🟠 Formica Capital becomes majority owner of CodeIT Group
Formica Capital has acquired a majority stake in CodeIT Group. The transaction unites CodeIT AS, CodeIT AB and CodeIT Innovation AS under one group. The current owners remain invested and continue the journey together with Formica.
For customers and partners, the most important message is continuity. CodeIT's strategy and direction remain unchanged. Customer commitments, deliveries, products and support continue as before, and day-to-day operations remain with the CodeIT team our customers already know.
CodeIT has a clear plan for its continued development. The new ownership gives CodeIT greater capacity to invest in technology and expertise, and creates opportunities to support continued international growth and to explore strategic acquisitions.
Formica Capital is a Swedish, family-owned investment company owned by the Olsson Eriksson family. With a long-term investment perspective, Formica works in partnership with management teams and founders to develop profitable Nordic companies. More information is available at formicacapital.se.
"What this ownership gives us is a stronger basis for investing in the technology and the expertise our customers rely on, with an owner that shares our long-term perspective."
"Our customers depend on our software in daily production. That responsibility is unchanged."
CodeIT Group provides software and hardware for labelling, marking, product traceability, and industrial data flows, as well as information management and cyber security to manufacturers in more than 30 countries across the food, seafood, wood, industrial, and energy sectors.