Monterro sells construction software company Next after seeing an increase a 5x increase in ARR.

Press release - 20 December 2023 09:05

Monterro sells construction software company Next after seeing a 5x increase in ARR.

Monterro, the leading Nordic B2B software growth investor, has signed an agreement to sell SaaS company Next One Technology to EQT, which is investing in Next together with Adelis. Next, a leading construction software vendor, has grown significantly in the 5-year tenure, primarily within the Nordics.

Next One Technology 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. Next’s organization has during the period grown from 25 to 130 employees.

“Next has experienced fantastic growth, and it has been a real pleasure working with the entire team,” says Gustav Lagercrantz, CEO of Monterro and former Chairman of the Board at Next. “Together, we have step by step developed the company into a market leader in its niche. We've built a comprehensive solution that enables construction firms to streamline and digitalize their process from planning to invoicing. We have also successfully expanded Next into the U.K. and Norway, and established a scalable go-to-market model for further international growth. Impressively, the company has managed to quintuple its Annual Recurring Revenue (ARR). The result is a business poised for long-term, profitable growth. We are extremely proud of what we have achieved together with Next's management team and are excited to following its continued journey.” he adds.

"The team at Monterro has supported us in a tremendous way on our journey,” says Johan Jarskog, CEO of Next. “Their expertise and experience in scaling up software businesses has been invaluable. Now we have a solid foundation enabling us to continue building an even better solution for the entire industry. We are well prepared to take the next step in our expansion.” he continues.

Houlihan Lokey served as financial advisor and Setterwalls as legal advisor.

About Next One Technology

Next One Technology is a leading provider of business and project management systems tailored for construction firms. Next has 2,500+ customers and SEK 200+ million of revenues. Next integrates all aspects of construction management into a unified platform that provides real time control of projects from early stages to finish. Next has 130+ employees and serves customers throughout the Nordics and UK. https://www.next-tech.com

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Contacts

Gustav Lagercrantz

Press contact CEO of Monterro At Monterro, Gustav is Chairman of the Board of Matilda Foodtech, Next, TimeEdit, and PLAYipp. He is a board member at Umbraco. gustav.lagercrantz@monterro.com +46 70 734 74 11

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