London based Volpi Capital has acquired Viking Venture portfolio company Asolvi. Viking Venture reinvests NOK 100 million and stays on as a minority investor in Asolvi.
– We are looking at a solid return for our funds, the founder, and the employees, says Erik Hagen, Managing Partner of Viking Venture.
Asolvi is headquartered in Trondheim, Norway, but with the majority of its 110 employees outside of Norway. The company was established in 1991 and has seen rapid growth during Viking Venture´s ownership becoming the leading field service management software company for Small and Mediumsized Enterprises (SMEs) in Europe.
– Asolvi has acquired five companies during the last years. We welcome Volpi´s entry to further consolidate the European market, says Jostein Vik, Chairman of the Board of Asolvi and Partner at Viking Venture.
Asolvi has more than 1500 customers in 30 countries and focuses on service management software. The company has grown to revenues of NOK 140 million in 2019.
CEO Pål Rødseth (picture) and the Asolvi team are looking forward to continue the rapid growth of Asolvi together with Volpi Capital and Viking Venture.
Read the full press release on Asolvi.com.