The renovation and remodeling industry in the Nordics is a dynamic sector focused on upgrading, restoring, and enhancing existing spaces. Companies range from specialized contractors and material suppliers to consultative firms, all eager to meet the rising demand for sustainable and smart refurbishment solutions. This industry is witnessing a surge in eco-friendly innovations, as consumers increasingly prioritize energy efficiency. Additionally, the urbanization trend in Nordic cities drives renovation projects aimed at maximizing space and improving living conditions. With government support for green initiatives, the outlook continues to strengthen, positioning this sector as a significant driver of economic activity in the region.


The roster of investors in the renovation and remodeling industry showcases an array of corporate and private equity firms, mainly headquartered in Sweden and Norway. They vary in size, from smaller entities to large multinational corporations. Many were founded in the 1990s and early 2000s, reflecting a modernization trend. The 2024 investment activities indicate a proactive approach, with investors like ASSA ABLOY Group and EQT Group making significant contributions, highlighting a competitive and advancing market aligning with sustainability efforts.


Top 15 Renovation and Remodeling 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, specializing in installation and consulting services across various sectors, including plumbing, electrical, ventilation, and industrial services. Founded in 2014, Instalco operates through a decentralized model that empowers local companies to retain their identity while leveraging shared resources and best practices. The company has made several strategic acquisitions to enhance its service offerings in the renovation and remodeling context. Notably, Instalco acquired Grums Rör AB, a company focused on heating, plumbing, and ventilation systems, which strengthens its capabilities in the renovation sector. Additionally, the acquisition of Halvard Thorsen AS, a similar company in Norway, further expands Instalco's reach and service offerings in the renovation and remodeling industry. Other acquisitions, such as Haug og Ruud VVS AS, also contribute to their portfolio in heating and plumbing services, making Instalco a significant player in the renovation and remodeling market.


2. 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, founded in 1994 and headquartered in Stockholm, Sweden, is a leading provider of security solutions specializing in locks, doors, gates, and entrance automation. The company has established itself as a leader in the security industry through a diverse product portfolio and a strong focus on innovation. Notable transactions include the acquisition of Spence Doors, a manufacturer of commercial doors in Australia, which enhances their offerings in the commercial renovation sector. They also acquired Sure-Loc, a supplier of residential locks and hardware, which directly supports the residential remodeling market. Other significant acquisitions, such as Inovadoor Portas Industriais Ltda and Amarr, further demonstrate their commitment to expanding their product range and market presence, making them a relevant player in the renovation and remodeling industry.


3. 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. With over 10,000 employees, Bravida operates as a technical service provider specializing in the installation and maintenance of electrical, heating, sanitation, ventilation, and security systems. The company serves property owners and facility managers across the Nordic region, ensuring that essential systems function reliably and efficiently. Bravida has been active in the renovation and remodeling context through several acquisitions, including:1. **J. Beese VVS and Blik A / S** - Acquired on December 21, 2020, this acquisition enhances Bravida's capabilities in the plumbing sector, which is crucial for renovation projects.2. **Karlshamns Rörmontage** - Acquired on October 30, 2018, this company specializes in process piping, further strengthening Bravida's position in heating and plumbing services.3. **AB Elektro** - Acquired on January 27, 2022, this acquisition adds to Bravida's electrical service offerings, which are essential for any remodeling project.4. **Viste & Sømme** - Acquired on January 16, 2023, this acquisition continues to expand Bravida's service portfolio in the Nordic region.5. **Minel AS** - A pending acquisition of Norway's fifth largest electrical contractor, which will significantly enhance Bravida's market presence in electrical contracting.These transactions reflect Bravida's commitment to expanding its service offerings in areas that are vital for renovation and remodeling projects.


4. 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 focuses on managing investments across various sectors, including services, green transition, industrials, and technology, with a commitment to driving growth and transformation in its portfolio companies. FSN Capital has made significant investments in the renovation and remodeling context, such as the acquisition of Håndverksgruppen, which consolidates 30 companies in the surface treatment industry, positioning it as a market leader in Norway. Additionally, their acquisition of Fibo-Trespo and Respatex International highlights their involvement in the manufacturing of panels used in construction and renovation projects. These strategic investments reflect FSN Capital's dedication to partnering with companies that cater to the renovation and remodeling market, while also seeking sustainable returns for their institutional and pension fund investors.


