The all cash transaction valued EcoOnline at NOK 355m.
Viking Venture, which owned 64% of EcoOnline prior to the transaction, exited at 10 times the investment in 2.5 years and has reinvested parts of the proceeds in EcoOnline to facilitate further growth in the Nordics and to establish a leading position in Europe.
Summa will own 69% of the shares after the transaction while Viking Venture retains 23%. The remaining 8% is owned by management and employees.
EcoOnline provides SaaS based chemical management software that ensures compliance with European legislation across the safety data sheet chain, from producers to end-users and provides companies with chemical risk assessments and documents to conduct preventative measures.
The company has high recurring revenues from a large and diverse customer base comprising more than 4,000 customers in all relevant industries and public sectors in Norway, Sweden, Finland and Denmark.
EcoOnline has over 80 employees in headquarters in Tønsberg, Norway and offices in Sweden, Denmark and Finland.