Will EcoOnline’s Public Listing On Euronext Growth Oslo Signal A Coming Trend Of EHS Software IPO’s?

  • Blog
  • Environment, Health & Safety

Will EcoOnline’s Public Listing On Euronext Growth Oslo Signal A Coming Trend Of EHS Software IPO’s?

On March 24th, EHS and chemical management software vendor EcoOnline was admitted to the Euronext Growth Oslo stock exchange. The offering was completed with a total transaction size of $215 million, where the primary offering raised gross proceeds of $58 million. At the day of the listing EcoOnline was valued at $477 million. This listing comes at the tail end of an eventful 18 months in which EcoOnline acquired EHS software vendors Airsweb, Engage EHS and SafeUse. These acquisitions were fueled by investments secured in February 2020, from Goldman Sachs Merchant Banking Division and Summa Equity. This growth of momentum and capabilities landed EcoOnline within the Leaders Quadrant for their first entry into the latest Verdantix Green Quadrant.

With this news, EcoOnline joins Ideagen as one of the few EHS software vendors to be publicly listed on a stock exchange. With their latest listing, EcoOnline anticipates the additional investments can support their strategy and growth plans, including increasing market share through strategic acquisitions. This raises the question: will there be a growing trend of public listing among EHS software vendors?

The EHS software market has seen steady growth over the last five years with strong tailwinds emerging from the COVID-19 pandemic as firms recognized the value of these solutions relative to business resilience. The EHS Software market is forecasted to expand with a 11.5% CAGR from $1.47 billion in 2021 to $2.53 billion in 2026. Additionally, In 2020, 242 IPO transactions occurred, fueled primarily by the rise of special purpose acquisition companies or SPACs. With several of the largest EHS software vendors owned by private equity firms, there may be more following suit to capitalize on the growing demand for investment in an ever competitive and quickly growing market.

Bill Pennington

VP Research, EHS & Risk Management

Bill is the VP Research for the Verdantix EHS & Risk Management practices. His current agenda focuses on understanding the evolution of EHS and enterprise risk management, evaluating emerging strategic risks and benchmarking technology buyers’ budgets, priorities and preferences globally.