The cold storage industry in the Nordics plays a crucial role in a booming food supply chain, ensuring the safe transport and storage of temperature-sensitive goods. Companies in this sector include logistics providers, refrigeration manufacturers, and distribution networks specializing in frozen and perishable items. With increased demand for fresh produce and pharmaceuticals, the industry is evolving to incorporate advanced technologies for efficiency and sustainability. This includes smart temperature monitoring and automated storage solutions, which are expected to shape the sector's future. As consumer awareness grows, sustainable practices are gaining momentum, making this industry ripe for investment and innovation.


This list features a blend of investors, primarily from private equity and corporate backgrounds, headquartered in cities like Stockholm and Copenhagen. They range in size from small teams to large organizations, illustrating various investment approaches. Established firms such as EQT Group and younger entrants like Katapult are shaping this market, with multiple transactions executed in 2024. This indicates a healthy interest in cold storage logistics, showcasing investor confidence in companies driving advancements in temperature-controlled supply chains.


Top 12 Cold Storage Investors in the Nordics


1. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a prominent investment firm based in Stockholm, Sweden, specializing in private equity, infrastructure, real estate, growth equity, and venture capital. Founded in 1994, EQT serves institutional investors by providing expertise in managing diverse investment portfolios across multiple sectors and geographies. Notably, EQT has made significant strides in the cold storage industry, exemplified by their recent acquisition of Constellation Cold Logistics, which is set to close in October 2024. This acquisition underscores their strategic focus on enhancing capabilities in cold storage logistics. Additionally, EQT's acquisition of Envirotainer in June 2022 for over $2.9 billion further solidifies their position in the cold storage sector, as Envirotainer specializes in temperature-sensitive air cargo solutions. These transactions reflect EQT's commitment to investing in and expanding their footprint within the cold storage industry, making them a relevant player in this space.


2. A.P. Moller - Maersk

  • Website: maersk.com
  • Type: Corporate
  • Headquarters: Copenhagen, Denmark
  • Founded year: 1904
  • Headcount: 10001+
  • Number of deals in 2024: 4
  • LinkedIn: maersk-group

A.P. Møller – Mærsk A/S is a leading logistics company based in Copenhagen, Denmark, specializing in shipping and logistics services globally. Founded in 1904, the company has evolved to provide comprehensive solutions for shipping, port operations, supply chain management, and warehousing. In recent years, Maersk has made strategic acquisitions to enhance its logistics offerings, including the acquisition of Performance Team for $545 million, which expanded its North American warehouse capabilities. This acquisition is particularly relevant to the cold storage industry as it increases Maersk's ability to handle temperature-sensitive goods. Additionally, Maersk's acquisition of Pilot Freight Services for approximately $1.7 billion further strengthens its logistics network, addressing customer demands in both B2C and B2B sectors. These transactions demonstrate Maersk's commitment to enhancing its logistics infrastructure, which is essential for effective cold storage solutions.


3. Accent Equity


Accent Equity is a private equity firm based in Stockholm, Sweden, founded in 1994. The firm specializes in investments in private Nordic companies, focusing on enhancing the value of its portfolio through strategic management and investment. Accent Equity aims to create sustainable growth and superior returns for its clientele across multiple sectors. Notably, the firm has been involved in several acquisitions that are relevant to the cold storage industry, including the acquisition of Tempcon Group in 2016, which is likely engaged in temperature-controlled logistics. Additionally, their acquisition of Jetpak in 2006, a logistics company, further demonstrates their interest in sectors that may intersect with cold storage operations. Overall, Accent Equity's diverse portfolio and strategic focus make them a significant player in the investment landscape, particularly in areas related to cold storage.


4. Dfds

  • Website: dfds.com
  • Type: Corporate
  • Headquarters: Copenhagen, Denmark
  • Founded year: 1866
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: dfds

DFDS, founded in 1866 and based in Copenhagen, Denmark, is a prominent logistics and ferry operator providing passenger and freight transportation services across Europe. The company operates a network of ferry routes and offers logistics solutions tailored to various sectors. In recent years, DFDS has made strategic acquisitions to enhance its logistics capabilities, particularly in the cold storage sector. Notably, the acquisition of McBurney Transport for nearly £138 million in December 2022 allowed DFDS to strengthen its cold chain logistics operations in the UK and Ireland, focusing on the food sector. Additionally, the acquisition of Lucey Transport in July 2022 aimed to improve domestic logistics offerings in Ireland, while the acquisition of the Estron Group in July 2023 further expanded their logistics network across Europe. These transactions highlight DFDS's commitment to enhancing its cold storage and logistics services, making it a significant player in the industry.


