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Summa Equity acquires 69% of EcoOnline’s shares

  The investment will be made through the acquisition of shares from existing shareholders and a rights issue of NOK 22m. After the transaction, Summa will own 69% of the shares while Viking Venture retains 23%. The remaining 8% is owned by management and employees. Partner in Summa Equity, Christian Melby, has already managed to become familiar with EcoOnline and its customers’ challenges. «Nearly all sectors use chemicals and are thereby required to comply with universal legislation and ensure health and safety for employees. Many companies are not adequately and safely managing their chemicals today and we believe EcoOnline’s purpose-built software helps solve this problem. EcoOnline is the best software solution on the Nordic market and we are impressed with the management team and their ability to develop and grow this business. We will continue to expand in the Nordics as well as selected other geographical markets,» says Melby.   Unique platform Since inception, EcoOnline has developed into a state of the art SaaS provider with high recurring revenues from a large and diverse customer base comprising more than 4,000 customers in all relevant industries and public sectors in Norway, Sweden, Finland and Denmark. EcoOnline’s platform ensures compliance against European legislation across the safety data sheet chain, from producers to end-users, offering strong benefits for customers in both ends of the spectrum. EcoOnline’s software solution also provides companies with chemical risk assessments and documents to conduct preventative measures.   A global tailwind EcoOnline is expected to benefit from global tailwinds such as increasing regulatory requirements for chemical management and rise in environmentally focused companies. Øyvind Robert Thorsen, CEO of EcoOnline, believes the time has come to expand to the European market. «Thanks to Summa Equity’s and Viking Venture´s funding and commitment to EcoOnline, we can continue with our growth strategy and bring our services to a market which holds large potential for software adoption. Our goal is to become the European health, safety and environment thought leader, and help companies understand their chemical exposure and how to reduce harmful substances», says Thorsen. EcoOnline has 85 employees and is headquartered in Tønsberg, Norway, with offices in Sweden, Denmark and Finland. EcoOnline is in an expansive growth phase and saw revenues grow 30% to NOK 88m in 2016.   About Summa Equity Summa Equity was formed in 2016 by partners with a shared vision of building a leading specialised private equity firm in the Nordic lower mid-market, positioned to capture the investment opportunity provided by the thematic megatrends expected to drive growth over the long term. The firm focuses on sectors related to four megatrend-driven themes: resource scarcity, energy efficiency, changing demographics and tech-enabled businesses. Summa Equity closed its first fund in February 2017 with commitments of SEK 4.5 billion   About Viking Venture Viking Venture is a leading Nordic venture fund focused on B2B software companies with a recurring revenue business model. Viking Venture has invested in more than 40 companies and has more than 1.7 billion NOK under management. The company is located in Trondheim, Norway and London. More information on www.vikingventure.com.
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EcoOnline extends service offering with 3T

EcoOnline extends service offering by acquiring HSEQ software and consulting company, 3T Results Ltd.   EcoOnline, a specialist in chemical documentation management software and services, has acquired Finnish based occupational safety and Health software and consulting company 3T Results Ltd.   With this acquisition, EcoOnline will be able to provide customers service and software solutions covering chemical safety management, as well as occupational health, quality and environmental management. «For our Finnish customers the acquisition enables a wide range of HSEQ services as a complete solution, including the software solutions, expert services and training. By combining the forces of two leading industry players, we will serve Finnish chemical users, manufacturers and suppliers more effectively”, says CEO of EcoOnline Group Øyvind Thorsen. «Our HSEQ Online cloud service users have been interested in better management of Safety Data Sheets and overall management of chemical safety. In our discussions with EcoOnline we realized quickly that joining forces would bring customers of both parties the most value. Together we can also serve better our international customers and speed up our expansion into new markets”, says CEO of 3T Results Ltd Marko Vuorinen.   More information: Øyvind Robert Thorsen, CEO, EcoOnline Group, Mob: +47 90824055, Email:[email protected]   Marko Vuorinen, CEO, 3T Ratkaisut Oy, Mob: +358 40 517 7675 Email: [email protected]   3T Results Ltd helps you to work effectively in managing your workplace safety, working conditions and productivity. 3T’s solutions combine the validated methods and procedures with modern technology. HSEQ Online Cloud Service can ensure compliance with statutory obligations and management systems. In addition, the company provides training for employees by more than 100 digital educational material libraries, supervisor training and company specific expert services. In 2016, turnover was €1.2 m with 14 employees.   EcoOnline is the leading Nordic IT firm dedicated to developing software to make management and documentation of chemicals as user-friendly and cost-efficient as possible. Producers, resellers and distributors of chemicals are linked up with those who manage chemicals in a single common database. The database enables the sharing of legally required data on hazardous properties, and the recommended precautionary measures to be adopted when using chemicals and chemical products. In 2016, turnover of EcoOnline Group was €9.1 m with almost 100 employees.
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Göran Lindö – ny CEO i EcoOnline

