Viking Venture portfolio company EcoOnline, a leading provider of SaaS-based Chemical, Environmental, Health and Safety management software acquires Engage EHS, an Irish based provider of innovative and easy to use health and safety software.
Established in 2000, EcoOnline has expanded from being a well-established name for chemical management software in the Nordic region to also delivering comprehensive EHS solutions to the European and the US markets. Today EcoOnline has a leading position in all the Nordic countries and the UK and Ireland, offering their industry-agnostic solutions to more than 6,500 customers, representing 86 industries.
With the acquisition of Engage EHS, EcoOnline secures further growth by welcoming more than 150 customers and 30 skilled employees who share EcoOnline’s vision of helping businesses in all industries and sizes to create safer, more sustainable and more efficient workplaces
– We have known the team behind Engage EHS for a long time and found that we are a true match, both in terms of culture and shared vision for our company, customers and product. The Engage EHS team and product knowledge will be instrumental when we together continue to serve all our customers and develop our leading EHS platform, says Göran Lindö, CEO at EcoOnline.
Engage EHS, headquartered in Dublin, provides its multi-country cloud-based platform to more than 150 companies and is known for simplicity and ease of use, focusing heavily on engaging everybody in improving health and safety at its customers’ workplaces.
Darragh Geoghegan, Engage EHS CEO believes that the cultural fit and common view of how to create more EHS impact in more workplaces will result in better products and services for all customers:
– We are very excited for our customers and the Engage team as we join forces with EcoOnline. Our goal with Engage EHS from day one was to deliver the technology tools to help our customers transform how they manage, and how their employees engage with safety. Having taken time to get to know both the company and the management team, we know there is a great cultural fit. We truly believe that as part of EcoOnline, we can deliver more value and opportunity for all our customers, present and future, says Geoghegan.
Strategically important investment
During the Covid-19 pandemic EcoOnline experienced all-time high sales due to the increased focus on the importance of workplace safety. There is an accelerated adoption of new EHS technologies in the market and to ensure continuous development of best-in-class digital EHS products and services, EcoOnline is focused on adding passionate and competent colleagues to its team.
– The acquisition of Engage EHS is an important step for EcoOnline to continue strengthen its team, product and customer portfolio. I have met the Engage EHS management team and know that they and their teams will bring a lot of value to the EcoOnline Group. We are impressed with what they have done with their product and the last couple of years and how highly they are regarded among their customers. We are delighted that we now join forces, says Christian Melby, CIO and partner at Summa Equity.
Since the start of 2018, EcoOnline has grown rapidly by tripling both the team and the annual recurring revenue base. To support EcoOnline´s journey in becoming the leading provider of EHS and chemical management software in Europe and the US, EcoOnline secured new capital from Summa Equity’s Fund II and Goldman Sachs Merchant Banking Division in April 2020. Engage EHS is the second acquisition since Goldman Sachs Merchant Banking Division joined the ownership team.
– We are excited to see EcoOnline further strengthen its position in the key UK and Ireland markets, as well as to bring onboard a talented team of individuals, with the acquisition of Engage EHS. We look forward to continuing to support EcoOnline during its next phase of growth, says Michael Bruun, Goldman Sachs Merchant Banking Division.
Viking Venture invested in EcoOnline in 2014 and has been part of its growth journey into an international market the last seven years.
– The acquisition of Engage EHS is a great add-on for EcoOnline in terms of product synergies, new customers and skilled employees to further strengthen EcoOnline’s offering. We welcome the Engage EHS team and are excited to see EcoOnline gaining a stronger foothold in the international market, says Jostein Vik, board member of EcoOnline and Partner at Viking Venture
EcoOnline is a leading supplier of EHS software, making workplace safety tasks and compliance for companies user-friendly and cost-efficient. The company was founded in 2000 and has more than 6,500 customers and over 300 employees in Norway, Sweden, Denmark, Finland, UK and Ireland. EcoOnline is experiencing rapid growth and increased demand for its services in all markets.