Summa Equity and Goldman Sachs Merchant Banking Division have partnered to acquire a 66% stake in EcoOnline, enhancing its growth potential in workplace health and safety software.

Information on the Target

EcoOnline is a premier provider of workplace health and safety software, dedicated to mitigating the adverse impacts that chemicals can pose to humans and the environment. The company simplifies compliance with intricate regulations, ensuring that its clients can operate safely and responsibly. In the European Union, it is alarming that 53% of workplace fatalities are attributed to chemical exposure, with a significant number of organizations failing to adhere to chemical safety regulations. In the UK alone, the death toll from workplace chemical exposure is five times higher than the fatalities resulting from traffic accidents. A recent investigation by the Swedish Work Environment Authority found that non-compliance rates can reach as high as 81%. EcoOnline's offerings align with several UN Sustainable Development Goals (SDGs), particularly SDG #3 on good health and well-being, SDG #8 on decent work and economic growth, and SDG #12 on responsible consumption and production.

Industry Overview in the Target’s Specific Country

The health and safety software industry in Europe is experiencing rapid transformation, driven by increasing regulatory pressures and the growing emphasis on workplace safety. This transformation is underscored by a heightened awareness of the risks associated with chemical exposure, which necessitates robust compliance frameworks. With the growing complexity of regulations, companies are seeking innovative solutions to manage safety-related tasks efficiently. Furthermore, the aftermath of the COVID-19 pandemic has further amplified the need for safe and healthy work environments, pushing organizations to invest in advanced health and safety systems.

In the UK, the stringent regulations surrounding workplace safety have propelled demand for software that supports compliance and management of health, safety, and environmental (HSE) practices. The UK government’s proactive stance on workplace s