The electronic components manufacturing industry in the Nordics is a vital segment of the technological landscape, with companies engaging in the production of a wide array of devices and parts. This includes printed circuit boards, semiconductor technologies, sensors, and more, catering to sectors like automotive, telecommunications, and healthcare. The industry is witnessing a shift towards automation, energy efficiency, and smart technology, driven by global demand for IoT and sustainable solutions. Notably, Nordic companies are prioritizing research and innovation to enhance their offerings, making this region a dynamic hub for electronic manufacturing advancements.

The list features a mix of corporate and venture capital investors active in the electronic components sector, predominantly headquartered in Stockholm. With founding years ranging from 1978 to 2015, these investors employ various strategies to nurture tech innovations. Most have sizes varying from small to large, and in 2024, they collectively executed over 90 deals, showcasing their aggressive engagement in the market. Such activity reflects a strategic focus on harnessing the growth potential within the electronic components landscape.

Top 13 Electronic Components Manufacturing Investors in the Nordics

1. 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) in Sweden. Almi aims to enhance the growth and competitiveness of these businesses through tailored financial solutions and guidance. Notably, Almi has been involved in several transactions relevant to the electronic components manufacturing sector, including investments in companies like SweGaN, which raised €1 million in pre-seed funding to develop its system-in-package technology for high-frequency wireless applications. They also invested in Hexagem and Acconeer, both of which are involved in innovative technologies that could intersect with electronic components. These transactions highlight Almi's commitment to supporting technological advancements in the electronic components field.

2. 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 operates as part of an industrial group that emphasizes the development and acquisition of companies with high technical expertise across various sectors, including technology and industrial products. In 2023, Indutrade made significant strides in the electronic components manufacturing space by acquiring I-tronik, an Italian company specializing in machinery and services for the assembly and manufacturing of Printed Circuit Boards (PCBs). This acquisition, along with others in their portfolio, showcases Indutrade's strategy to enhance its capabilities in the electronic components sector while maintaining a decentralized structure that allows its subsidiaries to operate independently. Their approach fosters long-term relationships with customers and positions them as a key player in the industrial landscape.

3. Addtech AB

• Website: addtech.se
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1906
• Headcount: 1001-5000
• Number of deals in 2024: 9
• LinkedIn: addtech-ab

Addtech AB, founded in 1906 and based in Stockholm, Sweden, is a corporate investor specializing in high-tech products and services across multiple sectors, including automation, electrification, energy, industrial solutions, and process technology. The company serves OEM manufacturers and end-users, focusing on enhancing operational efficiency and sustainability through innovative solutions. Notably, Addtech has made several strategic acquisitions relevant to the electronic components manufacturing sector, including STIGAB, which specializes in components for automation, and Sensor Control Nordic, which is involved in sensor technology. These acquisitions reflect Addtech's commitment to expanding its footprint in the electronic components market, making it a significant player in this industry.

4. 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 founded in 1994, specializing in private equity, infrastructure, real estate, growth equity, and venture capital. Based in Stockholm, Sweden, EQT serves institutional investors by providing expertise in managing diverse investment portfolios across multiple sectors and geographies. Notably, EQT has made significant investments in the electronic components manufacturing sector, including the acquisition of Murata Electronics in Finland in 2002 and Salcomp Oy from Nokia in 1999. These transactions highlight EQT's commitment to the electronic components industry. Additionally, EQT has invested in companies like EA Elektro-Automatik and BBS Automation, which, while not exclusively focused on electronic components, operate in related fields that support manufacturing and automation processes. This diverse investment strategy positions EQT as a key player in the electronic components manufacturing landscape.

5. 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 expanded its reach into the electronic components manufacturing sector through strategic acquisitions. Notable transactions include the acquisition of a manufacturer of RFID inlays for electronic passports in 2007, which highlights their involvement in electronic identification technologies. More recently, in 2023, they acquired Kinetron, a specialist in motion-based energy harvesting systems, to enhance their digital access solutions. Additionally, their acquisition of Technology Solutions (UK) Ltd in 2021, which focuses on mobile RFID readers, further solidifies their position in the electronic components market. These transactions reflect ASSA ABLOY's commitment to integrating electronic components into their security solutions, making them a relevant player in the electronic components manufacturing industry.

