Extensive development work is underway in the construction industry to increase the industry’s attractiveness in the labor market, through, among other things, more efficient working methods and initiatives to create a safer work environment. Technology to measure, monitor, and improve safety and security is going to be a key enabler of a change towards a more efficient industry. Infobric has experienced strong demand growth for their proprietary software platform (SaaS) and IoT products for attendance systems and access control. . Digitalization of the construction industry is further strengthening the growth outlook. These trends will drive growth for Infobric by its contribution to tech-enabled safety, compliance and energy/asset efficiency in an industry that is fundamental for economic development. All aligned with Summa Equity’s Technology-enabled Businesses theme and the UN SDG Targets #8.8 “Protect labour rights and promote safe and secure working environments for all workers”, and #16.6: “Develop effective, accountable and transparent institutions at all levels”.
– Through Infobric we will contribute to efficiency improvements as well as improved workplace safety in the construction industry. We are impressed by the profitable growth the Infobric team has achieved to date and we are looking forward to support the company’s growth and development in the coming years, says Christian Melby, Partner at Summa Equity.
Summa Equity was founded in 2016 and closed its first private equity fund in February 2017 with commitments of SEK 4.7 billion to focus on investments in the Nordic SME market. The company invests in sectors associated with three megatrend-driven themes: Resource Efficiency, Changing Demographics and Technology-enabled Businesses, and has built a portfolio of companies that contribute to positive development of the UN Sustainable Development Goals within areas such as health, education, agriculture, water and sanitation and technology. Through the acquisition, Summa Equity will become majority owner of Infobric. Management shareholders will remain as significant shareholders in the company.
– With Summa Equity as our new majority owner, Infobric enters a new and exciting phase. Summa’s commitment to creating a sustainable society and contribute to solving social and environmental challenges through innovative technology is closely aligned with Infobrics’ values and business focus. Summa will also play an important role in Infobric’s journey towards becoming the leading digitalization partner for the construction industry, says Dan Friberg, CEO at Infobric.