Mercell acquires Cloudia Oy

CLP has assisted Mercell Holding ASA in its acquisition of 100% of the shares in the leading Finnish e-Tendering provider Cloudia Oy for EUR 102.5 million on a cash and debt free basis. EUR 89.6 million will be paid in cash on closing, reflecting a net debt adjustment of EUR 2.9 million, and the remaining EUR 10 million will be paid in Mercell shares during 2022 subject to satisfaction of retention and performance targets (based on the share price at the time of issue). The transaction was completed on 8 June 2021.

The acquisition of Cloudia represents another milestone in our consolidation of the Nordic market. Cloudia’s strong position with public buyers in Finland offers an ideal fundament to expand the supplier side of the market and cross-sell our post-award solutions. Further, the company has an experienced and strong management team and highly skilled employees, underpinning the impressive performance and results Cloudia has achieved. We look forward to including them in the Mercell family, says CEO Terje Wibe in Mercell.

CLP’s core team consisted of Alexander S. Lund and Amund Erdal.