Global information services company Wolters Kluwer has completed its €250 million ($275 million) acquisition of environment, health and safety (EHS) software provider Enablon.
The acquisition is one of the largest European venture capital exits this year, the companies said.
The purchase follows a €10 million ($11 million) investment from ETF Partners’ Environmental Technologies Fund in 2011. This helped the Paris-based EHS and risk management software developer grow from 250 customers and 200,000 users to more than 1,000 major global corporate customer and more than 1 million software users today.
Enablon generated software and services revenues of about €45 million ($50 million) in 2015, and expects its revenues to reach about €55 million ($61 million) this year.
Under the purchase agreement, Enablon will become an operating unit of Wolters Kluwer’s legal and regulatory division.
Last month, the Enablon Enterprise-Class Platform received the Top Product of the Year Award from Environmental Leader. The judges described the platform as an exemplary product for leading performance in EHS and sustainability management.
Based on a survey of more than 300 EHS managers globally, Verdantix named Enablon one of the top EHS software suppliers earlier this year.