5. Altor Equity Partners

  • Website: altor.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2003
  • Headcount: 51-200
  • Number of deals in 2024: 6
  • LinkedIn: altor

Altor Equity Partners is a private equity investment management firm based in Stockholm, Sweden, founded in 2003. The firm specializes in enhancing operational efficiency and sustainable growth for its partners through tailored investment strategies and digital transformation solutions. Altor has been involved in various sectors, including technology and consumer products. Notably, they acquired Nordic Climate Group, a leading services and solutions company in the cooling and heating industry in the Nordics, which had pro forma revenues estimated at 2.2 billion SEK as of April 30, 2022. This acquisition highlights Altor's engagement in industries that intersect with cold storage, as effective cooling is critical for maintaining the integrity of temperature-sensitive products. Additionally, Altor has made several other acquisitions, such as Constructor and Haarslev Industries, which, while not directly related to cold storage, demonstrate their active investment strategy across diverse sectors.


6. Katapult

  • Website: katapult.vc
  • Type: Venture Capital
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 8
  • LinkedIn: katapult-accelerator

Katapult is an impact investment firm based in Oslo, Norway, founded in 2017. They focus on tech startups that address global challenges, providing investment, accelerator programs, and mentorship to early-stage companies. Katapult has been involved in several relevant transactions, particularly in the cold storage context. For instance, they participated in the seed funding round for Figorr, a technology firm specializing in IoT solutions for the last-mile delivery of perishable goods, which raised $1.5 million in May 2023. This investment highlights their commitment to supporting innovative solutions that enhance cold storage logistics. Additionally, they have invested in other startups like Sensefinity and Carryt, which, while not directly related to cold storage, demonstrate their focus on technology-driven solutions. Overall, Katapult's investment strategy aligns with the needs of the cold storage industry, particularly in the context of improving logistics and sustainability.


7. Polaris Private Equity


Polaris Private Equity is a private equity firm based in Copenhagen, Denmark, founded in 1998. The firm specializes in investment management, focusing on supporting mid-sized companies in the Nordic region through tailored investment strategies, including private equity, flexible capital, and public equity. Polaris partners with management teams to drive growth and operational improvements, helping these companies realize their full potential. Notably, Polaris has made several acquisitions in the logistics and transportation sector, such as Link Logistics A/S, Denmark's largest broker in express and courier transportation services, and Jetpak, which operates in the logistics space. These transactions highlight Polaris's engagement in industries that are closely related to cold storage, suggesting a strategic interest in the supply chain and logistics that could encompass cold storage operations.


8. Beijer Ref

  • Website: beijerref.com
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1866
  • Headcount: 5001-10000
  • Number of deals in 2024: 6
  • LinkedIn: beijerref

Beijer Ref AB, founded in 1866 and based in Stockholm, Sweden, is a prominent wholesaler and manufacturer specializing in refrigeration and HVAC solutions. The company provides a comprehensive range of products, including refrigeration systems, air conditioning solutions, and heat pumps, primarily serving installers and businesses in the food retail and commercial sectors. Beijer Ref has a strong focus on environmentally friendly technologies and operates through a vast network of subsidiaries and branches across multiple regions. Recently, Beijer Ref has made significant strides in the cold storage sector through strategic acquisitions. Notably, they acquired Transport Cooling SA, a distributor of transport cooling solutions for trucks and trailers, which enhances their capabilities in the cold chain logistics space. Additionally, the acquisition of Chaud Froid Distribution, a company with over 20 years of experience in refrigeration, further solidifies their position in the cold storage market. These transactions reflect Beijer Ref's commitment to expanding its influence and offerings in the cold storage industry.


