Nordhaven advised Viking Venture in the sale of Asolvi to Volpi Capital

6 sept 2019

Nordhaven Corporate Finance acted as exclusive financial advisor to Viking Venture in the sale of Asolvi to Volpi Capital. Asolvi is a European leader in field service management solutions, and Volpi Capital is a specialist European mid-market investor.

The investment will enable Asolvi to continue its expansion across Europe, with the company already having acquired five companies (Tesseract, WS Software, Purpose Software, Vantage Computing, and PC Data) since 2016. The Group is now poised for further growth outside of its core Nordic market and well capitalized to expand organically and through acquisitions across Benelux, Germany and the UK.


Asolvi is a leading provider of service management software for small and medium-sized enterprises (SMEs) in the field service industry in Europe, employing more than 100 staff in ten offices across Europe. The company was founded in 1991 as Evatic AS in Trondheim, Norway, and has grown organically and through recent acquisitions to reach 1,500+ customers in 30+ countries. It is headquartered in Trondheim, Norway, and is a private company owned by the founders, management, Viking Venture and Volpi Capital.


Volpi Capital is a specialist European lower mid-market private equity firm. Volpi has a thesis-driven approach targeting ambitious businesses using enabling technologies to disrupt traditional B2B value chains. Volpi typically invests €25-75 million of equity in businesses with enterprise values between €50 million and €200 million and seeks to drive transformative growth through international expansion and consolidation. The firm, which was founded in 2016 by Crevan O’Grady and Marco Sodi, closed its first fund (Volpi Capital Fund I) in April 2018 with commitments of €185 million.


Asolvi CEO Pål M. Rødseth comments, “We are very excited to have Volpi Capital on board, with their investment enabling us to focus on expansion and further acquisitions, particularly across the UK, Germany, and Benelux regions. The market remains very fragmented with a number of niche players,
but thanks to this investment we are in a prime position to bring some much-needed consolidation and become the leading provider of field service management systems for SMEs in Europe.”


Commenting on the transaction, Marco Sodi from Volpi Capital, said: “We are delighted to have the opportunity to work with Asolvi as they consolidate their market-leading position across Europe. The business perfectly aligns to our investment thesis of backing businesses harnessing technologies
to improve productivity and efficiency within B2B value chains. Having already expanded successfully into multiple geographies, we see great potential to further internationalize Asolvi into Benelux, Germany and the UK, and look forward to supporting management to strengthen the business’ geographic footprint.”


Partner in Viking Venture and Chairman at Asolvi, Jostein Vik comments: “As the leading Nordic software investor, we at Viking Venture have backed Asolvi´s growth through acquisitions in the  Nordics and UK. Together with Volpi Capital we will continue to support the company consolidating a fragmented software segment in Europe.”

Join our newsletter
Subscribe to our newsletter to receive the latest news from Nordhaven Corporate Finance.
  • Helsinki
  • Eteläranta 12
  • +35 8 207 613 910
  • Oslo
  • Hieronymus Heyerdahls gate 1
  • +47 901 07 708
  • Stockholm
  • Birger Jarlsgatan 14
  • +46 72 318 48 50
 
Contact LinkedinPrivacy Policy
Nordhaven
Website by Almedialt