Arma Partners advises EcoOnline, a leading provider of workplace health and safety software, on the investment by Goldman Sachs Merchant Banking Division and Summa Equity 
- EcoOnline is a leading provider of workplace safety software which focuses on reducing the negative impact chemicals can have on humans and the environment, enabling its customers to easily comply with complex regulations
- Founded and headquartered in Oslo, EcoOnline serves over 6,000 customers and employs over 230 employees in Norway, Sweden, Denmark, Finland, UK and Ireland
- EcoOnline is experiencing rapid growth and increased demand for its services in all markets
- Goldman Sachs Merchant Banking Division, the primary center for Goldman Sachs Group’s long-term principal investing activity, is one of the leading private capital investors in the world with investments across private equity, infrastructure, private debt, growth equity and real estate
- Founded in 2016, Summa Equity is a Nordic private equity firm investing in companies within resource efficiency, changing demographics and tech-enabled businesses primarily in the Nordics. The firm has €1.4bn in AUM and is amongst the first private equity firms to commit to the UN sustainable development goals and its investments are aligned with these
- Goldman Sachs Merchant Banking Division and Summa Equity Fund II have each acquired 33% ownership of EcoOnline from selling shareholders, which include Summa Equity Fund I and Viking Venture, who will both continue to retain a portion of their investment in the company
- The investment case is underpinned by the following thesis:
- Attractive underlying market with increasing drive towards safer and more sustainable workplaces
- Continued growth and market share gains in current markets
- Accelerated internationalisation of the business, both organically and through M&A
- Goldman Sachs will contribute by financial resources and expertise to support EcoOnline in its vision of becoming the clear European leader within chemical management and occupational safety solutions
- Arma acted as exclusive financial advisor to EcoOnline and the selling shareholders in securing a successful investment by Goldman Sachs and Summa Equity Fund II
- Arma supported EcoOnline and the selling shareholders on a variety of activities including the strategic positioning of the business, buyer access, preparation of a detailed financial model and marketing materials, coordination of the sale and associated diligence process, Board advice and negotiation of the key transaction terms
- The transaction underscores Arma’s unique ability to support high-growth SaaS businesses in their strategic ambitions and adds to our consistent track record of successfully executing co-investment transactions