Bowmark Capital invests in Eque2

Eque2 provides mission-critical, cloud-based, business management software solutions to approximately 3,000 customers in the UK construction sector, enabling them to manage their core workflows, improve productivity and increase margins.

The company is growing recurring revenues at over 30% per annum, driven by the ongoing adoption of digital technology in the construction industry, coupled with the demonstrable revenue enhancement and cost savings that Eque2’s specialist software delivers for its clients.

Bowmark has a long track record of investment in market-leading, vertically specialised software businesses, and its partnership with Eque2 will help the company continue its strong record of growth, through further investment in technology, new product development and client service.

Bowmark is acquiring its interest from WestBridge, which has worked closely with Eque2 over the last three years as the company has integrated its suite of products, transitioned them to SaaS, and expanded its senior management team. WestBridge is also re-investing in the transaction.

Justin Moule, CEO of Eque2, said: “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. We have experienced transformational growth since forming our partnership with WestBridge in 2020 and are looking forward to the next phase of our journey working with the Bowmark team, alongside the on-going support of WestBridge, and continuing to help construction companies introduce modern digital technology to drive the future success of their business.”

Bowmark partner, Simon Kaufman, commented: “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.”

Peter Barkley, partner at WestBridge, said: “It has been a pleasure to work with Justin and his team over the last three years through a period of transformational change. With our support, the team has made significant strides in developing its technology offering, enhancing its ESG footprint and broadening its leadership team. We are delighted to partner with Bowmark to support the next phase of the company’s growth.”