The construction engineering industry in the Nordics is a dynamic sector focused on delivering innovative infrastructure solutions and building structures. Companies engage in various areas such as project management, installation, maintenance, and technical consulting. Current trends point towards increased sustainability initiatives, enhancing energy efficiency, and adopting digital technologies across construction processes. The industry's growth is driven by a rising demand for urban development, infrastructure upgrades, and environmentally-conscious practices. Furthermore, the Nordics maintain a reputation for high-quality workmanship, positioning themselves as a destination for robust engineering solutions.

This list includes notable investors in the construction engineering sector, featuring private equity firms, corporate investors, and venture capital players. Predominantly based in Stockholm, with additional representations in Helsinki and Oslo, these firms vary in size from 11 to over 10,000 employees. Established between 1895 and 2014, these investors completed a notable number of deals in 2024, ranging from 0 to 30 investments. Their involvement underscores the ongoing evolution of the industry's financial landscape.

Top 13 Construction Engineering Investors in the Nordics

1. Instalco

• Website: instalco.se
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2014
• Headcount: 1001-5000
• Number of deals in 2024: 2
• LinkedIn: instalco

Instalco is a corporate investor based in Stockholm, Sweden, founded in 2014. The company specializes in installation and consulting services across various fields, including plumbing, electrical, ventilation, and industrial services. They cater primarily to businesses and organizations within the construction and industrial sectors, providing essential solutions that ensure efficient and safe operations. Instalco operates through a decentralized model, allowing local companies to maintain their identity while benefiting from shared resources and best practices. Notable transactions include the acquisition of Teampipe Sweden AB, which specializes in welding and pipe installations, allowing Instalco to enter new markets, particularly in the nuclear power industry. Additionally, their acquisition of Processus AB, an engineering firm focused on project management and automation, enables them to expand into the pharmaceutical sector, showcasing their versatility and strategic growth in related fields. Overall, Instalco's activities and focus areas position them as a significant player in the construction engineering industry.

2. 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 private equity firm based in Stockholm, Sweden, founded in 1994. The firm specializes in a diverse range of investment strategies, including private equity, infrastructure, real estate, growth equity, and venture capital. EQT serves institutional investors by providing expertise in managing varied investment portfolios across multiple sectors and geographies. Among their notable transactions in the construction engineering context, EQT acquired Aker Solutions in December 2013, a company known for its engineering services in the oil and gas sector. In July 2015, they acquired HusCompagniet, a residential construction firm, further solidifying their presence in the construction industry. Additionally, their acquisition of Apleona in January 2016, which provides facility management and real estate services, highlights their engagement in the construction and engineering sectors. These transactions illustrate EQT Group's active role in the construction engineering industry, making them a relevant investor in this space.

3. ASSA ABLOY Group

• Website: assaabloy.com
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1994
• Headcount: 10001+
• Number of deals in 2024: 21
• LinkedIn: assaabloy

ASSA ABLOY Group is a leading security solutions provider based in Stockholm, Sweden, specializing in locks, doors, gates, and entrance automation. Founded in 1994, the company has established itself as a leader in the security industry through innovation and a diverse product portfolio. In recent years, ASSA ABLOY has made significant acquisitions that enhance its offerings in the construction engineering context. Notably, they acquired Biosite Systems in 2020, a company that specializes in biometric access solutions for construction sites, aiming to improve access control in the construction sector. Additionally, their acquisition of Senior Architectural Systems in 2025, a UK-based manufacturer of aluminium fenestration solutions, further strengthens their position in the commercial construction market. These strategic moves reflect ASSA ABLOY's commitment to expanding its influence and capabilities within the construction engineering industry.

4. Afry

• Website: afry.com
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1895
• Headcount: 10001+
• Number of deals in 2024: 1
• LinkedIn: afry

AFRY AB is a consulting and engineering firm based in Stockholm, Sweden, founded in 1895. The company provides a wide range of services, including sustainability consulting, digital solutions, and project management across various industries. Notably, Afry has made several strategic acquisitions to enhance its capabilities in areas relevant to construction engineering. For instance, the acquisition of INSUCO in August 2021 aims to bolster their railway design offerings, which is a critical aspect of infrastructure development. Additionally, their acquisition of ProTAK in January 2021 and Cubiq Analytics in August 2021 reflects their commitment to enhancing digital solutions and data analytics, which are increasingly important in modern construction projects. These transactions demonstrate Afry's active role in the construction engineering sector, making them a significant player in the industry.

