ABG Sundal Collier acted as exclusive financial advisor to the selling shareholders in the sale of Evelon AS to Upheads AS

On 30 June 2025, it was announced that Upheads AS (“Upheads”) has agreed to acquire the majority of the shares in Evelon AS (“Evelon”, the “Company”) for an undisclosed consideration.
Evelon is a Norwegian managed IT service provider with a strong foothold in South-East Norway, established through the merger of four well-performing IT service companies. The Company is a one-stop shop provider of business-critical services to SMEs, delivered as-a-service on a modern IT platform. Evelon reported FY2024 revenues of NOK 188 million.
Upheads is one of Norway’s largest providers of IT services and security for SMEs. In the last 5 years, Upheads has grown from 70 to 370 employees. Upheads emphasises IT security, Microsoft cloud services, and personalised support.