At CodeIT Innovation AS, our Norwegian-Ukrainian team has built strong capabilities in software development, information management, and digital solutions for the energy sector. Today marks an important milestone for our company.
We are proud to announce that Formica Capital has become the majority owner of CodeIT Group — the Nordic industrial automation software group that CodeIT Innovation AS is part of, together with CodeIT AS and CodeIT AB.
Formica Capital, an investment company owned by the Olsson Eriksson family, will join forces with our existing management team and dedicated employees to support the Group's next phase of expansion through organic initiatives and strategic acquisitions.
CodeIT has built a strong position in an attractive market, supported by proprietary software, deep industrial domain expertise and long-standing customer relationships. Combined with powerful structural market drivers, this acquisition provides an excellent foundation for both organic and inorganic expansion. We look forward to supporting the team in the next phase of its progress.
— David Leander, Partner, Formica Capital.
Welcoming our new majority owner marks an exciting new chapter for our company, and for the group. We've gained valuable experience and resources to our operations and ambitions, with continued emphasis on Ukraine.
— Andre Oaland, CEO, CodeIT Innovation
Bringing our companies together under CodeIT Group gives us a clearer way to combine our expertise and respond to opportunities across the business. CodeIT Innovation has built strong capabilities in information management and the energy sector, and I see real potential for the team to take on complex projects in other industries as well. For our customers, it means access to a broader range of expertise while continuing to work with the people who know their business.
— Christian Öhrn, CEO, CodeIT Group
Continuity for Our Partners and Customers
For our existing clients and partners, CodeIT Innovation AS will continue doing what we do best—with the same core technical team, management, and passion for software excellence. This partnership simply strengthens our ability to deliver more features, faster support, and deeper integrations.
Thank you to our dedicated team and customers for trusting CodeIT Innovation AS to power your industrial data and packaging lines. We are excited for what lies ahead.
About Formica Capital
Formica Capital is an investment company owned by the Olsson Eriksson family. With a long-term investment perspective, Formica partners with strong management teams in growing and profitable Nordic companies to build the leading companies of tomorrow.
About CodeIT Group
CodeIT Group is a Nordic provider of industrial automation software. Its solution manages labelling, marking, product traceability, and industrial data flows for manufacturing companies. The platform is hardware-independent and used by blue-chip customers across the food, seafood, wood, industrial, and energy sectors.