Göran Lindö er ansatt som ny CEO i EcoOnline. Lindö kommer fra stillingen som VP SMB & B2C i Dustin Group. Han tar over fra Øyvind Robert Thorsen 1. mai 2018.   Göran Lindö er ansatt som ny CEO i EcoOnline. Lindö kommer fra stillingen som VP SMB & B2C i Dustin Group. Han tar over fra Øyvind Robert Thorsen, som har ledet selskapet til å bli Nordens største leverandør av digitale løsninger for kjemikaliedokumentasjon. – Etter en grundig ansettelsesprosess er styret og hovedeierne Summa Equity og Viking Venture svært fornøyd med at Göran Lindö har takket ja til stillingen. Vi er overbevist om at Göran med sin brede ledererfaring og engasjement er den rette til å videreføre det som EcoOnline har bygget opp under Øyvinds utmerkede lederskap, sier Kent Zehetner, styreleder i EcoOnline. – EcoOnline har et attraktivt tilbud og forretningsmodell, samt sterk intern kompetanse og kultur som har gitt selskapet en ledende posisjon i Norden. Sikker håndtering av kjemikalier er ikke bare viktig fordi kundene må overholde europeisk lovgivning men EcoOnline bidrar også med en klar verdi for å sikre en attraktiv og trygg arbeidsplass for alle ansatte. Med det har EcoOnline gode muligheter til å vokse raskt i det spennende og voksende feltet rundt miljø, helse og sikkerhet. Derfor gleder jeg meg virkelig til å fortsette å utvikle EcoOnline og bringe selskapet til nye høyder, sier Göran Lindö. – Summa Equity og Viking Venture ønsker å takke Øyvind for den enestående jobben han har gjort og vi er svært fornøyd med at han fortsetter i selskapet som VP New Customers og som aksjonær, sier Christian Melby, partner i Summa Equity. Om Summa Equity Summa Equity ble etablert i 2016 av partnere med en felles visjon om å bygge opp ett ledende spesialisert private equity selskap i det nordiske SMB-markedet. Selskapet skal finne investeringsmuligheter innenfor ulike megatrender som forventes å gi langsiktig vest. Selskapet fokuserer på sektorer innenfor fire megatrenddrevne områder: ressursknapphet, effektiv energiutnyttelse, demografiske endringer og teknologidrevne virksomheter. Summa Equity stengte sitt første fond i februar 2017 med investeringsforpliktelser på 4,5 milliarder svenske kroner. Om Viking Venture Viking Venture er et ledende nordisk venturefond som fokuserer på B2B programvareselskaper som baserer sin forretningsmodell på regelmessige inntekter. Viking Venture har investert i mer enn 40 bedrifter og har over 1,7 milliarder kroner under forvaltning. Selskapet har kontorer i Trondheim og London. Mer informasjon på www.vikingventure.com.
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EcoOnlines stoffkartotek digitaliserer byggenæringen

