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Apax Global Alpha Ltd on Tuesday said that the Apax X Fund has reached an agreement to acquire Norway-headquartered environment, health and safety firm EcoOnline Holding AS.
Apax Global Alpha is a limited partner in the X Fund, and will invest about €12.3 million in EcoOnline as part of the deal. The offer price is NOK22.75 per EcoOnline share. Apax Global Alpha allows investors access to a portfolio of private equity funds advised by Apax.
The deal is expected to close in the second half of 2022.
‘Apax's environment, health and safety software market experience ideally positions it to partner with EcoOnline to unlock its potential as a private company, working closely with Apax's Operational Excellence Practice to drive both organic and inorganic growth,’ Apax Global Alpha said.
In July 2019, Apax Global Alpha made a commitment of $450 million to the X Fund.
Shares in Apax Global Alpha were up 2.8% to 187.65 pence each in London on Tuesday morning.
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