBridge, emphasized the pleasure of working with Eque2 and shared excitement about supporting the company's continued expansion with Bowmark's partnership.
They've invested in Eque2
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