6. Chalmers Ventures

• Website: chalmersventures.com
• Type: Venture Capital
• Headquarters: Sweden
• Founded year: 2015
• Headcount: 11-50
• Number of deals in 2024: 26
• LinkedIn: chalmers-ventures

Chalmers Ventures is a venture builder and tech investor based in Sweden, founded in 2015. They specialize in deep tech innovations and actively support researchers and entrepreneurs in commercializing their technologies. Their investment strategy emphasizes active ownership and providing business guidance, financing, and community networking to help startups scale and succeed. Among their notable transactions, they invested in Smoltek AB, which raised $2,500,000 in a Seed Round in 2013, focusing on advanced materials for electronic applications. Additionally, they have invested in Rdot Display, which raised funds in a Pre-Seed Round, indicating their engagement with companies that may operate within the electronic components space. Their recent investment in Mat4Green Tech further demonstrates their commitment to supporting innovative technologies that could intersect with electronic components manufacturing.

7. NCAB Group

• Website: ncabgroup.com
• Type: Corporate
• Headquarters: Sundbyberg, Stockholm, Sweden
• Founded year: 1993
• Headcount: 501-1000
• Number of deals in 2024: 4
• LinkedIn: ncab-group

NCAB Group is a corporate investor based in Sundbyberg, Stockholm, Sweden, specializing in the manufacturing of printed circuit boards (PCBs) for a diverse range of industries, including Aerospace, Automotive, and Medical. Founded in 1993, NCAB Group has established itself as a key player in the PCB market, focusing on delivering high-quality products through stringent quality controls and efficient production processes. The company serves OEMs and EMS providers who depend on NCAB for reliable and timely PCB solutions. In 2021, NCAB Group made significant strides in expanding its market presence through several strategic acquisitions, including the purchase of Elmatica, a Norwegian PCB supplier, for €31.5 million, and the acquisition of the PCB division of EPI Components Trade in Austria. In 2023, they continued this trend by acquiring Phase 3 Technologies, a US-based PCB company, for $23.5 million, which is expected to enhance their growth in the US market. These transactions highlight NCAB Group's active role in the electronic components manufacturing industry and its commitment to strengthening its position through strategic investments.

8. Indutrade AB

• Website: indutrade.com
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1978
• Headcount: 5001-10000
• Number of deals in 2024: 1
• LinkedIn: indutrade-ab

Indutrade AB is a technology and industrial group based in Stockholm, Sweden, founded in 1978. The company develops and acquires businesses characterized by high technical expertise, operating through over 200 subsidiaries. Indutrade provides a diverse range of industrial and technological products across various sectors, including infrastructure, medical technology, and energy. Notably, Indutrade has made several acquisitions relevant to the electronic components manufacturing industry, such as Wennerström Ljuskontroll AB, a Swedish company specializing in lighting components, and VarioDrive, a supplier of motion control solutions. These transactions highlight Indutrade's commitment to expanding its portfolio in the electronic components sector, enhancing its capabilities and market presence. The company emphasizes decentralized leadership and long-term relationships with its customers and partners, further solidifying its position in the industry.

9. NIBE Industrier AB

• Website: nibe.se
• Type: Corporate
• Headquarters: Markaryd, Kronoberg, Sweden
• Founded year: 1952
• Headcount: 5001-10000
• LinkedIn: nibe-ab

NIBE Industrier AB is a corporate investor based in Markaryd, Kronoberg, Sweden, specializing in energy-efficient heating and cooling solutions. Founded in 1952, the company has grown to employ between 5,001 and 10,000 people. NIBE offers a range of products including heat pumps, hot water heaters, and smart home technology, catering to homeowners and property managers seeking reliable climate control systems that minimize energy consumption. In recent years, NIBE has expanded its portfolio through strategic acquisitions in the electronic components manufacturing sector. Notably, they acquired Heatron Inc. in 2016, a manufacturer of specialty heating elements, and Therm-x of California in 2019, which specializes in temperature sensors and heating solutions. These acquisitions aim to enhance NIBE's thermal sensing technologies and strengthen their position in sustainable energy solutions. Additionally, NIBE's acquisition of ASKOMA, which specializes in components for the energy market, and LS Control, a company involved in control systems, further illustrates their commitment to integrating electronic components into their product offerings.

