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03/2026

GEOMATIKK acquired by AXCEL

NORWAY Software / Industry-Specific Software EV £300–700M

Context

Axcel has reached a definitive agreement to acquire Geomatikk Group from Hg, a maneuver designed to fundamentally accelerate the group’s pan-European expansion strategy. The strategic rationale for this transaction centers on a "platform-scaling" play, merging the target's industry-leading technical operational depth in infrastructure protection with the acquirer's extensive Nordic network and track record in professional services. This fusion effectively provides the organization with the institutional capital and strategic backing required to pursue a definitive structural expansion into new European territories. Following a period of intensive digital transformation under previous ownership, the organization has evolved into a high-performance software and services platform. By incorporating the sponsor's strategic discipline, the group is now positioned to leverage AI-driven automation to address the increasing complexity of global utility management. The maneuver optimizes the group's financial flexibility, enabling it to pursue further bolt-on acquisitions and reinforce its technological leadership.

It is worth noting that the fund Hg Capital took control of Geomatikk through an LBO in 2020.

GEOMATIKK, which reported an EBITDA margin of [members only] in 2025, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, representing a discount to the average currently observed in the TMT (Tech, Media, Telecom) sector (14.6x).

-> Deep-dive in TMT (Tech, Media, Telecom) market trends

Target

Geomatikk Group operates as a premier technology-enabled organization dedicated to the engineering and distribution of infrastructure protection and management solutions. The entity’s business model is centered on a proprietary digital framework that integrates advanced detection services with specialized software to mitigate the risk of accidental damage to underground utility networks, including power, fiber, and water systems. Its value proposition is anchored in technical operational depth, providing a mission-critical platform that connects asset owners, municipalities, and contractors through data-driven insights and AI-powered automation. Strategically, the firm focuses on the deployment of industrialized safety standards to ensure the undisrupted access of essential societal functions during excavation and construction activities. By maintaining a specialized focus on technical reliability and real-time network mapping, the organization facilitates the structural advancement of utility management standards across Northern Europe. The group prioritizes long-term value creation through the convergence of field expertise and high-performance digital infrastructure.

Ent. Value

£300–700M

Equity Value

[members only]

Multiples

EV / Revenue

2x–6x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (GBP)

Year
Rev
EBITDA
EBIT
2025
£50–100M
£10–30M
[members only]
2024
£50–100M
£10–30M
[members only]

Other operations with GEOMATIKK

Other operations with GEOMATIKK

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
12/2020HG CAPITALGEOMATIKKNORWAYIndustry-Specific Software

REFERENCES

Valuation range: EV £300–700M

Revenue range: £50–100M

EBITDA range: £10–30M

EV/Revenue range: 2x - 6x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of GEOMATIKK by AXCEL are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Acquirer: axcel