The scrap metal recycling industry in the Nordics plays a critical role in the circular economy, focusing on reclaiming and repurposing metals from discarded products. Companies range from small local operations to large corporations, engaging in collecting, sorting, and processing scrap metal. With increasing regulations around sustainability and a growing demand for recycled materials, the industry is on the rise. Innovations such as automated sorting technologies and improved logistics are paving the way for enhanced efficiency. Notably, the Nordic countries continue to set ambitious recycling targets, driving investments and growth in eco-conscious practices within this sector.


This article showcases 14 prominent investors from the Nordics in the scrap metal recycling sector, spanning various types including private equity, corporate investors, and venture capitalists. Headquartered mainly in Stockholm and Oslo, these firms vary in size, from agile startups to substantial players with thousands of employees. Established over decades, the investors carried out several deals in 2024, signifying their active engagement in recycling initiatives. With notable investments in companies such as AMCS Group and Recycla, the collaborative efforts aim to enhance recycling efficiency and sustainability in the region.


Top 14 Scrap Metal Recycling 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 provides loans, risk capital, and business development support to small and medium-sized enterprises in Sweden, aiming to enhance their growth and competitiveness. Almi has been involved in several transactions relevant to the recycling industry, including a funding round for Recycla, which raised $660k to expand its recycling operations and technology development. Additionally, Almi has invested in Bintel, a waste management startup, which has raised funds to strengthen its marketing and sales efforts, indicating a focus on the recycling sector. These transactions highlight Almi's engagement in supporting businesses that contribute to recycling and waste management initiatives.


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 private equity investment firm based in Stockholm, Sweden, founded in 1994. The firm specializes in various investment strategies, including private equity, infrastructure, real estate, growth equity, and venture capital. 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 waste management and recycling sectors, including the acquisition of AMCS Group, a company focused on waste recycling solutions, which reflects their commitment to sustainability and innovation in waste management. Additionally, their acquisition of Covanta, a waste-to-energy firm, further emphasizes their interest in sustainable practices within the waste management industry. These transactions highlight EQT's strategic focus on companies that contribute to environmental sustainability, which aligns with the goals of scrap metal recycling.


3. 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 in sectors like climate-tech and ocean-tech. Notably, Katapult has invested in RecyGlo, a waste management and recycling platform in Myanmar, which received seed funding to enhance its services and expand operations. This investment highlights Katapult's commitment to sustainability and resource management. Additionally, they have been involved in other transactions such as Solar Materials and Jiva Materials, which, while not directly related to scrap metal recycling, reflect their broader interest in innovative solutions for environmental challenges.


4. Almi Invest

  • Website: almiinvest.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2009
  • Headcount: 51-200
  • Number of deals in 2024: 3
  • LinkedIn: almi-invest

Almi Invest is a venture capital firm based in Stockholm, Sweden, founded in 2009. It specializes in providing loans and risk capital to small and medium-sized enterprises (SMEs) in Sweden, along with offering business development support and strategic guidance to help these businesses grow sustainably. Almi Invest has been involved in several transactions that align with environmental sustainability, including investments in companies like Bower, a recycling app that raised €4.1 million in a late seed round, and GreenIron, which raised SEK 100 million with the support of Almi's GreenTech fund. These investments reflect Almi's interest in promoting innovative solutions in the recycling sector, although its primary focus is broader than just scrap metal recycling.


5. BEWI Group

  • Website: bewi.com
  • Type: Corporate
  • Headquarters: Solna, Stockholm, Sweden
  • Founded year: 1980
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: bewisynbra

BEWI Group, founded in 1980 and based in Solna, Stockholm, Sweden, is a corporate investor specializing in manufacturing solutions for packaging, insulation, and automotive components. The company emphasizes sustainable practices and aims to minimize environmental impact while ensuring product safety. In line with their commitment to sustainability, BEWI Group has made strategic acquisitions to enhance their circular economy initiatives. Notably, they acquired Berga Recycling Inc. on June 9, 2022, a prominent player in the recycling materials sector, which generated sales revenues of approximately CAD 43 million in 2021. This acquisition reflects BEWI's focus on integrating recycling into their operations. Additionally, they have made other acquisitions, such as Nordic Emballasje and Aislenvas, which, while not directly related to scrap metal recycling, indicate their broader strategy of expanding their product portfolio and geographic reach in sustainable solutions.


