The pharmaceutical packaging industry in the Nordics is built on providing vital solutions for medication safety and integrity. Companies in this arena produce containers, seals, and delivery systems that protect pharmaceuticals during transport and use. Significant emphasis is placed on innovation, with a growing trend toward eco-friendly materials and smart packaging that enhances product traceability. Market players include manufacturers of primary and secondary packaging, alongside firms specializing in regulatory compliance. As healthcare needs evolve, investments are shifting toward smart packaging technologies that offer enhanced functionality, ensuring the Nordics remain competitive in this fast-paced market.


The investor landscape in the Nordics features a mix of corporate and venture capital firms, primarily headquartered in cities like Stockholm and Hellerup. These firms vary in size, with both large corporate entities and smaller venture funds represented. Founded between 1906 and 1999, they collectively completed over 150 deals in 2024. Noteworthy investors include EQT Group and Almi, reflecting a robust engagement in the pharmaceutical packaging sector, aimed at fostering innovation and growth.


Top 14 Pharmaceutical Packaging Investors in the Nordics


1. Novo Holdings

  • Website: novoholdings.dk
  • Type: Venture Capital
  • Headquarters: Hellerup, Denmark
  • Founded year: 1999
  • Headcount: 51-200
  • Number of deals in 2024: 45
  • LinkedIn: novo-a-s

Novo Holdings A/S is a not-for-profit investment firm based in Hellerup, Denmark, focused on managing the assets of the Novo Nordisk Foundation. Founded in 1999, it invests in life science companies at various stages of development, providing capital and strategic support to enhance healthcare solutions. In recent years, Novo Holdings has made several notable acquisitions in the pharmaceutical sector, including the acquisition of Catalent Pharma Solutions for $16.5 billion, which is a key player in contract manufacturing and packaging for pharmaceuticals. They also acquired The Ritedose Corporation, a sterile pharmaceutical manufacturer, aimed at improving the delivery of life-saving drugs, which involves critical packaging processes. Furthermore, their acquisition of Xellia Pharmaceuticals, which focuses on research and development and global manufacturing capabilities, highlights their commitment to enhancing pharmaceutical production, including packaging. These transactions illustrate Novo Holdings' active role in the pharmaceutical packaging industry.


2. 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 by offering tailored financial solutions and guidance. In recent years, Almi has participated in various funding rounds for innovative startups, including those in the healthcare sector. Notably, Almi Invest backed Amferia, a startup that is developing a wound care dressing with a patented hydrogel designed to combat infections, which aligns with the pharmaceutical packaging context. Additionally, Almi's involvement in other healthcare-related startups suggests a broader interest in the medical field, which may include pharmaceutical packaging solutions.


3. 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. In recent years, EQT has made significant investments in the pharmaceutical packaging industry, including the acquisition of SHL Medical, a Swiss drug delivery provider, and va-Q-tec AG, which focuses on thermal packaging solutions for pharmaceuticals. Additionally, their acquisition of Fertin Pharma, a manufacturer of medicated chewing gum, further highlights their commitment to the pharmaceutical sector. These strategic investments reflect EQT's focus on enhancing their portfolio with companies that play a crucial role in pharmaceutical packaging and delivery.


4. 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 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 several strategic acquisitions relevant to the pharmaceutical packaging industry, including Verbeeck Packaging NV, which specializes in packaging solutions, and Tecno Plast, known for its single-use tubing sets and hoses, which are critical in pharmaceutical applications. These transactions highlight Indutrade's commitment to expanding its footprint in the pharmaceutical packaging market.


5. Nordic Capital

  • Website: nordiccapital.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1989
  • Headcount: 201-500
  • Number of deals in 2024: 10
  • LinkedIn: nordic-capital

Nordic Capital is a private equity firm based in Stockholm, Sweden, founded in 1989. The firm specializes in investments across various sectors, with a strong emphasis on healthcare and technology. Nordic Capital partners with management teams to drive growth and operational improvements in its portfolio companies, focusing on creating long-term value and sustainability. Notable transactions include the acquisition of a 25% stake in Equashield Medical, a medical device company, and a majority stake in IntegriChain, a pharma tech firm. These investments highlight Nordic Capital's commitment to the healthcare sector, which may intersect with pharmaceutical packaging through technology and supply chain solutions.


