Funds advised by Apax to acquire EcoOnline Holding

LONDON, UK: On 2 June 2022, the Apax X Fund, in which Apax Global Alpha Limited (AGA) is a limited partner, announced that it has reached an agreement with the Board of EcoOnline Holding AS, an Environment, Health and Safety (EHS) SaaS company listed on Euronext Growth (Ticker: ECO) to acquire the entire issued, and to be issued, share capital of the business.

The transaction is expected to close in the second half of 2022, subject to shareholder and regulatory approvals.

On a look-through basis and based on the offer price of NOK22.75 per EcoOnline share, AGA is expected to invest approximately €12.3m in the company.

Note that these figures relate to AGA’s look through position of Apax X’s overall investment in EcoOnline and are stated before taking into account any closing adjustments and are translated based on the latest exchange rates available where applicable.

Founded in 2000 and headquartered in Norway, EcoOnline is a European EHS SaaS market leader developing software for creating safer and sustainable workplaces while ensuring compliance and environmental sustainability. EcoOnline has a strong position in the Nordics, with growing presence in the UK, Ireland, and the US. The Company currently serves over 7,000 customers across almost all sectors.

Apax’s EHS software market experience ideally positions it to partner with EcoOnline to unlock its potential as a private company, working closely with Apax’s Operational Excellence Practice to drive both organic and inorganic growth.

AGA, whose shares are listed on the London Stock Exchange, provides investors with access to a diversified portfolio of private equity funds advised by Apax Partners as well as a focused portfolio of debt and equity investments (“Derived Investments”). In July 2019, AGA made a commitment of c.$450m to Apax X.

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