6. Bellman Group

  • Website: bellmangroup.se
  • Type: Corporate
  • Headquarters: Solna, Stockholm, Sweden
  • Founded year: 2017
  • Headcount: 501-1000
  • Number of deals in 2024: 2
  • LinkedIn: bellman-group

Bellman Group is a corporate investor based in Solna, Stockholm, Sweden, specializing in construction and logistics services, particularly in excavation, transport, and material handling. Founded in 2017, the company operates with a focus on sustainable solutions and circular economy principles. In 2020, Bellman Group acquired SÅCAB Åkericentral AB for SEK 77 million, which allowed them to expand their capacity in the Stockholm region and gain access to a recycling facility, highlighting their commitment to recycling and sustainability. This acquisition is significant as it enhances their operational capabilities in the recycling sector, making them a player in the scrap metal recycling industry. Additionally, their other acquisitions, while primarily focused on construction machinery and civil engineering, demonstrate their growth strategy in related sectors, further supporting their relevance in the broader context of material management and recycling.


7. Fortum

  • Website: fortum.com
  • Type: Corporate
  • Headquarters: Espoo, Uusimaa, Finland
  • Founded year: 1998
  • Headcount: 5001-10000
  • LinkedIn: fortum

Fortum Oyj is an energy company based in Espoo, Uusimaa, Finland, specializing in clean energy solutions such as electricity generation, heating, cooling, and waste management. Founded in 1998, Fortum serves energy-intensive industries and organizations, providing tailored services to enhance resource efficiency and support sustainability. In 2018, Fortum expanded its operations in the scrap metal recycling sector by acquiring Fincumet's metal recycling business, which includes Fincumet Oy and Niemen Romukauppa Oy. This acquisition, which generated approximately 40 million euros in net sales and employed around 40 professionals, reflects Fortum's commitment to sustainability and resource efficiency, further solidifying its role in the recycling industry.


8. Verdane

  • Website: verdane.com
  • Type: Private Equity
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1985
  • Headcount: 51-200
  • Number of deals in 2024: 7
  • LinkedIn: verdane-capital

Verdane is a private equity investment firm based in Oslo, Norway, founded in 1985. The firm specializes in growth equity investments, particularly in technology-enabled companies, with a strong emphasis on digitalization and decarbonization trends. Verdane provides capital and hands-on support to help businesses scale and enhance their operational efficiency. Among their notable transactions, Verdane has invested in Bower, a recycling app that raised €4.1 million in a late seed round, indicating their engagement in the recycling sector. Additionally, they have invested in Blinto, an online auction platform for used heavy machinery, which may intersect with the scrap metal industry. These transactions highlight Verdane's potential interest in the recycling market, making them a relevant player in the context of scrap metal recycling.


9. Lifeline Ventures


Lifeline Ventures is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2009. The firm specializes in early-stage investments, 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 participated in a significant funding round for ZenRobotics, which raised €13 million to commercialize its ZenRobotics Recycler product, highlighting their engagement in the recycling technology space. Additionally, they have been involved with Enevo, a waste logistics solutions provider, which, while not directly focused on scrap metal recycling, operates within the broader waste management sector. This involvement in companies related to recycling and waste management underscores Lifeline Ventures' relevance to the scrap metal recycling industry.


10. Taaleri


Taaleri is an investment management firm based in Helsinki, Finland, founded in 2007. The firm specializes in managing private equity funds with a focus on sustainable investments in sectors such as bioindustry, renewable energy, and real estate. Taaleri's clients include institutional and private investors seeking impactful projects that address environmental challenges. Notably, Taaleri participated in a €6 million funding round for Rester, a Finnish company dedicated to recycling and circular economy initiatives, indicating their commitment to sustainability. Additionally, Taaleri has been involved in various funding rounds for innovative companies like Betolar and Woodly Oy, which, while not directly related to scrap metal recycling, reflect their interest in sustainable and environmentally friendly technologies. Their investment in Nordic Bioproducts Group further demonstrates their focus on bioindustry, which may intersect with recycling efforts.


