Alytic, a company in Arendals Fossekompani, invests in Factlines and will elevate Factlines to become a European turnkey supplier of responsibility, sustainability and life cycle assessments.
- Factlines is a good match for Alytic. The company has a highly competent team, a great software-as-a-service solution, a solid customer base and great potential," says Espen Zachariassen, CEO of Alytic.
Through the acquisition of 62 percent of Factlines, Alytic has provided the company with capital to undertake a massive investment.
- We will fill more than 20 new positions to create a European one-stop-shop for responsible supply chains, but also for new product lines, such as ESG reporting and lifecycle analysis. We are looking for expertise in sustainability, technology and sales," says Zachariassen.
EFFICIENT MAPPING
Factlines was founded in 2012 in response to the Norwegian government's ambition to strengthen sustainable procurement. Today, Factlines' digital solutions and expertise have streamlined the mapping of supply chains. Factlines supports the entire process - from requirements and ethical guidelines, to risk analysis, follow-up and dialog.
- Future market leaders must not only be good at economics, but also at ecology and sustainability. To achieve this, it is necessary to engage with suppliers in an efficient and systematic way. Factlines facilitates this work with our digital network solution. With Alytic on board, we can take our services to the highest level," says Siri Engesæth, CEO of Factlines and former CEO of the environmental foundation Bellona.
With offices in Norway and Denmark, Factline's typical customers are Nordic public procurement organizations and private companies.
THE NORWEGIAN TRANSPARENCY ACT
In just a few months, on July 1, 2022, the Transparency Act will come into force in Norway. The purpose of the Act is to promote companies' respect for fundamental human rights and decent working conditions in connection with the production of goods and services.
- The Transparency Act changes everything. Supply chain documentation used to be a nice-to-have, but now it will be required by law. This will expand our market opportunities enormously. At a time when most businesses will struggle to comply with the new law, Factlines already offers a solution that is digital, easy to implement, and more affordable than consultants offering similar services," says Engesæth.
Zachariassen adds: - "We are looking to scale up Factlines and we think the timing is perfect to do so.
Alytic was established in 2020 to create value from domain knowledge and data by acquiring and scaling companies with strong domain expertise, vast data sets and clear growth potential. Alytic has previously acquired Kontali, Utel and Greenfact.
- "Alytic will add knowledge and capacity in business development and technology. There are obvious synergies between Factlines and Greenfact, and also between Factlines and Arendals Fossekompani, which has a strong focus on ESG," says Zachariassen.
Sustainability Director Ingunn Ettestøl of Arendals Fossekompani joins the board of Factlines.
- Factlines will complement the sustainability team and simplify the documentation process. I look forward to working with Siri and her team," says Ettestøl.
