Livingbridge today announces its exit from construction, contracting and housebuilding software specialist Eque2.
Headquartered in Manchester, Eque2 supplies business management software to more than 1,400 customers in the construction, housebuilding and contracting industries.
Livingbridge invested in Eque2 in 2013, with the transaction led by the firm’s Manchester team. The investment supported the business as it further developed its range of construction specific products and in particular their Small Medium Business focused software which has seen significant growth.
The Eque2 management team has undertaken a management buy-out with backing from another private equity firm, to pursue the next phase in its growth strategy.
The buyout was led by executive chairman Richard Beaton. Beaton joined Eque2 in 2013 and has supported the growth of the business over the past four years.
Richard Beaton, executive chairman at Eque2, said: “We have achieved significant growth over the last four years, and have been able to considerably develop our range of products on offer. We’re very proud of what we have achieved with Livingbridge during the investment period, and look forward to our next steps as we further capitalise on opportunities to maintain our market-leading position.”
Bevan Duncan, investment director at Livingbridge, commented: “We are very proud of the great progress that Eque2 has made since our original investment in 2013. Over the past four years, we have supported Richard Beaton and the team through a rapid period of growth which has seen them expand their presence throughout the UK, develop a new range of construction specific products and increase their market share uniquely across the sector. We wish them all the very best for the future and look forward to watching their continued progress.”