The geotechnical engineering industry in the Nordics focuses on understanding soil and rock behavior to ensure safe and effective infrastructure projects. Companies in this sector offer services ranging from site investigations and testing to the design and implementation of solutions that support construction and environmental projects. As sustainability becomes a priority, there's a growing emphasis on eco-friendly techniques and innovative materials, paving the way for advancements in geotechnical practices. With investment in renewable energy and infrastructure on the rise, geotechnical engineering is set for growth, building the foundation for future developments across the Nordic region.


The investor landscape in the Nordics features a mix of corporate and private equity investors. Most are headquartered in Sweden or Finland, ranging in size from small firms to large corporations with thousands of employees. Founded between the early 1900s and 2018, these investors vary in their investment strategies. In 2024 alone, they collectively executed over 75 significant deals. Notable participants include Indutrade Life Science and Fronterra Capital Partners, which demonstrate the region's increasing interest and involvement in geotechnical engineering investments.


Top 15 Geotechnical Engineering Investors in the Nordics


1. Equinor

  • Website: equinor.com
  • Type: Corporate
  • Headquarters: Stavanger, Rogaland, Norway
  • Founded year: 1972
  • Headcount: 10001+
  • Number of deals in 2024: 6
  • LinkedIn: equinor

Equinor ASA is a public entity based in Stavanger, Norway, operating primarily in the energy sector with a focus on oil, gas, and renewable energy. Founded in 1972, Equinor has a workforce of over 10,000 employees and is committed to achieving net-zero emissions by 2050. The company serves a diverse customer base, including governments and industries, providing energy solutions that address climate challenges while ensuring energy security. Equinor's venture arm, Equinor Technology Ventures, has been involved in several relevant transactions, such as leading an equity investment in Upwing Energy to accelerate the development of downhole gas compressors, which are crucial for efficient energy extraction. Additionally, their participation in the Series A funding of Infravision, which focuses on field robotics for powerline stringing and grid monitoring, showcases their interest in innovative technologies that may require geotechnical insights. These investments highlight Equinor's strategic approach to integrating advanced technologies in their operations, making them a significant player in the intersection of energy and geotechnical engineering.


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 investment firm based in Stockholm, Sweden, founded in 1994. The firm specializes in a variety of 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 acquisitions that align with infrastructure and engineering, such as the acquisition of Innovyze, a firm specializing in water infrastructure analytics, which is crucial for geotechnical applications. Additionally, their acquisition of Aker Solutions, a company involved in engineering and technology services for the energy sector, further highlights their engagement in sectors that may require geotechnical engineering expertise. These transactions reflect EQT's commitment to investing in areas that intersect with geotechnical engineering, making them a relevant player in this field.


3. 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 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 maintains a decentralized structure that allows its subsidiaries to operate independently while benefiting from the group's resources. Notably, Indutrade has made significant strides in the geotechnical engineering sector through its acquisitions. In 2022, it acquired Ingenjörsfirman Geotech AB, a company specializing in geotechnical field equipment, which has annual sales of approximately SEK 100 million. This acquisition was integrated into Indutrade's Business Area Industrial Components. Additionally, Indutrade acquired Geomek Stockholms Geomekaniska AB in 2015 and Geoteam in 2024, further solidifying its presence in the geotechnical engineering market. These strategic acquisitions highlight Indutrade's commitment to expanding its portfolio in the geotechnical field, making it a significant player in this industry.


4. Epiroc Construction Tools


Epiroc Construction Tools, founded in 2018 and based in Kalmar, Sweden, specializes in mining and construction equipment. The company offers a diverse range of products, including drill rigs and rock excavation tools, and provides services such as maintenance and digital solutions aimed at enhancing productivity and safety. Epiroc has been actively acquiring companies to bolster its offerings in relevant sectors. Notable transactions include the acquisition of GeoScan, an Australian digital core imaging business that enhances Epiroc's capabilities in hyperspectral scanning and data processing, which are crucial for geotechnical investigations. Additionally, the acquisition of Yieldpoint in 2024 further demonstrates Epiroc's commitment to expanding its portfolio in areas that intersect with geotechnical engineering. These strategic moves position Epiroc as a significant player in the geotechnical engineering landscape, particularly in relation to mining and construction applications.


