Accel-KKR: Seequent's Transformation from Niche Player to Market Leader

Seequent provides software for geoscience analysis and modeling. Through its partnership with Accel-KKR, the company grew in three years from a niche player to a global technology leader with a customer base in more than 100 countries.

Seequent specializes in developing modeling software that transforms complex geological data into 3D subsurface models. Its technologies have found utility in diverse large-scale projects, from rail tunnel construction to sub-sea infrastructure mapping and geothermal exploration. Stakeholders use the geological understanding provided by Seequent’s solutions to make critical time-sensitive investment and environmental decisions.

Accel-KKR first recognized Seequent’s potential in 2014 and made a majority investment in 2018. During their three-year collaboration, the company achieved several significant milestones:

• Within the initial 100 days of investment, Seequent acquired Geosoft, expanding its geological modeling suite to include subsurface geophysics and data technology.
• In October 2019, Seequent acquired Geoslope, a leading geotechnical software company. This strategic move enhanced engineering and design workflows.
• During Accel-KKR’s holding period, Seequent witnessed financial growth, with revenue surging more than threefold and EBITDA increasing 15 times.

The partnership culminated in the successful sale of the company to Bentley Systems (NASDAQ: BSY) in 2021. Accel-KKR's work with Seequent has earned the firm several accolades, including the “International Deal of the Year" award by Buyouts magazine in 2022.