5. Polygon Group


Polygon Group is a corporate investor based in Stockholm, Sweden, founded in 1955. The company specializes in property damage control services, focusing on restoring properties affected by water, fire, and climate damage. They serve various industries, including facility management, education, and insurance, providing essential restoration and consulting services to mitigate property damage and ensure rapid recovery. Polygon Group has made several strategic acquisitions to enhance its capabilities in the renovation and remodeling context. Notable transactions include the acquisition of Probaco Sanering, which strengthens their fire damage restoration services in Sweden, and Aquaser, which expands their regional coverage in France. These acquisitions highlight Polygon's commitment to enhancing their restoration services, making them a significant player in the renovation and remodeling industry.


6. STARK Group

  • Website: starkgroup.dk
  • Type: Corporate
  • Headquarters: Frederiksberg, Frederiksberg, Denmark
  • Founded year: 1896
  • Headcount: 10001+
  • LinkedIn: stark-group-a-s

STARK Group is a leading building materials distributor based in Frederiksberg, Denmark, with a history dating back to 1896. The company serves professional builders across Europe, offering a wide range of heavy construction materials, including timber and eco-labelled products. STARK Group has been actively expanding its market presence through strategic acquisitions. Notably, they acquired Kakeldaxgruppen AB and Centro Kakel & Klinker AB, both tile specialists, to strengthen their position in the Swedish market. In 2022, they made a significant acquisition of three branches of Jewson from Compagnie de Saint-Gobain SA, enhancing their operations in the UK with expected net sales of approximately £2.3 billion. Additionally, their acquisition of Arnum Rør, a civil engineering specialist, and FagFlis, a Norwegian tile company, further demonstrates their commitment to expanding their offerings in the renovation and remodeling sector. STARK Group's focus on sustainability and providing builders with essential product knowledge positions them as a valuable investor in the renovation and remodeling industry.


7. PHM Group

  • Website: phmgroup.com
  • Type: Corporate
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 1989
  • Headcount: 5001-10000
  • Number of deals in 2024: 2
  • LinkedIn: phm-group

PHM Group, founded in 1989 and based in Helsinki, Uusimaa, Finland, is a corporate investor specializing in property maintenance services. The company operates across multiple countries, focusing on delivering reliable maintenance solutions to housing companies and businesses. In recent years, PHM Group has made significant acquisitions to strengthen its market position in the property maintenance sector. Notable transactions include the acquisition of Kotikatu, a leading residential property maintenance provider in Finland, which is part of their strategy to create a strong Nordic residential property maintenance group. Additionally, they acquired Trondheim Renholdsservice AS in Norway, further enhancing their presence in the Nordic market. These strategic moves highlight PHM Group's commitment to expanding its services in property maintenance, which is closely aligned with renovation and remodeling activities.


8. 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 wide range 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 relevant to the renovation and remodeling industry, such as HusCompagniet, which focuses on home construction and renovation. Additionally, their acquisition of Recover Nordic, a company involved in environmental services, may also relate to renovation projects that require sustainable practices. These transactions highlight EQT's active role in sectors that intersect with renovation and remodeling.


9. Kone

  • Website: kone.com
  • Type: Corporate
  • Headquarters: Espoo, Uusimaa, Finland
  • Founded year: 1910
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: kone

KONE Corporation, founded in 1910 and based in Espoo, Uusimaa, Finland, is a leading manufacturer in the elevator and escalator industry. The company provides innovative solutions for vertical transportation, including elevators, escalators, and automatic doors, along with maintenance and modernization services. KONE serves businesses and organizations in the construction and real estate sectors, helping them manage people flow in urban environments. Notably, KONE has made several strategic acquisitions to enhance its position in the market, including:1. **Citylift SA** (2016) - Acquired a majority stake in the Spanish elevator company, expanding its footprint in Spain.2. **City Elevator Company** (2016) - Acquired this American company to strengthen its presence in the U.S. elevator and escalator market.3. **Alois Kasper GmbH** (2017) - Acquired a German company specializing in elevator installation, maintenance, and modernization services, enhancing KONE's capabilities in Germany.4. **Metro Elevator Company, Inc.** (2002) - Acquired this U.S. company to bolster its market position in the U.S.5. **Manutenzione Installazione Ascensori** (2014) - Acquired this Italian elevator company, further expanding its reach in Europe.These transactions highlight KONE's commitment to modernization and renovation services, making them a relevant player in the renovation and remodeling industry.


10. 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 acquired Consti Yhtiöt, a company involved in renovation and remodeling, in 2008, which highlights their engagement in this sector. Additionally, they have made other investments, such as in Delete and ARCO Architecture, further showcasing their diverse portfolio while maintaining a presence in industries related to construction and renovation.


