Herkules Capital acquires Elis
Herkules Private Equity Fund III has acquired 100 percent of ICT company Elis AS. Elis is a leading Norwegian company within the development of CRM – and process systems for the energy sector. The company´s main product, ElWin is sold to more than 90 energy companies.
Elis develops and sells CRM – and process systems to the energy sector. Their product, ElWin, ensures the central processes within power and power network companies run efficiently and smoothly. In addition, ElWin´s module based system includes optional modules within consumer service management, self-service, billing, to mention only a few. The company´s goal is to become the most innovative within its sector in the Nordic region.
Elis was established in 1992 and is head quartered in Dale, Norway. The company has 63 employees and generated revenues of NOK 54 million in 2009.
Completion of the deal is subject to approval by Norwegian authorities.
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| Fund | Herkules Private Equity III LP Argentum share 4.99% |
| Portfolio Company | Elis (PKA Embriq) |
| Date of Transaction | 2010-04-07 |
| Transaction | Acquisition |
| Seller | Hafslund Venture |
| Buyer | |
| Size of Transaction | |
| Ind. Focus | ICT |
| Geography | Norway |
| Stage | Small/mid-cap buyout |