Cool Company acquires the Swedish operations from Ukko

Finland Sweden M&A 27 June 2018
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Cool Company, a Stockholm, Sweden-based company providing a management platform for freelancers, announced the acquisition of the Swedish operations from Ukko.

The deal, which has the financial details undisclosed, involves taking control of all of Ukko's contracts from Sweden and closing down Ukko continues its operations in Finland.

Cool Company, founded in 2010 by Jan Bergstrand and led by CEO Andreas Kullberg, provides a service for freelancers to get paid without having a formal company. The acquisition of Ukko's operations in Sweden is part of the company;s planned expansion - the company is already present in Norway and the UK.

The company, which is 70% owned by Verdane Capital, had sales of SEK 315M ($35M) in 2017 and expects more than 30% growth for 2018.

Ukko was founded in 2012, is led by  and is managed by SLP Group Ltd. The company provides a digital solution that allows freelancers to invoice without a company of their own. The company had sales of EUR 39M ($46M) in 2016.