Etter to års utvikling i tett samarbeid med ulike entreprenører og innholdsleverandørene Logiq og EcoOnline, lanserer Norsk Byggtjeneste ProsjektDok – en digital tjeneste som gir entreprenøren full kontroll på all produktdokumentasjon gjennom hele byggeprosessen.   Et verktøy for både ledelse og saksbehandling   – Målet er å gjøre ProsjektDok til et markedsledende produkt for digitalisering av hele verdikjeden. Ved å dra nytte av flere databaser, som for eksempel digitalt stoffkartotek, bidrar verktøyet til mer kvalitet og effektivisering, sier Halvard Gavelstad, CEO Norsk Byggtjeneste. Det stilles strenge lovkrav til å dokumentere egenskapene til de produktene som brukes i et byggeprosjekt. I tillegg er sertifisering i henhold til BREEAM-NOR standarden blitt en viktig indikator for alle seriøse aktører i bransjen. Kravet til dokumentasjon er med andre ord enormt. – Takket være vår partner EcoOnline, inkluderer ProsjektDok et detaljert, lovpålagt stoffkartotek som gir varslinger om prosjektets kjemikalier på en oversiktlig måte. Stoffkartoteket oppdateres i sanntid og verktøyet gir beskjed om behov for risikovurdering eller dersom det skulle være produkter som ikke er godkjent i henhold til lovkrav eller markedskrav. På den måten kan du reagere dersom det dukker opp produkter som ikke tilhører prosjektets miljøprofil, forklarer Rupert Hanna, CDO Norsk Byggtjeneste.   Økt bærekraft   Ved å samle alle handelstransaksjoner fra grossist/kjeder og direkte handel mellom produsent og entreprenør ligger det mange muligheter i å planlegge og overvåke alle innkjøp. På den måten innebærer ProsjektDok potensielt store besparelser for entreprenører og deres underleverandører. For EcoOnline har prosjektet vært svært motiverende fordi hele verdikjeden nå kan foreta flere bærekraftige valg i byggeprosessen. – Vi er der for å tilgjengeliggjøring nødvendig informasjon for at en entreprenør eller byggherre skal kunne planlegge prosjektet sitt med tanke på konsekvensene for helse og miljø, avslutter prosjektleder hos EcoOnline, Sofie Sarre Ramstad.
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Norwegian Air Shuttle ASA: Standardising emergency situations in the airline sector

Susanna Halonen-Manner, Senior Vice President Emergency Response of Norwegian, says that the most important thing is the cooperation of airlines and the introduction of best practices in companies. “This is one area where airlines do not compete, but we learn from each other. To a great extent, we standardize security methods together. We are a learning organization, we learn from each other’s best practices, but also about mistakes, “says Halonen-Manner. Halonen-Manner started as Norway’s Senior Vice President at the end of last year. Her job is to standardize the management and communication processes in the company. She also has a dialogue with other airlines. It is not a new phenomenon, as already in 1944 the States decided on the so-called Chicago Agreement on harmonization of air traffic. Last year, Halonen-Manner was elected to Washington’s Aviation Emergency Response as the only European airline representative. Previously, she served as chairman of the Star Alliance Emergency Response Group, which includes 28 airlines. The strong safety culture of airlines means strengthening the “safety first” thinking of both flying personnel, ground personnel and technicians. “We standardize management models, and when we build such models, we will rather build systemic capital, rather than individual performance. For example, anyone in the leadership role will lead in the same way, “Halonen-Manner says. The more standardized the organization of exceptional situations, the less uncertain. “Each party in the group knows what to expect. The process is so seamless that it does not have any surprises. Thinking can be used for the event itself. “ In standardizing management and communication, the introduction of new technology is important for airlines. Norwegian uses the EcoOnline Crisis Management application, which includes teamwork and standardized communication models. When a person sees the message, she knows immediately what the question is. You can also open a conference call through the  EcoOnline application. Norwegian, like other airlines, has regular exercises for exceptional situations. “We have small exercises monthly, and three times a year a bigger exercise involving about 700 people. Here we evaluate the results of the exercises and improve the organization all the time. “ The organization of emergency situations includes people-centred support personnel, communications personnel, unit management and a department that manages partnerships, such as contacts with insurance companies. The number of passengers in air traffic has doubled to nearly five billion annually in ten years. In addition, they are projected to increase to more than seven billion annual passengers by the year 2035. 2017 was the safest year in commercial air traffic history. Last year, only ten death-fatal aviation accidents occurred, killing 44 people. Also in her previous job at SAS Halonen-Manner led to exceptional circumstances. During her long career, she has also served as a leader in disaster situations, but she can not speak more about it because of privacy. What is Susanna Halonen-Manner’s Guide to flying to the fearful one? “It is worthwhile to seek information. There is a lot of literature nowadays. The other thing is that she tells her fear of the crew before he leaves, so she gets support. “ Source: Interview of Susanna Halonen-Manner, VP Emergency Response in Norwegian Airlines with the Finnish business newspaper Kauppalehti.
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