11. 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, including healthcare and technology, while also emphasizing sustainability and long-term value creation. Notably, Nordic Capital has made significant strides in the environmental services sector, as evidenced by their acquisition of Sortera, a prominent player in the environmental services industry. This acquisition aims to support Sortera's international expansion and enhance its sustainable service offerings, which may include aspects of scrap metal recycling. Additionally, their acquisition of Autocirc, focused on reducing CO2 emissions in the automotive aftermarket, further demonstrates their commitment to sustainability and circular economy principles. These transactions highlight Nordic Capital's strategic interest in companies that contribute to environmental sustainability, making them a relevant player in the broader recycling landscape.


12. Nederman

  • Website: nederman.com
  • Type: Corporate
  • Headquarters: Helsingborg, Skåne, Sweden
  • Founded year: 1944
  • Headcount: 1001-5000
  • LinkedIn: nederman

Nederman is a corporate investor based in Helsingborg, Skåne, Sweden, founded in 1944. The company specializes in industrial air filtration solutions, focusing on dust, smoke, and fume extraction across various industries, including manufacturing and woodworking. Notably, Nederman has made strategic acquisitions that enhance its capabilities in related sectors. In 2015, they acquired National Conveyor Company Inc., which specializes in metal chip processing and ash handling systems, thereby strengthening their presence in the North American machining market and indicating a connection to the scrap metal recycling industry. More recently, in 2023, they acquired Aagaard A/S, a company focused on dust extraction and filter systems for the woodworking industry, further emphasizing their commitment to environmental technology. These transactions highlight Nederman's strategic positioning within industries that intersect with recycling and environmental sustainability.


13. Tomra

  • Website: tomra.com
  • Type: Corporate
  • Headquarters: Asker, Akershus, Norway
  • Founded year: 1972
  • Headcount: 5001-10000
  • Number of deals in 2024: 2
  • LinkedIn: tomra

TOMRA Systems ASA, founded in 1972 and based in Asker, Akershus, Norway, is a corporate investor specializing in technology solutions for sorting and processing across various industries, including food processing, mining, and recycling. With a workforce of 5001-10000 employees, TOMRA has made significant strides in enhancing operational efficiency and reducing waste through innovative technologies. Notably, TOMRA has been active in the recycling sector, acquiring companies that bolster their capabilities in this area. For instance, in 2016, they acquired Compac Sorting Equipment for approximately $49.3 million, which likely enhances their sorting technologies applicable in recycling processes. Additionally, in 2017, TOMRA acquired BottleCycler, a company focused on on-site glass crushing for the hospitality industry, further expanding their recycling solutions. These transactions highlight TOMRA's commitment to improving recycling processes, making them a relevant player in the scrap metal recycling industry.


14. Norsk Hydro

  • Website: hydro.com
  • Type: Corporate
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1905
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: norsk-hydro

Norsk Hydro ASA is a leading aluminium manufacturer and renewable energy provider based in Oslo, Norway. Founded in 1905, the company specializes in producing low-carbon and recycled aluminium products, catering to various sectors including automotive, construction, and packaging. Hydro is committed to sustainability and innovation, focusing on recycling and renewable energy solutions to meet the growing demand for eco-friendly materials. Recently, Hydro Aluminium AS increased its tender offer for Alumetal S.A., a move that is expected to enhance their strategic capabilities in the recycling sector. This acquisition is part of Hydro's broader strategy to strengthen its position in the aluminium market, particularly in recycling, which is crucial for sustainable development. Additionally, Hydro has been involved in funding rounds for companies like Verdox, which may also relate to innovative recycling technologies.



Scrap Metal Recycling Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
AlmiStockholm, Stockholm, Sweden201-50019947
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
KatapultOslo, Oslo, Norway11-5020178
Almi InvestStockholm, Stockholm, Sweden51-20020093
BEWI GroupSolna, Stockholm, Sweden1001-500019801
Bellman GroupSolna, Stockholm, Sweden501-100020172
FortumEspoo, Uusimaa, Finland5001-1000019980
VerdaneOslo, Oslo, Norway51-20019857
Lifeline VenturesHelsinki, Uusimaa, Finland1-10200914
TaaleriHelsinki, Uusimaa, Finland51-20020070
Nordic CapitalStockholm, Stockholm, Sweden201-500198910
NedermanHelsingborg, Skåne, Sweden1001-500019440
TomraAsker, Akershus, Norway5001-1000019722
Norsk HydroOslo, Oslo, Norway10001+19051


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