10. Industrifonden

• Website: industrifonden.com
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1979
• Headcount: 11-50
• Number of deals in 2024: 9
• LinkedIn: industrifonden

Industrifonden is a venture capital fund based in Stockholm, Sweden, founded in 1979. The fund specializes in investing in early-stage companies, particularly in the fields of Deep Tech, Life Science, and Transformative Tech. Industrifonden provides financial support and strategic guidance to startups, helping them scale their innovative solutions. Notably, they have invested in companies like AlixLabs, a semiconductor company that raised SEK 40M to expand its operations, and Adamant Quanta, which is developing diamond-based chip-scale atomic clocks with a financing round of SEK 9.2 million. These investments highlight Industrifonden's engagement in the electronic components manufacturing sector, showcasing their commitment to fostering technological advancements in this area.

11. Lagercrantz Group AB

• Website: lagercrantz.com
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2001
• Headcount: 1001-5000
• Number of deals in 2024: 6
• LinkedIn: lagercrantz

Lagercrantz Group AB is a technology group based in Stockholm, Sweden, founded in 2001. The company operates approximately 80 subsidiaries that provide specialized technical solutions across various sectors, including electronics. Their business model emphasizes both acquisitions and organic growth, catering primarily to business customers seeking tailored technology solutions. Notable transactions include the acquisition of E-Tech Components (UK) Ltd, a distributor of cable accessories and electrical installation products, and VP Metall AS, which specializes in electrical connector systems for high voltage applications. Additionally, they acquired Norwesco AB, a company that develops and manufactures electro-mechanical products, further enhancing their portfolio in the electronic components sector. These acquisitions reflect Lagercrantz's commitment to expanding its influence and capabilities within the electronic components manufacturing industry.

12. 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, Finland, specializing in engineering solutions and software services for industrial businesses. Founded in 1983, the company aims to enhance efficiency and sustainability through innovative technologies. Their client base spans various sectors, including aerospace, automotive, and medical technology, requiring advanced technical expertise. Notably, Etteplan has made several strategic acquisitions to bolster its capabilities in areas relevant to electronic components manufacturing. For example, their acquisition of LAE Engineering GmbH, which specializes in electrical planning and industrial automation, expands their presence in the German market and strengthens their expertise in areas closely related to electronic components. Additionally, the acquisition of Syncore Technologies AB, a company focused on embedded systems, further enhances their project business in Sweden, indicating a commitment to sectors that intersect with electronic components. These transactions reflect Etteplan's strategic direction towards enhancing their technical capabilities in industries that rely on electronic components.

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 a private equity investment management firm based in Helsinki, Finland, founded in 1989. The firm specializes in a diverse range of investment strategies, including private equity, real estate, infrastructure, and natural capital investments. CapMan serves institutional investors by providing access to various investment opportunities aimed at achieving sustainable returns. Notably, CapMan has been involved in significant transactions within the electronic components sector, such as its venture funding of Silex Microsystems, which raised $25 million in 2008 and additional funding in 2006. These investments highlight CapMan's engagement in the electronic components manufacturing industry, showcasing its ability to drive value creation in this sector alongside its broader investment portfolio.

Electronic Components Manufacturing Insights: Key Investors in the Nordics

Investor	Headquarter	Size	Founded	Deals 2024
Almi	Stockholm, Stockholm, Sweden	201-500	1994	7
Indutrade Life Science	Stockholm, Stockholm, Sweden	1001-5000	1978	14
Addtech AB	Stockholm, Stockholm, Sweden	1001-5000	1906	9
EQT Group	Stockholm, Stockholm, Sweden	1001-5000	1994	30
ASSA ABLOY Group	Stockholm, Stockholm, Sweden	10001+	1994	21
Chalmers Ventures	Sweden	11-50	2015	26
NCAB Group	Sundbyberg, Stockholm, Sweden	501-1000	1993	4
Indutrade AB	Stockholm, Stockholm, Sweden	5001-10000	1978	1
NIBE Industrier AB	Markaryd, Kronoberg, Sweden	5001-10000	1952	0
Industrifonden	Stockholm, Stockholm, Sweden	11-50	1979	9
Lagercrantz Group AB	Stockholm, Stockholm, Sweden	1001-5000	2001	6
Etteplan	Espoo, Uusimaa, Finland	1001-5000	1983	3
CapMan	Helsinki, Uusimaa, Finland	51-200	1989	4

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