Summa Equity Fund II to sell its shares in EcoOnline to APAX Partners LLP

June 2nd, 2022, Stockholm: A company owned by funds advised by Apax Partners LLP (“Apax”), has reached an agreement with EcoOnline Holding AS (“EcoOnline”), the European EHS SaaS company listed on Euronext Growth (OSE ticker: ECO), to launch a recommended cash tender offer (the “Offer”) for all the issued and outstanding shares of EcoOnline. Summa Equity Fund II (“Summa”), through a wholly owned subsidiary, has signed a pre-acceptance undertaking to sell its shares in EcoOnline.

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Completion of the Offer will be subject to fulfilment or waiver by the Apax of customary completion conditions, including but not limited to shareholders representing more than 90% of the shares having accepted the Offer, relevant regulatory approvals being obtained and no material adverse change having occurred.

Since Summa first invested in EcoOnline, the company has evolved from a Nordic-based SaaS company to also expand to the UK and Ireland. Furthermore, EcoOnline has completed nine successful add-on acquisitions and launched a new Health, Security, and Environment (HSE) platform with several value-adding products in the pipeline. In 2021, EcoOnline was listed on the Euronext Growth in Oslo to accelerate and support further growth.

Partner in Summa, Christian Melby, commented:

“Following EcoOnline’s extraordinary growth and development over the last five years have been exciting. We strongly believe in the company, as robust megatrends and new regulations will continue to propel it forward. We are excited to observe the company’s development in the future with a strong owner in APAX Partners.”

EcoOnline contributes to good health and well-being (SDG #3) by facilitating a safer workplace by controlling and handling chemicals and incidents. Handling chemicals correctly also reduces the negative environmental impact of hazardous emissions (SDG #12). By combining high-end technology (like AI and machine learning) with the flexibility that lies in user-experience design, EcoOnline delivers a user-friendly tool tailored to fit every need in the market. EcoOnline has over 7,100 customers across the Nordics, UK, and the US through a diversified range of industries.

About EcoOnline

EcoOnline is a European EHS SaaS market leader dedicated to developing software creating safer and sustainable workplaces while ensuring compliance and environmental sustainability. EcoOnline has offered a positive contribution to customers and society since its inception and is a leader in the Nordics, UK, and Ireland with customers also in the US and many other countries. The company has a clear history of successfully acquiring and integrating companies with same level of employee engagement as EcoOnline.

About Summa Equity

Summa invests in companies that are solving global challenges and creating positive Environmental, Social, and Governance (ESG) outcomes for society.

Summa’s purpose is to co-create win-win for investors, portfolio companies, and society through aligning its vision and outcomes to the Sustainable Development Goals, ensuring a net-positive impact against ESG challenges, and the potential for long-term, sustainable outperformance.

Investments are focused on industries and companies that have tailwind from megatrends within three sustainability themes: Resource Efficiency, Changing Demographics, and Tech-Enabled Transformation. Across these themes, Summa’s portfolio companies are supporting a world in transition and showing that business can be part of the solution. Summa Equity has c. EUR 4 billion (c. SEK 40 billion) assets under management.

For interviews or more information, please contact:

Hannah Gunvor Jacobsen, COO and Head of IR at Summa Equity
+47 936 41 960 |


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