Evli Private Capital, a part of Evli Group and specializing in private equity, has made a major investment of five million euros in the Finnish growth company EWQ Zone Oy. This strategic investment is dedicated to the company's international expansion and development, with an option for an additional investment of five million euros, bringing the total amount to ten million euros. As a result of the investment, Evli will become a significant minority shareholder in EWQ.
EWQ has solidified its position as a provider of equipment and services that lower the retail sector's carbon footprint and costs. The company’s proprietary technology integrates digital price and information displays, queueing solutions, and content management systems within store and service environments. Beneath the consumer-facing displays, digital tools enhance sustainability by reducing paper and energy consumption, minimizing waste, and making pricing and inventory management more efficient for its customers.
While the primary focus of the company's business is on retail, its solutions are versatile and widely applicable across multiple industries, such as financial and insurance services, healthcare, HoReCa and logistics. EWQ's customer base includes prominent Nordic brands, such as Apoteket, DNA, Elkjøp, ICA, Kesko and SOK.
EWQ has experienced rapid growth in recent years with an impressive average annual growth rate of over 30%. Its turnover is expected to approach 15 million euros in 2024. The company employs more than 30 people in Finland and Sweden.
"Now is the perfect time to ambitiously aim for the top of the Nordic market together with the Evli team. This investment provides us with a strong ownership base and a robust balance sheet, allowing us to accelerate our expansion in the Nordic markets, also through acquisitions. This new investment enables us to elevate our Software-as-a-Service (SaaS) offerings and launch new features and services. At the same time, we help our customers improve their sustainability with our resource-efficient and circular economy-promoting products and services," says Sampo Brisk, CEO of EWQ.
The retail sector is a key driver of the global economy and a major employer. In addition, the sector is estimated to account for approximately 25% of global greenhouse gas emissions*. As the demands and expectations for sustainable development rise, the retail sector's commitment to lower-carbon operations and supply chains as well as the importance of innovation will become increasingly crucial.
"Many large retailers have set clear targets and timetables for reducing emissions. We are part of their value chain, and that's why it's important to develop new services to achieve more sustainable operations," continues Brisk.
"We are thrilled that EWQ has been selected as the first investment for our new fund. Strong megatrends support the company's business and open exciting growth opportunities for an agile and responsible player like EWQ. We believe there is strong demand for solutions that offer multiple benefits to customers, making their stores smarter, more efficient, more environmentally friendly and more appealing to consumers. As active owners, we will support the management in the next phase of the company's growth journey and in further developing the business," says Kia Aejmelaeus, Partner at Evli Private Capital.
Evli's new Evli Private Capital Fund I is dedicated to driving the green transition. The fund makes significant minority investments in Finnish and Swedish small and medium-sized growth companies within energy transformation, resource efficiency, and the circular economy. The private equity team’s previous investments include Proventia, Solnet Green Energy, Bladefence and Elcoline.
For more information
Kia Aejmelaeus, Partner, Investment Director, Evli Private Capital, +358 40 765 4616, kia.aejmelaeus@evli.com
