OSLO: EcoOnline, a leading provider of EHSQ software, has today been admitted to trading on Euronext Growth Oslo.
For more than 20 years, EcoOnline has developed innovative solutions helping businesses in all industries and sizes to create safer, more sustainable, and more efficient workplaces. Today EcoOnline has a leading position in all the Nordic countries and the UK and Ireland, offering its industry-agnostic solutions to more than 6,500 customers, representing 86 industries.
“The listing on Euronext Growth Oslo is marking an exciting new step forward in our journey securing an even stronger platform for growth. We are pleased to see that leading institutional investors share our belief in the value of providing solutions for safer workplaces and a better environment. We would also like to thank all our passionate and purpose-driven employees, whose hard work and dedication have got us to this point. I am confident that EcoOnline is extremely well-positioned for future growth,” said Göran Lindö, CEO of EcoOnline.
The offering was successfully completed with a total transaction size of NOK 1,84 billion, where the primary offering raised gross proceeds of NOK 500 million. EcoOnline is valued at NOK 4,1 billion on the day of listing.
At the end of 2020, EcoOnline had more than 370 employees in seven countries. The company’s Pro-forma recognised revenue was NOK 334 million in 2020. It reported NOK 348 million in annualized recurring revenues at the end of January 2021, includes the acquisition of Engage EHS.
“EcoOnline has made significant progress in the market and established itself as a leading and successful provider of EHSQ software and systems. We have identified a significant potential for further growth, which we seek to accelerate with additional funding, and we look forward to inviting new investors to join us on this journey,” said Gunnar Evensen, Chairman of the Board of Directors of EcoOnline.
The Environmental, Health, Safety, and Quality (EHSQ) market is an attractive industry with solid tailwinds, and EcoOnline has identified significant potential for further growth, supported by macro drivers, such as digitalization and increased focus on sustainability and ESG, but also new and emerging risks and regulatory requirements and production standards.
EcoOnline’s passion for creating innovative technology meets the growing demand for EHSQ software to include capabilities, such as Environmental, social and governance, sustainability risk management, and operational risk management as well as more stringent regulations and data management and analytical tools.
To help businesses effectively spot risk, corrective actions, and protect employees, contractors, customers, and the public, EcoOnline has developed an EHSQ software that allows the customers to drill down into the root cause of the incidents, risks, or emissions.
The listing will support EcoOnline’s strategy and growth plans, including increasing market share through strategic acquisitions. Further, as a listed company, this will strengthen its overall market awareness for both clients and industry partners and improve its ability to attract, retain and motivate talented personnel.
Pareto Securities, ABG Sundal Collier, and SpareBank1 Markets acted as leading financial advisors in the process.
EcoOnline is a European EHSQ SaaS market leader dedicated to developing software creating safer & sustainable workplaces while ensuring compliance and environmental sustainability.
EcoOnline has offered a positive contribution to customers and society since its inception and is a chemical management leader in the Nordics, UK and Ireland. The company has a clear history of successfully acquiring and integrating companies with same level of employee engagement as EcoOnline.