5. Almi

• Website: almi.se
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1994
• Headcount: 201-500
• Number of deals in 2024: 7
• LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) across various industries, including construction engineering. Almi aims to enhance the growth and competitiveness of these businesses by offering tailored financial solutions and guidance. Notable transactions include investments in companies like IsoTimber, which focuses on sustainable timber solutions, and Brinja, which is involved in innovative construction technologies. These investments indicate Almi's potential interest in supporting advancements in the construction engineering sector, even if not exclusively focused on it.

6. FSN Capital Partners

• Website: fsncapital.com
• Type: Private Equity
• Headquarters: Oslo, Oslo, Norway
• Founded year: 1999
• Headcount: 51-200
• LinkedIn: fsn-capital

FSN Capital Partners is a private equity investment firm based in Oslo, Norway, founded in 1999. The firm specializes in managing investments across various sectors, including services, green transition, industrials, and technology, with a strong emphasis on sustainable returns for institutional investors and pension funds. Notably, FSN Capital has made significant investments in the construction engineering sector, acquiring companies such as ViaCon, a provider of infrastructure solutions, HusCompagniet, a leading Danish house builder, and Instalco, a multi-disciplinary installation company. These acquisitions highlight FSN Capital's commitment to enhancing growth and transformation within the construction engineering industry, positioning them as a key player in this sector.

7. Intera Partners

• Website: interapartners.fi
• Type: Private Equity
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2007
• Headcount: 11-50
• Number of deals in 2024: 2
• LinkedIn: intera-partners

Intera Partners is a private equity firm based in Helsinki, Uusimaa, Finland, founded in 2007. The firm specializes in investment management and advisory services, focusing on growing and internationalizing Finnish and Swedish companies with revenues between €10-200 million. Intera Partners emphasizes responsible investing and building strong partnerships with business owners. Notably, they have made significant investments in the construction engineering sector, acquiring Kreate, a company involved in construction services, in 2014, and Sitowise Oy, which provides engineering and consulting services, in 2016. Additionally, they acquired Normek Group in 2008, further solidifying their presence in the construction engineering industry. These transactions highlight Intera Partners' commitment to supporting and developing companies within this sector.

8. Bravida

• Website: bravida.se
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2000
• Headcount: 10001+
• LinkedIn: bravida

Bravida is a corporate investor based in Stockholm, Sweden, founded in 2000. It operates as a technical service provider specializing in the installation and maintenance of electrical, heating, sanitation, ventilation, and security systems. Bravida serves property owners and facility managers across the Nordic region, ensuring that essential systems function reliably and efficiently. The company has been active in expanding its portfolio through acquisitions, including notable transactions such as the acquisition of Hangö Elektriska in 2018, which strengthened its position in southern Finland, and the acquisition of Viste & Sømme in January 2023. Other significant acquisitions include J. Beese VVS and Blik A / S in December 2020, AB Elektro in January 2022, and Runevads VVS Teknik AB in March 2021. These transactions highlight Bravida's commitment to enhancing its service offerings in the construction engineering sector, particularly in plumbing and electrical services.

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 various sectors, including technology and industrial products. 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. In recent years, Indutrade has made several significant acquisitions relevant to the construction engineering sector, including:1. **Ingenjörsfirman Geotech Aktiebolag** - Acquired on October 31, 2022, this company specializes in geotechnical field equipment, which is crucial for construction projects that require soil and foundation analysis.2. **Stabalux** - Acquired on April 1, 2022, Stabalux specializes in profile systems for facades, which are essential components in building construction and renovation.These acquisitions highlight Indutrade's commitment to expanding its portfolio in the construction engineering domain, making it a notable player in this industry.

10. Green Landscaping

• Website: greenlandscaping.se
• Type: Corporate
• Headquarters: Skegrie, Skåne, Sweden
• Founded year: 2009
• Headcount: 201-500
• LinkedIn:

Green Landscaping Group, founded in 2009 and based in Skegrie, Skåne, Sweden, is a corporate investor specializing in outdoor environment services, including green space maintenance and infrastructure development. The company serves municipalities, businesses, and property owners, emphasizing sustainability and quality in its service delivery. Green Landscaping operates through various subsidiaries across multiple countries, showcasing a decentralized business model. Notably, in 2022, Green Landscaping made several strategic acquisitions to enhance its capabilities in the construction engineering sector. They acquired SOREX Entreprenad AB, a land and construction company specializing in excavation works and groundwork projects, which highlights their commitment to expanding their construction engineering portfolio. Additionally, they acquired Markbygg Anläggning Väst AB and Aktiv Veidrift, further solidifying their presence in the construction industry. These transactions reflect Green Landscaping's strategic focus on integrating construction engineering services into their operations, making them a significant player in this field.

