News - 21.03.2015

Herkules IV acquires SaaS provider Admincontrol

(Oslo, 21 March, 2015) Herkules IV has entered into an agreement to acquire the SaaS1 provider Admincontrol from its founders. Admincontrol is a leading provider of cloud based secure board portal solutions and virtual data room solutions in the Nordic countries.

Admincontrol was established in Norway in 2005 by SaasGarden and has at present implemented ~850 recurring board portal customers in six countries. Since inception, Admincontrol has delivered profitable growth, and the company continues to deliver more than 50% annual y/y sales growth. Admincontrol has built a large blue chip customer base across the Nordic countries. With approximately 40 employees, the company serves major private and public organisations that value confidential collaboration on and handling of corporate documents.

Admincontrol’s technology is a scalable platform that enables multiple best practice solutions for corporate governance. It facilitates secure sharing and collaboration between key stakeholders in an organisation, such as board members, shareholders, auditors and management, through a family of bespoke solutions built on a shared core technology. The Admincontrol platform is cloud based and accessible anytime anywhere, online and offline, via PC, MAC or iPad. Users will have access to all historical documents, notes and collaboration details, on all devices.

“Admincontrol has established a strong position in a fast growing niche market with increasing penetration levels. The robust business model, geared for further growth and with attractive scale economics, is an exciting platform to build on and invest in”, says Patrik Bø Egeland, Partner at Herkules Capital.

Christian Petersen, CEO, says: “We are looking forward to continue to grow Admincontrol together with the Herkules team. We will now be able to have even more focus on developing our products and services, and we are excited about the benefit this will bring for existing and new customers. Today, our stronghold is in Norway, and we have attractive positions in Denmark and Sweden. Focus going forward is continued growth in the Nordics, however, I am convinced that the solution has significant international potential”.

The transaction includes acquisition of all shares in Admincontrol AS from the founders of the company, SaasGarden AS (56%), and management, employees and financial shareholders. Employees will reinvest and continue as owners alongside Herkules Private Equity Fund IV. Closing of the transaction is planned to take place in April 2015.
Patrik Bø Egeland, Partner at Herkules Capital
Phone: +47 91 60 65 19

Christian Petersen, CEO at Admincontrol
Phone: +47 98 25 50 52
Admincontrol offers web-based solutions for secure and user friendly sharing of information in business critical processes. Since 2005, Admincontrol has developed secure solutions for use in connection with board and management work, due diligence, tender processes and projects. Admincontrol improves, simplifies and enables systematic dialogue and collaboration between the board of directors, the management and other internal or external stakeholders. For more information, please see

Herkules is a leading Private Equity firm in Norway and has raised funds with committed capital totalling approximately NOK 15 billion. We invest in companies located in the Nordic region, primarily in Norway, and acquire majority interests in established businesses with strong growth potential. We have a proven experience in working in partnership with existing shareholders. Our approach to ownership is industrial and long term, and is built on fundamental respect for the history, culture and experience within each individual company. More information can be found on

1 Software as a Service