Cinven said on 6 May that it had agreed to invest in Ongoing Warehouse, a Swedish provider of cloud-native warehouse management system software.
Why Cinven is buying Ongoing Warehouse
Cinven cited Ongoing's exposure to the shift towards specialised cloud warehouse software, its recurring revenue model, high customer retention and record of organic growth, and sees scope to use AI to improve automation.
Deal terms and financing
Financial terms were not disclosed. Co-founders Henrik Ekman and Gerhard Guron remain significant shareholders and partners, and chief executive Fredrik Einarsson continues to run the business as a shareholder.
Market context
Founded in 2008 and based in Gothenburg, Ongoing serves third-party logistics providers and companies operating their own warehouses with real-time inventory control, goods management and analytics.
