Houlihan Lokey Advises Next One Technology

Houlihan Lokey is pleased to announce that Next One Technology (Next), a portfolio company of Monterro and a leading provider of construction project management software, has been acquired by EQT, which is investing in Next together with Adelis. The transaction was completed on 14 February 2024.

Next, which is headquartered in Sweden and currently serves over 2,500 customers primarily throughout the Nordics, was acquired by Monterro in 2019. Since then, the platform has evolved into one of the most appreciated project management and ERP solutions in the industry. Next has expanded its product portfolio both organically and through complementary add-on acquisitions. It now offers a comprehensive, user-friendly solution that enables construction firms to manage all their projects and processes.

Monterro is the leading B2B software investor in the Nordics, with a mission to turn Nordic software companies into market leaders. Its team has successfully developed and led companies such as Pointsec, Episerver, Orc Software, Lime, and Outpost24. Monterro’s founders and employees provide an average of 25% of the fund’s capital and actively support its portfolio companies in all aspects of growth. Monterro is headquartered in Stockholm, with offices in Oslo, Munich, and Hanoi.

EQT is a purpose-driven global investment organization with €232 billion in total assets under management (€128 billion in fee-generating assets under management), within two business segments—Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific, and the Americas and supports them in achieving sustainable growth, operational excellence, and market leadership.

Houlihan Lokey acted as the exclusive financial advisor to Next and Monterro. The transaction highlights Houlihan Lokey’s leading global PropTech advisory practice and marks its second transaction within the Nordic construction software space in less than six months, following the acquisition of Infobric by Stirling Square, which closed in September 2023.