The residential construction industry in the Nordics is characterized by a strong demand for safe, sustainable, and efficient housing. Companies of various sizes participate, ranging from large construction firms to specialized product manufacturers focused on energy-efficient solutions. This sector is continually innovating, with a significant shift towards eco-friendly materials and smart home technologies. The increasing emphasis on sustainability, combined with urbanization trends, positions the industry for robust growth. As a result, investment opportunities are blossoming, contributing to more dynamic building practices that meet modern living standards across Denmark, Finland, Norway, and Sweden.


The investors listed here represent a blend of corporate and private equity firms based in key Nordic cities like Stockholm, Oslo, and Copenhagen. Founded between 1856 and 2014, their sizes range from small teams to international organizations employing thousands. Each has made strategic investments in the residential construction sector throughout 2024, reflecting significant activity. Collectively, they have participated in over 90 investment deals, emphasizing their commitment to shaping the future of residential construction in the region.


Top 15 Residential Construction 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 service company based in Stockholm, Sweden, specializing in installation and consulting in plumbing, electrical, ventilation, and industrial services. Founded in 2014, Instalco operates through a decentralized model, allowing local companies to maintain their identity while benefiting from shared resources and best practices. The company has made several strategic acquisitions to enhance its capabilities in the construction sector. Notably, Instalco acquired VVS Installator in 2016, which strengthens its plumbing services. In 2023, they acquired Halvard Thorsen AS, a company focused on heating, plumbing, and ventilation, further solidifying their position in the residential construction market. Additionally, their acquisition of Elektro VÄSterbotten Ab in 2023 and previous acquisitions like Klimatror and Rorgruppen demonstrate their commitment to expanding their service offerings in the construction industry, particularly in areas critical to residential projects.


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. With a workforce exceeding 10,000 employees, the company has established a strong presence in the security industry through innovation and strategic acquisitions. Notably, ASSA ABLOY has made significant investments in companies that enhance its offerings in the residential construction market. For instance, the acquisition of Sure-Loc in May 2021, a Utah-based supplier of residential locks, demonstrates their commitment to expanding their residential product line. Additionally, their acquisition of Amarr, a company focused on garage doors, further solidifies their position in the residential sector. These transactions reflect ASSA ABLOY's strategy to grow its residential business and enhance security solutions for homeowners, making them a relevant investor in the residential construction industry.


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. Among their notable transactions, EQT acquired HusCompagniet on July 2, 2015, which is a significant player in the residential construction market. This acquisition highlights EQT's strategic interest in the residential sector. Additionally, EQT has made various other acquisitions across different industries, showcasing their broad investment approach, but their involvement with HusCompagniet specifically positions them within the residential construction context.


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, while catering primarily to institutional investors and pension funds seeking sustainable returns. Notably, FSN Capital has made significant investments in the residential construction sector, including the acquisition of HusCompagniet, a prominent player in the residential construction market, in January 2011. This acquisition highlights their commitment to the sector. Additionally, they have been involved in transactions with companies like Fibo-Trespo, which, while primarily a panel manufacturer, operates within the construction materials space, further indicating their engagement with the construction industry. Their strategy of partnering with companies to drive growth and transformation aligns with the dynamics of the residential construction market, making them a relevant investor in this field.


5. 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, aiming to enhance their growth and competitiveness through tailored financial solutions. Almi has been involved in several transactions that highlight its engagement with companies in the residential construction and home improvement sectors. Notably, it participated in a funding round for Done, a vetted home repair job marketplace, which raised €628,900 in December 2022. Additionally, Almi has invested in companies like IsoTimber and Grundels Fönstersystem, which are related to construction materials and systems. These transactions suggest that while Almi's investment strategy is diverse, it does include a focus on the residential construction industry, making it a relevant player in this space.