9. Indutrade Life Science

  • Website: indutrade.se
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1978
  • Headcount: 1001-5000
  • Number of deals in 2024: 14
  • LinkedIn: indutrade-life-science

Indutrade Life Science is a corporate investor based in Stockholm, Sweden, founded in 1978. The company is part of an industrial group that focuses on developing and acquiring companies with high technical expertise across technology and industrial sectors. Indutrade emphasizes long-term relationships with its customers and operates through a decentralized structure, allowing its subsidiaries to maintain independence while benefiting from the group's resources. Notably, Indutrade has made strategic acquisitions that align with cold storage solutions, including the acquisition of Oscar Medtec, a prominent supplier of medical refrigerators and examination furniture, finalized on June 13, 2022. This acquisition highlights Indutrade's commitment to the cold storage sector, particularly in medical applications. Additionally, their recent acquisition of Labema, which imports and delivers laboratory products and diagnostic equipment, further underscores their involvement in industries that require cold storage solutions.


10. Caverion

  • Website: caverion.com
  • Type: Corporate
  • Headquarters: Vantaa, Uusimaa, Finland
  • Founded year: 1912
  • Headcount: 10001+
  • LinkedIn: caverion

Caverion is a technical service company based in Vantaa, Uusimaa, Finland, specializing in building performance, maintenance, and lifecycle management. Founded in 1912, Caverion has grown to employ over 10,000 people and offers a wide range of services, including technical installations, project management, and smart solutions for businesses in the construction and real estate sectors. Notably, Caverion has made strategic acquisitions to enhance its market position, including the acquisition of Arneg Kühlmöbel u. Ladeneinrichtungen, a leading supplier of cooling technology in Austria, in 2016. This acquisition supports Caverion's growth strategy in the cooling technology market, which is essential for cold storage applications. Additionally, Caverion acquired GTS Immobilien GmbH in 2021, a building automation provider, further emphasizing its commitment to smart technologies that can enhance efficiency in built environments. These transactions highlight Caverion's relevance in the cold storage sector through its focus on cooling solutions.


11. Seb

  • Website: sebgroup.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1856
  • Headcount: 10001+
  • Number of deals in 2024: 13
  • LinkedIn: seb

Skandinaviska Enskilda Banken AB (SEB) is a leading banking group in Northern Europe, providing a wide range of financial services including corporate and investment banking, asset management, and private wealth management. Founded in 1856, SEB serves large corporations, institutional clients, and private individuals, helping them manage their financial assets and navigate investment opportunities. In recent transactions, SEB has participated in funding rounds for Swedish Logistic Property, raising significant amounts in post-IPO equity, which indicates their engagement in the logistics and storage sector. This involvement highlights SEB's interest in sectors that may include cold storage, as logistics properties often encompass facilities for temperature-sensitive goods.


12. Sdiptech

  • Website: sdiptech.se
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Headcount: 1001-5000

Sdiptech AB is an infrastructure technology group based in Stockholm, Sweden, that focuses on enhancing the efficiency and sustainability of infrastructure through specialized technology, solutions, and services. The company serves various businesses and organizations involved in infrastructure development, addressing critical renovation and expansion needs in aging systems. Notably, Sdiptech has made strategic acquisitions to bolster its portfolio, including the acquisition of GAH (Refrigeration) Ltd, a UK-based transport refrigeration company, for £33 million. GAH specializes in manufacturing and maintaining transport refrigeration systems, marking Sdiptech's commitment to the cold storage sector. This acquisition is part of Sdiptech's strategy to develop technology companies that contribute to societal growth, further solidifying its role in the cold storage industry.



Cold Storage Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
A.P. Moller - MaerskCopenhagen, Denmark10001+19044
Accent EquityStockholm, Stockholm, Sweden11-5019944
DfdsCopenhagen, Denmark10001+18662
Altor Equity PartnersStockholm, Stockholm, Sweden51-20020036
KatapultOslo, Oslo, Norway11-5020178
Polaris Private EquityCopenhagen, Denmark51-20019984
Beijer RefStockholm, Stockholm, Sweden5001-1000018666
Indutrade Life ScienceStockholm, Stockholm, Sweden1001-5000197814
CaverionVantaa, Uusimaa, Finland10001+19120
SebStockholm, Stockholm, Sweden10001+185613
SdiptechStockholm, Stockholm, Sweden1001-50000


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