Norvestor divests Apsis


Norvestor V, L.P. and Norvestor V SBS, L.P. (“Norvestor”), have signed an agreement to divest APSIS Group AB and its subsidiaries (“APSIS” or “the Company”), to Efficy SA (“Efficy”). Apsis is a Nordic technology provider of an all-in-one Software-as-a-Service (SaaS) marketing platform, focused on mid-market clients.

Since Norvestor invested in APSIS in 2010, the company has established itself as a preferred provider of marketing technology solutions for mid-market clients in the Nordic region, and achieved strong growth. The Company has invested significant resources to develop and roll-out APSIS One, an all-in-one marketing platform, expanding the scope of the platform to meet the changing needs of modern marketers.

“We are very pleased by the dedicated work the APSIS management team and whole organization has put into developing APSIS into an all-in-one marketing automation platform, taking a leading Nordic mid-market position. We believe APSIS and Efficy represent a logical strategic combination, creating a strong pan-European software player with a broad offering, positioned for continued growth”, says Henning Vold, Partner in Norvestor Advisory.

“Anticipating the future evolution within the marketing technology-space, APSIS has, in recent years, been developing and commercializing APSIS One, an all-in-one digital marketing platform, to satisfy the rapidly changing needs of our customers. We have enjoyed working together with Norvestor, who have been an excellent partner throughout this journey. Now we look forward to joining forces with Efficy, and to continue to deliver unmatched customer experience and growth throughout Europe”, says Emma Dyga, CEO of APSIS.

Norvestor was advised by GCA Altium and Advokatfirman Cederquist KB.

The transaction is expected to close in August 2021.

For further information:

Henning Vold, Partner Norvestor Advisory
Telephone: +47 908 79 581

Emma Dyga, CEO Apsis
Telephone: +46 734 390 652

APSIS is a leading Nordic provider of a Software-as-a-Service platform for marketing automation, email marketing and marketing personalisation, focused on mid-market clients. The Company has its headquarters in Malmö, Sweden, and subsidiaries in Norway, Finland, Denmark and Hong Kong, in addition to a branch in the Netherlands. Today, Apsis serves more than 2,800 customers internationally, with focus on the Nordic region. Read more at

Norvestor is a leading private equity firm focusing on mid-market buyouts in the Nordic region with offices in Oslo, Stockholm, Helsinki, Copenhagen and Luxembourg. The team has worked together since 1991 making it one of the most experienced private equity teams in the Nordics, having executed 77 investments with more than 300 follow-on M&A transactions, in addition to executing 52 exits including 16 IPOs. The Norvestor funds seek to invest in growth companies in the Nordic mid-market that have potential to achieve a leading Nordic or international position, typically through organic growth, acquisitions across fragmented industries and by geographic expansion. Read more at

Efficy is a software provider offering medium & large businesses a complete, flexible, and extended CRM (Customer Relationship Management) solution which helps companies manage their customer relationship. Founded in 2005, Efficy works with companies from a wide variety of sectors: Banking (Belfius, BNP Paribas, Fortuneo), Insurance & Mutual insurance (Amma, Wilink), Social housing, Industry (CEA, Gradus, Poujoulat), Services, Tourism & Transport (Kinepolis, Geneva Tourism), Retail (La Redoute, Groupe Gautier), Legal, Local authorities & Chambers of commerce. Read more at