5. Rejlers

  • Website: rejlers.com
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1942
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: rejlers

Rejlers is a corporate investor based in Stockholm, Sweden, founded in 1942. As an engineering consultancy, Rejlers offers a diverse range of services, including project management, digital solutions, and sustainable energy consulting. They cater to both businesses and public authorities across sectors such as energy and infrastructure. In recent years, Rejlers has made several strategic acquisitions to bolster their service offerings. Notably, they acquired Karl Knudsen AS, a Norwegian consulting company known for its expertise in building and civil engineering, which enhances their capabilities in the Trondheim region. Additionally, their acquisition of HydroTerra Ingenjorer and the public takeover bid for Eurocon Consulting AB further demonstrate their commitment to expanding their engineering services. These transactions indicate Rejlers' active role in sectors that intersect with geotechnical engineering, making them a relevant player in this field.


6. Multiconsult

  • Website: multiconsult.no
  • Type: Corporate
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1908
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: multiconsult

Multiconsult ASA, founded in 1908 and based in Oslo, Norway, is a prominent consulting and engineering firm specializing in a wide range of services, including construction, renewable energy, and environmental management. The firm serves a diverse clientele, including government agencies and private developers, by providing expertise in project planning, engineering solutions, and compliance with environmental regulations. In recent years, Multiconsult has made several strategic acquisitions to enhance its service offerings. Notably, they acquired A-Lab AS in June 2023, which could bolster their capabilities in architectural and engineering design, potentially including geotechnical aspects. Additionally, their acquisition of Roar Jørgensen AS in November 2022 may further strengthen their position in the construction sector, where geotechnical engineering plays a vital role. These transactions indicate Multiconsult's commitment to expanding its expertise and services in areas that intersect with geotechnical engineering, making them a relevant player in this field.


7. Fabricom AS

  • Website: endur.no
  • Type: Corporate
  • Headquarters: Stavanger, Rogaland, Norway
  • Founded year: 1992
  • Headcount: 501-1000
  • Number of deals in 2024: 1
  • LinkedIn: fabricomas

Fabricom AS is a corporate investor based in Stavanger, Rogaland, Norway, and is part of Endúr ASA, a company specializing in marine infrastructure and aquaculture solutions. Founded in 1992, Endúr ASA has been actively involved in constructing and maintaining marine structures. In 2024, Fabricom AS, through its subsidiary BMO Entreprenør AS, acquired Norsk Bergsikring AS, which focuses on infrastructure rehabilitation, particularly in rockfall and landslide protection, for approximately NOK 20 million. This acquisition enhances their capabilities in geotechnical engineering applications. Additionally, they have made significant investments in other infrastructure companies, such as Repstad Anlegg AS and Marcon, further solidifying their position in sectors that intersect with geotechnical engineering.


8. 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 several acquisitions in the geotechnical engineering sector, including Sitowise Oy and Kreate, both of which are involved in engineering services that encompass geotechnical engineering. Additionally, they acquired Rototec, further expanding their portfolio in related fields. These transactions highlight Intera Partners' commitment to investing in companies that contribute to the geotechnical engineering industry.


9. Ramboll

  • Website: ramboll.com
  • Type: Corporate
  • Headquarters: Copenhagen, Denmark
  • Founded year: 1945
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: ramboll

Ramboll Group A/S is a global engineering, architecture, and consultancy company based in Copenhagen, Denmark, founded in 1945. With over 18,000 employees operating in more than 35 countries, Ramboll provides sustainable solutions across various sectors, including energy, environment, and infrastructure. The company has been actively expanding its capabilities through strategic acquisitions, such as the acquisition of Web Structures, a design and engineering consultancy, which enhances their presence in Southeast Asia. Additionally, their acquisition of Wandschneider + Gutjahr, a waste-to-energy engineering consultancy, and K2 Management, further demonstrates their commitment to sustainable transformation in engineering practices. While these transactions primarily focus on energy and waste management, they indicate Ramboll's broader engineering expertise, which likely includes geotechnical engineering as part of their infrastructure services.


10. 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 niche markets, including Electrify, Control, and TecSec. Their business model focuses on acquisitions and organic growth, primarily catering to business customers seeking tailored technology solutions. A notable transaction in their portfolio is the acquisition of Geonor AS, a Norwegian company specializing in geotechnical, hydrological, meteorological, and environmental equipment, which was announced on October 29, 2021. This acquisition is expected to positively impact Lagercrantz's earnings per share and highlights their strategic interest in the geotechnical engineering sector. Other transactions, such as the acquisition of Nordic Road Safety and Cue Dee AB, while significant, do not pertain directly to geotechnical engineering, reinforcing that Lagercrantz's relevance in this field is primarily through their investment in Geonor AS.