11. 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. With a strong presence in the Nordic markets, CapMan leverages its expertise to manage funds and drive value creation for its clients. Among its notable transactions, CapMan has invested in Lämpölux, a company specializing in window and door renovation solutions, and KotiSun Group, which focuses on renovations of service water, heating, and drainage systems. These investments highlight CapMan's active role in the renovation and remodeling industry, alongside its broader investment portfolio.


12. 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. Among its notable transactions, Almi has invested in Done, a vetted home repair job marketplace, which raised €628,900 in funding. This investment highlights Almi's engagement in the renovation and remodeling sector. Additionally, Almi has participated in various other funding rounds, including investments in companies like Spotscale, which, while focused on drone technology, indicates a diverse investment strategy that may include sectors related to construction and development.


13. Balco Group


Balco Group is a corporate investor based in Torpsbruk, Kronoberg, Sweden, specializing in innovative and sustainable balcony solutions. Founded in 1987, the company provides services such as glazed balconies and renovations primarily to housing cooperatives, private property owners, and construction firms. Their commitment to energy efficiency and quality significantly enhances living conditions and property values. In recent years, Balco Group has made several strategic acquisitions to strengthen its position in the renovation and remodeling sector. Notably, they acquired TBO-Haglinds AB in December 2018, which is expected to enhance their market position in Sweden's renovation segment. In 2021, they acquired Stora Fasad, further expanding their capabilities in facade solutions. Most recently, in March 2024, they acquired a 60% stake in Suomen ohutlevyasennus Oy, a Finnish turnkey and facade company, which is anticipated to positively impact their earnings. These transactions demonstrate Balco Group's active involvement in the renovation and remodeling industry, making them a relevant investor in this space.


14. Assemblin

  • Website: fi.assemblin.com
  • Type: Corporate
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2000
  • Headcount: 201-500
  • LinkedIn: assemblin

Assemblin is a corporate investor based in Helsinki, Uusimaa, Finland, founded in 2000. The company operates as a technical service provider specializing in building technology and maintenance, offering a comprehensive range of services that include installation, renovation, and maintenance of HVAC, plumbing, and electrical systems. Assemblin's clientele consists of businesses and organizations that require reliable technical solutions for their facilities. In recent years, Assemblin has made several strategic acquisitions to bolster its capabilities in the renovation and remodeling sector. Notable transactions include the acquisition of Lundqvist EL in April 2022, Essén Rör in November 2020, and Ehlin & Larsson in January 2022, which focuses on ventilation and building management systems. These acquisitions reflect Assemblin's commitment to enhancing its service offerings in the renovation and maintenance of building systems, ensuring efficient and safe environments for occupants.


15. Inwido


Inwido is a corporate investor based in Sweden, specializing in the manufacturing of customized window and door solutions. Founded in 2000, the company operates across multiple countries and serves both consumers and businesses in the construction and renovation sectors. Inwido focuses on energy efficiency and sustainability, enhancing indoor living conditions through high-quality products. The company has made significant acquisitions to strengthen its position in the renovation market, including the acquisition of the Scottish Sidey Group, the largest window and door company in Scotland, and Westcoast Windows, which specializes in high-performance composite windows. These strategic moves, along with the acquisition of CWG Choices, a British window and door company, highlight Inwido's commitment to expanding its product offerings and market presence in the renovation and remodeling industry.



Renovation and Remodeling Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
InstalcoStockholm, Stockholm, Sweden1001-500020142
ASSA ABLOY GroupStockholm, Stockholm, Sweden10001+199421
BravidaStockholm, Stockholm, Sweden10001+20000
FSN Capital PartnersOslo, Oslo, Norway51-20019990
Polygon GroupStockholm, Stockholm, Sweden5001-1000019550
STARK GroupFrederiksberg, Frederiksberg, Denmark10001+18960
PHM GroupHelsinki, Uusimaa, Finland5001-1000019892
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
KoneEspoo, Uusimaa, Finland10001+19101
Intera PartnersHelsinki, Uusimaa, Finland11-5020072
CapManHelsinki, Uusimaa, Finland51-20019894
AlmiStockholm, Stockholm, Sweden201-50019947
Balco GroupTorpsbruk, Kronoberg, Sweden501-100019872
AssemblinHelsinki, Uusimaa, Finland201-50020000
InwidoSweden1001-500020000


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