6. 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 been involved in significant transactions within the residential construction context, such as the acquisition of Consti Yhtiöt, a company engaged in construction and renovation services, and Normek Group, which operates in the construction sector. These transactions highlight Intera Partners' active role in the residential construction industry, alongside their broader investment strategy.


7. 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. Among its notable transactions, CapMan has invested in KotiSun Group, a Finnish company focused on renovations of service water, heating, and drainage systems, which are essential components of residential construction. Additionally, CapMan acquired Lämpölux, a company specializing in window and door renovation solutions, further emphasizing its involvement in the residential construction sector. Other acquisitions, such as Aro Systems Oy and NYAB, also reflect CapMan's strategy to enhance its portfolio in related industries, reinforcing its relevance in the residential construction market.


8. 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, providing reliable maintenance solutions to housing companies and businesses. In recent years, PHM Group has strategically expanded its presence in the residential property maintenance sector through several key acquisitions. Notably, in June 2020, they acquired Kotikatu, a leading residential property maintenance services provider in Finland, aiming to create a strong Nordic residential property maintenance group. Additionally, in June 2021, they acquired Trondheim Renholdsservice AS, which specializes in residential property maintenance in Norway. These transactions highlight PHM Group's commitment to enhancing its service offerings in the residential sector, making it a significant player in the residential construction context.


9. Accent Equity


Accent Equity is a private equity firm based in Stockholm, Sweden, founded in 1994. The firm specializes in investments in private Nordic companies, focusing on enhancing the value of its portfolio through strategic management and investment to create sustainable growth and superior returns. Accent Equity has been involved in several significant transactions relevant to the residential construction sector. Notably, they acquired Lunawood, a leader in thermally modified timber, which is crucial for residential building projects, and S:t Eriks, a company in the building materials sector. Additionally, their acquisition of Linotol and C Holmqvist Entreprenad aims to create a growth platform in industrial flooring solutions, which can also be relevant to residential construction. These transactions highlight Accent Equity's engagement in sectors that support residential construction, making them a noteworthy investor in this space.


10. Nordic Investment Bank

  • Website: nib.int
  • Type: Corporate
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 1976
  • Headcount: 201-500
  • Number of deals in 2024: 19
  • LinkedIn: nordic-investment-bank

Nordic Investment Bank (NIB) is a public entity established in 1976, headquartered in Helsinki, Uusimaa, Finland. It provides sustainable financing solutions for projects in the Nordic and Baltic regions, offering a range of loan products including corporate, sovereign, and sustainability-linked loans. NIB aims to enhance productivity and environmental benefits through its financing. In recent years, NIB has been involved in several significant transactions that may relate to the residential construction sector. For instance, it provided debt financing to Bonnier Fastigheter, which raised $19,437,687 in September 2024, and to Atrium Ljungberg, which raised $88,627,673 in March 2020. These companies are known for their involvement in real estate development, including residential projects, indicating NIB's potential role in supporting residential construction initiatives.


11. Altor Equity Partners

  • Website: altor.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2003
  • Headcount: 51-200
  • Number of deals in 2024: 6
  • LinkedIn: altor

Altor Equity Partners is a private equity investment management firm based in Stockholm, Sweden, founded in 2003. The firm specializes in providing consulting services across various sectors, including technology and consumer products, with a focus on enhancing operational efficiency and sustainable growth for its partners. Notably, Altor has made significant investments in the residential construction context, such as the acquisition of FH Gruppen AS, a prominent manufacturer of holiday homes in Norway, which highlights their commitment to the residential sector. Additionally, Altor's investment in Aira, a company that is accelerating the electrification of residential heating in Europe, further underscores their involvement in enhancing residential living environments. These transactions reflect Altor's strategic interest in the residential construction industry, alongside their broader investment portfolio.


