Bowmark Capital has acquired a stake in Eque2 in a transaction that provides a partial exit for WestBridge.
Bowmark Capital has backed Eque2 alongside returning investor WestBridge to support further product development and growth.
Eque2 provides specialist enterprise resource planning software to approximately 3,000 customers in the construction sector. The business is growing recurring revenues at over 30 percent per annum.
Bowmark Capital has acquired a stake in Eque2, providing a partial exit for WestBridge. WestBridge originally invested in the company in 2020 and is participating in the transaction by reinvesting.
The capital from Bowmark will be directed towards further technology investments, new product development and client service enhancements. Eque2 has previously expanded its senior management team and transitioned its product suite to SaaS under WestBridge's tenure.
The transaction brings together new and existing private equity backers to support Eque2 in addressing the growing demand for digital solutions within the construction market.
From the founder
"Bowmark are the perfect partners for the next phase of our journey as we look to invest even more in product development and customer support."
Justin Moule
CEO at Eque2
Investor perspective
"Eque2 has built an enviable position in construction ERP software where there is a large addressable market and accelerating demand for digital solutions. Having known the business and its management for many years, we are delighted to have the opportunity to back Justin and his team, and to partner with WestBridge, to support the business in its next stage of growth."
Simon Kaufman
Partner, Bowmark Capital
Use of funds
- 01Continue product development
- 02Build out infrastructure