11. Juuri Partners

  • Website: juuripartners.com
  • Type: Corporate
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn:

Juuri Partners is a private equity firm based in Helsinki, Uusimaa, Finland, founded in 2015. The firm specializes in managing investments in growth-oriented Finnish companies, providing financial support and strategic guidance to help these businesses expand and succeed in their respective markets. Juuri Partners focuses on fostering sustainable growth through partnerships and investment management. Notably, they acquired a minority stake in Taratest, a family-owned business that specializes in geotechnical services and environmental surveys for the construction sector, in May 2022. This investment highlights their commitment to the geotechnical engineering industry. Additionally, they have been involved in other transactions, such as an investment in Hydroline, although this company is not directly related to geotechnical engineering. Overall, Juuri Partners' investment in Taratest positions them as a relevant player in the geotechnical engineering sector.


12. 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 acquired NYAB in December 2022 for over $52 million, a company that operates in the construction and engineering sector, which may encompass geotechnical engineering services. Additionally, CapMan has been involved in other acquisitions such as Aro Systems Oy and Ljunghäll, although these companies do not have a direct link to geotechnical engineering. Overall, while CapMan's investment activities suggest a potential interest in sectors related to geotechnical engineering, their primary focus remains broader, and specific geotechnical engineering investments are not clearly identified.


13. 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 technology solutions provider based in Stockholm, Sweden, specializing in high-tech products and services 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, in May 2023, Addtech acquired a 90% stake in Feritech Global, a company focused on bespoke technical solutions for the geotechnical subsea sector, marking a significant step into the geotechnical engineering domain. This acquisition aims to bolster Addtech's growth in the offshore wind power industry, which is closely tied to geotechnical engineering. Additionally, Addtech's ongoing acquisitions in related fields further indicate their commitment to expanding their technological capabilities, although not all transactions are directly linked to geotechnical engineering.


14. Nordea

  • Website: nordea.com
  • Type: Corporate
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 1820
  • Headcount: 10001+
  • Number of deals in 2024: 6
  • LinkedIn: nordea

Nordea Bank Abp is a prominent financial services company based in Helsinki, Uusimaa, Finland, founded in 1820. It offers a comprehensive range of banking and investment management services to individual and corporate clients, with a strong presence in the Nordic region. In 2024, Nordea was involved in six investments, primarily focusing on debt financing. Notably, it participated in significant transactions with construction firms such as Veidekke, which raised approximately $88.8 million in post-IPO debt, Peab, which secured around $697.8 million, and NCC, which raised about $428 million. These transactions highlight Nordea's role in supporting companies that are likely engaged in geotechnical engineering projects, thereby linking its investment activities to the geotechnical engineering sector.


15. Nordisk Bergteknik AB (publ)


Nordisk Bergteknik AB (publ) is a corporate investor based in Gothenburg, Västra Götaland, Sweden, founded in 2016. The company specializes in rock management and foundation services, primarily serving the infrastructure sector. They focus on sustainable practices and modern techniques to support the development of infrastructure in Sweden, Norway, and Finland. In recent years, Nordisk Bergteknik has made several strategic acquisitions to enhance its capabilities in geotechnical engineering. Notable transactions include the acquisition of Berg & Betongförstärkning on September 23, 2022, which strengthens their foundation reinforcement services, and the acquisition of Snemyr Betongsprøyting on June 21, 2022, further expanding their expertise in concrete spraying. Additionally, they acquired Broderna Anderssons Grus on January 31, 2022, which likely complements their operations in the geotechnical field. These transactions highlight their active role in the geotechnical engineering industry.



Geotechnical Engineering Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
EquinorStavanger, Rogaland, Norway10001+19726
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
Indutrade Life ScienceStockholm, Stockholm, Sweden1001-5000197814
Epiroc Construction ToolsKalmar, Kalmar, Sweden10001+20183
RejlersStockholm, Stockholm, Sweden1001-500019421
MulticonsultOslo, Oslo, Norway1001-500019081
Fabricom ASStavanger, Rogaland, Norway501-100019921
Intera PartnersHelsinki, Uusimaa, Finland11-5020072
RambollCopenhagen, Denmark10001+19453
Lagercrantz Group ABStockholm, Stockholm, Sweden1001-500020016
Juuri PartnersHelsinki, Uusimaa, Finland11-5020151
CapManHelsinki, Uusimaa, Finland51-20019894
Addtech ABStockholm, Stockholm, Sweden1001-500019069
NordeaHelsinki, Uusimaa, Finland10001+18206
Nordisk Bergteknik AB (publ)Gothenburg, Västra Götaland, Sweden501-100020160


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