AshGrove Capital Provides SEK150m Credit Facility to Position Green
Norvestor-backed Position Green is the Nordic leader in providing ESG software products and specialist advisory services, helping its clients manage ESG risk and build resilient and sustainable organisations
AshGrove’s capital will help to drive Position Green’s continued organic growth through further investments in the software platform alongside strategic acquisitions
London, September 30, 2024 – AshGrove Capital is pleased to announce a SEK150 million senior secured credit investment in Position Green, the leading Nordic provider of ESG software products and specialist advisory services.
Position Green, headquartered in Norway, was formed through the Swedish software business (Position Green) and the Norwegian specialist advisory firm (The Governance Group) coming together, backed by Norvestor, to create a Nordic champion with a full-service offering across software and advisory.
The business has an exceptional track record of growth supported by regulatory tailwinds and requirements for companies and investment firms to adopt ESG tracking and reporting tools in the EU and internationally.
AshGrove’s investment will enable Position Green to drive continued organic growth through additional investments in R&D to add improved functionality to the platform and support internationalisation, as well as pursue acquisitions to complement the company’s one-stop-shop approach to effective ESG management.
Position Green marks the fourth investment by AshGrove Specialty Lending Fund II (ASLF II), a €650m fund committed to providing tailored credit solutions to high quality small and medium sized European B2B software and services companies.
Ilkka Rantanen, Partner at AshGrove Capital, said: "We are delighted to be partnering with Norvestor to provide Position Green with additional firepower to continue its exceptional growth trajectory. AshGrove’s expertise in supporting high-growth B2B software businesses and our knowledge of the ESG software space was crucial for differentiating as the right partner for the business. Alongside the company’s top line growth, we were particularly impressed with Position Green’s industry leading retention metrics and diverse, blue chip customer base. With the help of our capital and expertise, we are excited to partner with Norvestor and the business as it continues to capitalise on the white space in the market."
Henning Vold, Partner at Norvestor, said: “We are thrilled to welcome AshGrove to the Position Green team. Their expertise within B2B software, sustainability focus, deep knowledge of the sector, as well as fundamental backing and understanding of the growth journey made them truly stand out. We and Position Green are happy to partner in driving business sustainability.”
About AshGrove Capital
AshGrove Capital is an independent pan-European specialty lender providing tailored credit solutions to European small and medium sized companies. The Firm focuses on senior secured investments in companies with resilient business models within B2B software and services, building long-term partnerships with businesses and their stakeholders. AshGrove integrates ESG principles and values in all aspects of its business, promoting responsible and sustainable business practices.
For more information, please visit www.ashgrovecap.com
About Position Green
Position Green is the Nordic leader in ESG software and advisory, helping its clients manage ESG risks and build resilient and sustainable organisations. The Company provides an integrated ESG offering combining a leading software suite with specialist advisory services across environmental, social and governance domains. The purpose-built software platform ensures that sustainability data meets equally rigorous requirements as financial data, and the company’s expert advisors help companies turn ESG ambition into impactful action.
For more information, please visit www.positiongreen.com
About Norvestor
Norvestor is a leading private equity company focusing on mid-market buyouts in the Nordic region. The team has worked together since 1991, making it one of the most experienced private equity teams in the Nordics, having executed 94 investments with more than 500 add-on acquisitions, in addition to executing 60 exits, including 16 IPOs. Norvestor seeks to invest in growth companies in the Nordic mid-market that have the potential to achieve a leading Nordic or international position, typically through organic growth, acquisitions across fragmented industries or by geographic expansion. Norvestor currently advises and manages funds with a committed capital of close to EUR 5.2 billion.
For more information, please visit www.norvestor.com
Contact
AshGrove Capital
ashgrove@burwaycapital.com