Øgreid investing in Flow Retail

The long-standing investment firm Øgreid, with roots dating back to 1876, has invested in Sandnes-based software company Flow Solutions, known for delivering professional POS and e-commerce solutions to specialty retail since the 1990s.

A company they’ve followed closely for years

Håkon Sverre Rønning, Partner at Øgreid, says they have followed Flow Solutions closely for quite some time.

“We’ve been truly impressed by what the new owners and their team have accomplished since taking over the company in the summer of 2021 — not only building a brand new POS platform from the ground up, but also establishing themselves as one of Norway’s leading e-commerce providers,” says Rønning.

A major and strategic investment

CEO Halvor Øgreid explains that Øgreid likes to invest in great people and forward-looking companies — and that Flow Solutions is the perfect match.

“Local. Innovative. Ambitious. And professionally strong to the core. On top of that, they’re down-to-earth and proudly nerdy. We couldn’t have found a better company to invest in,” he says, adding that Øgreid always invests with an infinite time horizon.

Øgreid is clear about their high ambitions with this investment, and confirms they’ve secured the option to increase their ownership stake in the years ahead.

“With our expertise and network, we’ll do everything we can to help Flow Solutions become the leading provider of professional software for both physical retail and e-commerce,” he concludes.

Accelerating growth

“This investment from Øgreid will help us reach our goal even faster — to build the most modern and functional POS platform on the market, Flow Retail, with a strong focus on retail chains and skilled specialty retailers,” says Lars Ødegaard, CEO of Flow Solutions.

He adds that the investment will also support the company’s growing focus on e-commerce, where Flow Solutions already has a strong presence through the German platform Shopware.

A mark of quality and validation

Chairman and largest shareholder Roy-Andre Tollefsen says they’re very pleased to welcome Øgreid as a co-owner and contributor to further growth.

He emphasizes that bringing on such a respected name as Øgreid validates what Flow Solutions has been doing — both in developing their own retail platform and establishing themselves as a trusted e-commerce provider.

“We already have a highly skilled team across both retail and e-commerce. With Øgreid joining us, we’re excited to build on that even further in the years to come,” he adds.

Together with co-owners Kurt Inge Smådal and Lars Ødegaard, Tollefsen is reducing his shareholding to make room for Øgreid, who is acquiring an initial stake of 22%.

Hiring 8–10 new team members in 2023

As part of the growth plan, Flow Solutions is looking to hire up to 10 new employees in 2023 — particularly within software development.

“In addition to skilled and creative developers, we’re looking for people with real retail experience — whether from physical stores or e-commerce,” Ødegaard explains.

He adds that new openings in content, marketing, and UX will also be posted soon, and encourages open applications via work@flowretail.no.

Want to learn more?

Roy-Andre Tollefsen, CEO and Chairman, Flow Retail – royandre@flowretail.no

Halvor Øgreid – halvor.ogreid@ogreid.no