11. Etteplan

• Website: etteplan.com
• Type: Corporate
• Headquarters: Espoo, Uusimaa, Finland
• Founded year: 1983
• Headcount: 1001-5000
• Number of deals in 2024: 3
• LinkedIn: etteplan-group

Etteplan is a technology service company based in Espoo, Uusimaa, Finland, specializing in providing engineering solutions and software services to industrial businesses. Founded in 1983, the company has grown to employ between 1001 and 5000 people and has been active in various sectors, including aerospace, automotive, and medical technology. In recent years, Etteplan has made strategic acquisitions to enhance its engineering capabilities. Notably, in July 2023, they acquired LAE Engineering GmbH, an engineering company specializing in electrical planning and industrial automation, which is highly relevant to construction engineering. This acquisition aims to expand Etteplan's presence in the German market and strengthen its engineering service offerings. Additionally, their acquisition of BST Buck Systemtechnik GmbH in September 2021 further demonstrates their commitment to enhancing their technical expertise, which can be beneficial in construction-related projects. Overall, Etteplan's focus on innovative technologies and engineering solutions positions them as a relevant player in the construction engineering sector.

12. 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 focuses on enhancing operational efficiency and sustainable growth for its partners through tailored investment strategies and digital transformation solutions. Altor has been involved in several significant transactions, including the acquisition of Eleda Group in May 2020, which is engaged in construction and engineering services, highlighting their commitment to this sector. Additionally, they acquired Dynapac in June 2004, a company known for its construction equipment, further emphasizing their involvement in the construction engineering industry. Altor's diverse portfolio also includes investments in technology and renewable energy, showcasing their broad investment strategy while maintaining a foothold in construction-related sectors.

13. CapMan

• Website: capman.com
• Type: Private Equity
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 1989
• Headcount: 51-200
• Number of deals in 2024: 4
• LinkedIn: capman

CapMan Oyj is an investment management firm based in Helsinki, Finland, specializing in private equity, real estate, infrastructure, and natural capital investments. Founded in 1989, CapMan serves institutional investors by providing access to diverse investment strategies aimed at achieving sustainable returns. The firm has a strong presence in the Nordic markets and leverages its expertise to manage funds and drive value creation for its clients. Notably, CapMan has made significant investments in the construction engineering sector, including the acquisition of NYAB for $52.7 million in December 2022, which focuses on construction and infrastructure services. Additionally, they acquired Aro Systems Oy, further expanding their footprint in the engineering domain. Their investment in Marinetek Group, a company involved in marine construction, highlights their engagement in construction-related industries, reinforcing their role as a relevant investor in the construction engineering space.

Construction Engineering Insights: Key Investors in the Nordics

Investor	Headquarter	Size	Founded	Deals 2024
Instalco	Stockholm, Stockholm, Sweden	1001-5000	2014	2
EQT Group	Stockholm, Stockholm, Sweden	1001-5000	1994	30
ASSA ABLOY Group	Stockholm, Stockholm, Sweden	10001+	1994	21
Afry	Stockholm, Stockholm, Sweden	10001+	1895	1
Almi	Stockholm, Stockholm, Sweden	201-500	1994	7
FSN Capital Partners	Oslo, Oslo, Norway	51-200	1999	0
Intera Partners	Helsinki, Uusimaa, Finland	11-50	2007	2
Bravida	Stockholm, Stockholm, Sweden	10001+	2000	0
Indutrade Life Science	Stockholm, Stockholm, Sweden	1001-5000	1978	14
Green Landscaping	Skegrie, Skåne, Sweden	201-500	2009	0
Etteplan	Espoo, Uusimaa, Finland	1001-5000	1983	3
Altor Equity Partners	Stockholm, Stockholm, Sweden	51-200	2003	6
CapMan	Helsinki, Uusimaa, Finland	51-200	1989	4

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