Formica Capital establishes CodeIT Group – a new platform within industrial automation software

September 7, 2026

Formica Capital has, through the acquisition of CodeIT AS, CodeIT AB and CodeIT Innovation AS, established CodeIT Group, a leading Nordic industrial automation software specialist. Together with existing management and employees, Formica will support the group’s next growth phase through organic initiatives and selected strategic acquisitions. 

CodeIT Group provides mission-critical software solutions that enable manufacturing enterprises to seamlessly manage coding, labelling, marking, product traceability, and industrial data flows. The combined group serves clients across more than 30 countries, employs around 60 people and recorded sales of approximately NOK 150m in 2025. CodeIT Group has recorded steady annual organic growth of more than 15%. The company maintains long-standing, trusted partnerships with blue-chip manufacturing leaders, including Mowi, Orkla, Cermaq, Lantmännen, TINE, Boliden and Aker Solutions.

CodeIT Group operates in an attractive market characterised by increasing industrial digitalisation, supply chain complexity and requirements for traceability, transparency and product information. Regulatory developments such as EU Deforestation Regulation (EUDR) and the EU Digital Product Passport are driving strong demand for integrated, transparent and reliable manufacturing software. The group’s deep domain expertise and pre-built system integrations position it to help manufacturers maintain compliance while optimizing operational efficiency.

“CodeIT has built a strong position in an attractive market, supported by proprietary software, deep industrial domain expertise and long-standing customer relationships. Combined with powerful structural market drivers, this acquisition provides an excellent foundation for both organic and inorganic expansion. We look forward to supporting the team in the next phase of its progress” says David Leander, Partner at Formica Capital.

For more information please contact:

David Leander
Partner, Formica Capital
Tel: +46 72 22 32 581
david.leander@formicacapital.se

Marcus Undén
Investment Associate, Formica Capital
Tel: +46 761 13 86 93
marcus.unden@formicacapital.se

 

About Formica Capital
Formica Capital is an investment company owned by the Olsson Eriksson family. With a long-term investment perspective, Formica partners with strong management teams in growing and profitable Nordic companies to build the leading companies of tomorrow. www.formicacapital.se

About CodeIT Group
CodeIT Group is a Nordic provider of industrial automation software. Its solution manages labelling, marking, product traceability and industrial data flows for manufacturing companies. The software platform is hardware-independent and used by blue-chip customers across food, seafood, wood, industrial and energy sectors. www.codeitworldwide.com/