Founded in Norway in 2005, Geomatikk combines tech-enabled detection services and proprietary software to help prevent damage to underground infrastructure such as power cables, fibre networks and water pipes during excavation and construction work. The company employs 630 people and serves 13,000 asset owners, municipalities and contractors each year across its five markets.
“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,” says Christoffer Müller, Partner at Axcel. “We’re excited to partner with the management team and founders to continue building a world-class services and software business, helping asset owners, municipalities and contractors protect and manage critical infrastructure.”
Geomatikk holds a leading position in Norway, Sweden and Finland, as well as growing positions in Denmark and Spain. Together with Axcel, the company plans to further expand its footprint across the Nordics while also entering selected European markets.
Driven by long-term market trends
Geomatikk operates in markets supported by long-term trends, such as the energy transition, increasing digitalisation, rising infrastructure investments and stricter safety, quality and environmental requirements for excavation work.
“Geomatikk combines technology with deep operational expertise to safeguard critical infrastructure and improve data quality,” says Geir Hansen, CEO of Geomatikk. “With Axcel, we’re gaining a partner with strong experience within both software and services that can support us in our next phase of growth.”
Axcel is acquiring Geomatikk from Hg, a leading investor in European and transatlantic technology and services businesses. The transaction marks the 12th investment from Axcel VII and the firm’s fourth platform investment in Norway. Management as well as the Norwegian investment company KKA Invest will reinvest and remain shareholders alongside Axcel.
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.”