Arma Partners is pleased to announce that it has acted as exclusive financial adviser to e-conomic International a/s, an HgCapital portfolio company, on the sale of its core Nordic business, including a majority interest in Swedish based SpeedLedger, to Visma AS.

e-conomic, founded in 2001 in Copenhagen and acquired by private equity investor HgCapital in 2013, is Europe’s leading Software as a Service (‘SaaS’) accounting and SME solutions provider with over 100,000 customers for its core product ‘e-conomic’ and over 320,000 users for its invoicing and accounting light solution, ‘Debitoor’. The company will retain Debitoor and e-conomic’s international business.

Visma is the leading provider of business management software and services in the Nordic region. It generated revenues of NOK 7.1bn and EBITDA of NOK 1.5bn for the year ended 31 December 2014.

This transaction demonstrates Arma Partners’ continued strength in Software and SaaS M&A and our transaction expertise in the Nordic region.