CLP has assisted Credo Partners on the acquisition of Addovation AS

CLP has successfully advised funds managed by Credo Partners on the acquisition of Addovation AS, a leading Nordic provider of ERP systems for accelerated growth and expanded market reach in the digital transformation sector.

Since its establishment in 2008, Addovation has emerged as a trusted long-term partner for medium and large organisations, with a strong presence in the manufacturing sector. The company helps businesses digitalize their operations through business solutions, expertise and cloud services, simplifying the complex and building lasting partnerships that drive long-term value. With over 200 experts across Norway, Sweden, Finland and Sri Lanka, Addovation delivers comprehensive services as an IFS Regional System Integrator and NetSuite Alliance Partner.

Addovation's solutions help companies transform digitally, streamline operations and position themselves for sustainable growth. The company's client portfolio already includes industry leaders such as Tomra, Jotun, Avinor, Seam and Tibber, demonstrating its strong market position and expertise in delivering enterprise resource planning solutions. This strategic acquisition brings together Addovation's specialized expertise in IT services with Credo Partners' proven track record in scaling technology companies. The partnership creates significant opportunities for enhanced service delivery and expanded capabilities in the growing Nordic market for digital transformation services.

Joakim Hugosson, CEO of Addovation, comments in their press release: "This is a major moment for Addovation and for our customers. Credo Partners becomes a strong, strategic partner with the tools and experience needed to help us scale. This means more capacity, broader expertise and an even stronger offering for our customers."

Emphasizing the acquisition's strategic value, Gudmund Killi, Managing Partner at Credo Partners, stated: "Addovation has built a strong and highly attractive foundation in the Nordic market, with a customer-oriented and long-term mindset. We look forward to supporting their next growth phase and helping to deliver even more value to current and future customers."

The partnership positions Addovation for significant growth opportunities within Credo Partners' proven investment strategy focused on IT services. With Addovation soon reaching a team of 250 experts across borders, the company is well positioned for new market opportunities in a growing industry. Addovation will continue to operate under its current name, leadership and team, ensuring continuity for customers and partners while benefiting from Credo Partners' support to expansion and development.

CLP's core team for this transaction included Lars Gunnar Aas, Kristoffer Gjesdahl, Magdeli Støten and Benjamin Thormodsen.

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