6. Chalmers Ventures


Chalmers Ventures is a venture builder and tech investor based in Sweden, founded in 2015. They focus on deep tech innovations and support researchers and entrepreneurs in commercializing their technology through various programs that provide business guidance, financing, and community networking. In 2024 alone, they have made 26 investments, showcasing their active engagement in the startup ecosystem. Notably, they have invested in Amferia, a startup that has developed a patented hydrogel for wound care that actively combats infections, which is relevant to the pharmaceutical sector. Their investments in Amferia, including a significant seed funding round, highlight their commitment to supporting innovative healthcare solutions that could intersect with pharmaceutical packaging needs.


7. 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 firm specializes in investing in early-stage companies, particularly in the fields of Deep Tech, Life Science, and Transformative Tech. With a focus on creating long-term value through partnerships with passionate founders, Industrifonden provides both financial support and strategic guidance to startups. Notably, they have been involved in several transactions relevant to the life sciences sector, including investments in Calliditas Therapeutics, which raised funds in both Series C and Venture rounds, and Gyros, which received support for the commercialization of its technology. These transactions highlight Industrifonden's commitment to fostering innovation in the life sciences, which may encompass pharmaceutical packaging solutions.


8. Elanders

  • Website: elanders.com
  • Type: Corporate
  • Headquarters: Gothenburg, Västra Götaland, Sweden
  • Founded year: 1908
  • Headcount: 5001-10000
  • Number of deals in 2024: 2
  • LinkedIn: elanders

Elanders is a logistics and printing company founded in 1908, headquartered in Gothenburg, Sweden. With a workforce of 5,001 to 10,000 employees, Elanders offers integrated solutions within supply chain management across various industries, including Automotive, Electronics, and Health Care. The company has made several strategic acquisitions to enhance its market position and expand its service offerings. Notably, Elanders acquired Schmid Druck in December 2015, a company specializing in advanced packaging and unique print solutions, which aligns with their strategy to grow in the niche packaging products segment. Additionally, their acquisition of Mentor Media and Kammac further strengthens their logistics capabilities, which can support pharmaceutical packaging needs. Elanders' focus on enhancing operational efficiency for business customers positions them as a relevant player in the pharmaceutical packaging space.


9. 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 is a corporate investor based in Stockholm, Sweden, specializing in technology solutions across various sectors, including automation, electrification, energy, industrial solutions, and process technology. Founded in 1906, Addtech serves OEM manufacturers and end-users, enhancing operational efficiency and sustainability through innovative solutions. Notably, Addtech has made strategic acquisitions in the pharmaceutical sector, including Gotapack International AB, which focuses on equipment and services for the pharmaceutical industry, and Thurne Teknik AB, a supplier of components and systems for the chemical and pharmaceutical industries. These transactions highlight Addtech's commitment to expanding its footprint in the pharmaceutical packaging and processing market, indicating their relevance as an investor in this field.


10. 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 driving growth and transformation in its portfolio companies. FSN Capital primarily partners with institutional investors and pension funds seeking sustainable returns. Notably, FSN Capital has made significant strides in the pharmaceutical sector, particularly with their acquisition of Adragos Pharma Group, a B2B CDMO for pharmaceuticals, in 2021. This acquisition highlights their commitment to the pharmaceutical industry and positions them as a player in the pharmaceutical packaging space. Additionally, their involvement in other sectors, such as B2B distribution through companies like OptiGroup, showcases their diverse investment strategy while still maintaining a foothold in industries relevant to pharmaceuticals.


11. Lifeline Ventures


Lifeline Ventures is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2009. The firm specializes in early-stage investments in startups, providing financial backing and advisory services to entrepreneurs across various sectors. Lifeline Ventures aims to support resilient founders from the inception of their ventures. Notably, they have participated in funding rounds for companies like Sulapac, which raised €15 million to scale up its material production and develop new formulas, indicating a focus on sustainable packaging solutions. Additionally, they have invested in other startups such as CurifyLabs and Origin by Ocean, showcasing their diverse investment portfolio while maintaining a connection to innovative packaging solutions.


