Inflexion is pleased to announce it has supported the merger of Norway-based EcoOnline with the software division of Alcumus creating a new leader in environmental, health and safety (EHS) business technology.
The investment is the third for Inflexion in Norway following its take-private of Infront in 2021 and the acquisition of Nordic Trustee by Inflexion portfolio company Ocorian that same year.
Inflexion held a majority shareholding in technology-led risk management and compliance solutions specialist Alcumus between 2015 and 2022. During that time, Inflexion supported the business to complete six strategic acquisitions and expand internationally whilst scaling the platform and strengthening its ESG offering. In 2022 Inflexion sold its investment in Alcumus to funds advised by Apax and subsequently reinvested to continue to support the company’s growth journey.
EcoOnline is a Norway-based EHS SaaS market leader in Europe founded in 2000. The business develops software for creating safer and sustainable workplaces while ensuring compliance and environmental sustainability. In addition to its strong position in the Nordics, EcoOnline has a growing presence in the UK, Ireland, and the US.
EcoOnline is committed to becoming the global leader in middle-market EHS software. Adding the Alcumus technology, customers and team to that effort is a strategic step forward, making us an even stronger partner for customers around the world.
Chris Joseph, Executive Chairman, EcoOnline
As sustainability continues its climb up the business agenda, firms that can support companies on these journeys through EHS technology are increasingly important. We are excited to be partnering with EcoOnline alongside Apax to create a new leader in this crucial area.