Investcorp grabs majority stake in Eficode

• Eficode is provider of DevOps consulting and managed services
• The company’s founder, Risto Virkkala, and its CEO, Ilari Nurmi, will continue as “significant” shareholders
• Eficode is present in 10 countries around the world, including Finland, Sweden, Denmark, Germany, Switzerland, the UK and the US

Investcorp made a “significant” investment to become a majority shareholder in Eficode, a provider of DevOps consulting and managed services.

Helsinki-based Eficode is present in 10 countries around the world, including Finland, Sweden, Denmark, Germany, Switzerland, the UK and the US, and employs approximately 600 professionals. The company grew its revenues from €22 million to over €150 million in the last 4 years, and now serves over 1,400 customers, according to Investcorp.

Eficode is the partner of choice for companies such as Volvo, P&G, Nokia, The Royal Bank of Scotland, OP Financial Group, Vodafone, ABB, Kone, Rovio and Vestas, among others.

“Eficode’s services are becoming increasingly important to companies in all industries as they go through digital transformation,” said Daniel Lopez-Cruz, head of European private equity at Investcorp. “Eficode provides mission-critical services that enable companies to meet the digital expectations of their customers, take their R&D capabilities to the next level, improve efficiency and cost management, and maintain their competitive edge.”

Manama, Bahrain-based Investcorp’s other investments in the Nordics include telematics provider ABAX, manufacturer of skiing and cycling apparel and equipment POC, and provider of clinical trial services Sanos.