12. ADDvise

  • Website: addvisegroup.com
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1989
  • Headcount: 501-1000
  • LinkedIn: addvisegroup

ADDvise Group AB is a corporate investor based in Stockholm, Sweden, specializing in advanced medical technology and laboratory solutions. Founded in 1989, the company operates with a decentralized business model, allowing its subsidiaries to maintain entrepreneurial spirit while benefiting from corporate support. In recent years, ADDvise has made several significant acquisitions that highlight its focus on the pharmaceutical and biopharmaceutical sectors. Notably, they acquired MRC Systems, a cleanroom manufacturer for the pharmaceutical industry, for approximately $8 million, and Labplan Ltd., a distributor of advanced instruments for the life sciences and biopharmaceutical industry, for an initial cash consideration of EUR 13.3 million. These transactions demonstrate ADDvise's commitment to enhancing its portfolio in the pharmaceutical packaging and related fields, making it a relevant player in this industry.


13. Investor AB

  • Website: investorab.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1916
  • Headcount: 51-200
  • Number of deals in 2024: 4
  • LinkedIn: investor-ab

Investor AB is an investment holding company based in Stockholm, Sweden, founded in 1916. It manages a diverse portfolio of high-quality global companies, focusing on long-term investments and providing strategic support primarily in the pharmaceuticals, telecommunications, and industrial sectors. Notably, Investor AB has been involved in several transactions relevant to the pharmaceutical industry, including the acquisition of Active Biotech in 2013 for over $42 million, which indicates a strong commitment to the pharmaceutical sector. Additionally, their investment in Gyros, which raised $29.5 million in a Series B funding round, further highlights their engagement in the pharmaceutical space. While the specific transactions listed do not explicitly mention pharmaceutical packaging, the company's overarching focus on pharmaceuticals suggests a potential interest in related areas, including packaging solutions.


14. HEXPOL Compounding

  • Website: hexpol.com
  • Type: Corporate
  • Headquarters: Rekekroken, Skåne, Sweden
  • Founded year: 1893
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: hexpol-compounding

HEXPOL Compounding, founded in 1893 and based in Rekekroken, Skåne, Sweden, is a corporate investor specializing in polymer manufacturing, particularly advanced polymer compounding and engineered products. The company serves a diverse range of industries, including automotive, healthcare, and construction, providing high-quality materials such as rubber and thermoplastic compounds. HEXPOL has been active in expanding its capabilities through strategic acquisitions, including Excel Polymers, LLC for approximately $220 million in 2010, which enhanced its position as a leading elastomer compounder. In 2023, they acquired Star Thermoplastic Alloys and Rubbers for $26.5 million, allowing them to enter the American TPE market. Additionally, their acquisition of RheTech LLC for approximately $112 million in 2015 aimed to bolster their polymer compounding capabilities. These transactions reflect HEXPOL's commitment to innovation and sustainability, making them a potential player in the pharmaceutical packaging sector, particularly in providing advanced materials for healthcare applications.



Pharmaceutical Packaging Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
Novo HoldingsHellerup, Denmark51-200199945
AlmiStockholm, Stockholm, Sweden201-50019947
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
Indutrade Life ScienceStockholm, Stockholm, Sweden1001-5000197814
Nordic CapitalStockholm, Stockholm, Sweden201-500198910
Chalmers VenturesSweden11-50201526
IndustrifondenStockholm, Stockholm, Sweden11-5019799
ElandersGothenburg, Västra Götaland, Sweden5001-1000019082
Addtech ABStockholm, Stockholm, Sweden1001-500019069
FSN Capital PartnersOslo, Oslo, Norway51-20019990
Lifeline VenturesHelsinki, Uusimaa, Finland1-10200914
ADDviseStockholm, Stockholm, Sweden501-100019890
Investor ABStockholm, Stockholm, Sweden51-20019164
HEXPOL CompoundingRekekroken, Skåne, Sweden1001-500018931


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