Private equity firm EQT is exploring a potential sale of its stake in Thinkproject, a construction-focused software provider. The deal could value Thinkproject at up to €1.5 billion, or roughly $1.8 billion. EQT is working with Arma Partners to gauge buyer interest. This move comes as investors evaluate exit opportunities for scaled SaaS assets, despite a cooling deal environment.

EQT acquired Thinkproject in 2020 and has overseen its expansion. The company provides software for managing costs, contracts, assets, and workflows, serving over 3,000 customers. SaaS businesses are attractive due to recurring revenue and high customer retention. An exit would test the market's appetite for large European software assets, especially in the current economic climate.

This potential sale reflects ongoing interest in the SaaS sector, despite broader economic uncertainty. Private equity firms are always seeking to monetize investments, and Thinkproject's recurring revenue model is appealing. The outcome of this deal will provide insights into the current valuations and investor sentiment within the software industry.

The success of a Thinkproject sale could signal confidence in the construction tech market. Investors will be watching this deal closely, as it could influence future transactions in the SaaS space. The final valuation and the identity of the buyer will be key indicators of market health and investor appetite for this type of asset.