12. Lindab Group

  • Website: lindab.com
  • Type: Corporate
  • Headquarters: Grevie, Skåne, Sweden
  • Founded year: 1959
  • Headcount: 1001-5000
  • Number of deals in 2024: 6
  • LinkedIn: lindab

Lindab Group, founded in 1959 and based in Grevie, Skåne, Sweden, is a corporate investor specializing in ventilation systems and building products. With a workforce of 1001-5000 employees, Lindab provides a wide range of solutions aimed at improving energy efficiency and creating healthy indoor climates for both residential and commercial properties. Their customer base includes construction companies and contractors who rely on their innovative products for various building projects. Notable transactions include the acquisition of Profilplåt, a Swedish roof manufacturer, which enhances Lindab's product range and delivery capacity in the roofing sector, crucial for residential construction. Additionally, their acquisition of R-Vent, a leading manufacturer of ventilation products in the Netherlands, further solidifies their position in the market, allowing them to cater to the growing demand for efficient ventilation solutions in residential buildings. These strategic acquisitions reflect Lindab's commitment to expanding its influence in the residential construction industry.


13. 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 is a leading manufacturer in the elevator and escalator industry, founded in 1910 and headquartered in Espoo, Uusimaa, Finland. With over 10,000 employees, KONE specializes in providing 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 strengthen its position in the market, including the acquisition of Citylift SA, a Spanish elevator company, in 2016, and Express Elevators Ltd. in the UK in 2015. These transactions highlight KONE's commitment to enhancing its offerings in the residential construction context, as elevators and escalators are critical components in residential buildings.


14. Inwido


Inwido is a corporate investor based in Sweden, founded in 2000, and operates within the manufacturing sector, specializing in customized window and door solutions. The company serves both consumers and businesses in the construction and renovation sectors, emphasizing energy efficiency and sustainability in its products. Inwido has made significant strides in expanding its market presence through strategic acquisitions, including the purchase of the Scottish Sidey Group, the largest window and door company in Scotland, and Westcoast Windows, which specializes in high-performance composite windows. These acquisitions not only enhance Inwido's product offerings but also strengthen its position in the residential construction market. Other notable transactions include the acquisition of Dekko Window Systems, which allows for investment in development and expansion, and CWG Choices, a British company that enhances Inwido's presence in the PVCu windows and doors market. Through these transactions, Inwido demonstrates its commitment to growth and innovation in the residential construction industry.


15. Polaris Private Equity


Polaris Private Equity is a private equity firm based in Copenhagen, Denmark, founded in 1998. The firm specializes in investment management, focusing on supporting mid-sized companies in the Nordic region through tailored investment strategies that include private equity, flexible capital, and public equity. Polaris partners with management teams to drive growth and operational improvements, helping these companies realize their full potential. Notably, Polaris has made significant investments in the residential construction sector, including the acquisition of Fiskarhedenvillan Group, a company known for its residential building solutions, and Skånska Byggvaror, which specializes in building materials for residential construction. These strategic acquisitions highlight Polaris's commitment to enhancing the residential construction landscape while also diversifying their investment portfolio across various industries.



Residential Construction Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
InstalcoStockholm, Stockholm, Sweden1001-500020142
ASSA ABLOY GroupStockholm, Stockholm, Sweden10001+199421
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
FSN Capital PartnersOslo, Oslo, Norway51-20019990
AlmiStockholm, Stockholm, Sweden201-50019947
Intera PartnersHelsinki, Uusimaa, Finland11-5020072
CapManHelsinki, Uusimaa, Finland51-20019894
PHM GroupHelsinki, Uusimaa, Finland5001-1000019892
Accent EquityStockholm, Stockholm, Sweden11-5019944
Nordic Investment BankHelsinki, Uusimaa, Finland201-500197619
Altor Equity PartnersStockholm, Stockholm, Sweden51-20020036
Lindab GroupGrevie, Skåne, Sweden1001-500019596
KoneEspoo, Uusimaa, Finland10001+19101
InwidoSweden1001-500020000
Polaris Private EquityCopenhagen, Denmark51-20019984


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