The roofing industry in the Nordics focuses on providing robust and resilient solutions to withstand harsh climates. Companies range from traditional roofing contractors to innovative manufacturers specializing in eco-friendly materials and advanced technologies. The sector is evolving, with increasing emphasis on sustainability and energy efficiency in roofing solutions, driven by both regulatory demands and consumer preferences. Moreover, digitalization is shaping the industry, streamlining operations and enhancing service delivery. As housing development surges, particularly in urban areas, the industry is poised for growth, highlighting opportunities for investments that capitalize on new trends in design and performance.


This list features a mix of corporate and private equity investors based in the Nordics, showcasing a blend of established firms and emerging players. With headquarters across Sweden, Finland, and Denmark, these investors range from large organizations, like STARK Group, to smaller firms like Accent Equity. Founded between 1896 and 2014, they bring various investment strategies to the roofing industry. Notably, some have been active in 2021 and 2023, with several deals in the pipeline for 2024, indicating a vibrant investment landscape in roofing ventures within the region.


Top 16 Roofing 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 enables local companies to maintain their identity while benefiting from shared resources and best practices. Notably, Instalco has made strategic acquisitions to enhance its service portfolio. In 2022, they acquired a 70% stake in Highcon AB, a company specializing in scaffolding structures, which is relevant to roofing projects as scaffolding is essential for safe and efficient roofing work. This acquisition aims to strengthen Instalco's industrial business area. Other acquisitions, such as Haug og Ruud VVS AS, further expand their service offerings, although they primarily focus on heating and plumbing. Overall, Instalco's activities in the construction sector, particularly through their scaffolding acquisition, position them as a relevant player in the roofing industry.


2. Soltech Energy Sweden AB


Soltech Energy Sweden AB is a corporate investor based in Stockholm, Sweden, specializing in renewable energy solutions, particularly solar energy. Founded in 2006, the company focuses on transforming properties into sustainable energy producers by offering solar cells, battery storage, and charging solutions. In addition to their core business, Soltech has actively expanded into the roofing sector, exemplified by their acquisition of a 90.1% stake in Wettergrens Tak & Plåtslageri AB, a roofing company, in September 2021. This strategic move not only enhances their presence in the roofing industry but also complements their solar energy initiatives. Furthermore, Soltech has engaged in other acquisitions, such as Din Elkontakt, which aims to bolster their solar energy department, and Fasadsystem i Stenkullen AB, indicating a broader strategy to integrate various services related to energy and construction. These transactions highlight Soltech's commitment to expanding its capabilities in both the roofing and renewable energy sectors.


3. 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 prominent building materials distributor based in Frederiksberg, Denmark, serving professional builders across Europe. Founded in 1896, the company has grown to employ over 10,000 people and focuses on providing a wide range of heavy construction materials, including timber and eco-labelled products. STARK Group emphasizes sustainability and empowers builders with insights and product knowledge to support their construction projects efficiently. In recent years, STARK Group has made significant strides in the roofing sector through strategic acquisitions. In March 2021, they acquired Melle Gallhöfer, a leading German distributor of roofing and facade building materials, which generates annual revenue exceeding EUR 300 million. This acquisition was aimed at enhancing STARK's market position in Germany. Additionally, in February 2022, they acquired Dach & Wand Handels GmbH, a key player in Austria for the sale and distribution of heavy building materials, further solidifying their presence in the roofing market. These transactions highlight STARK Group's active role in the roofing industry, aligning with their broader business strategy.


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 specializes in managing investments across various sectors, including services, green transition, industrials, and technology, with a strong emphasis on sustainable returns for institutional investors and pension funds. Notably, FSN Capital has been involved in several transactions that align with the construction and building materials industry. For instance, they acquired Fibo-Trespo and Respatex International, both of which are manufacturers of panels that can be used in roofing applications. Additionally, their acquisition of Håndverksgruppen, which consolidates multiple companies in the surface treatment industry, further demonstrates their engagement in sectors that intersect with roofing and construction. These transactions highlight FSN Capital's strategic focus on growth and transformation within industries that are relevant to roofing.


5. 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 is a corporate investor based in Grevie, Skåne, Sweden, specializing in ventilation systems and building products. Founded in 1959, the company has a strong focus on energy efficiency and creating healthy indoor climates for both residential and commercial properties. Lindab's customer base includes construction companies and contractors who rely on their diverse range of products for various building projects. In recent years, Lindab has actively expanded its portfolio through strategic acquisitions, including Profilplåt, a Swedish roof manufacturer, which enhances their roofing product line and delivery capacity in northern Sweden. They also acquired Muncholm A/S, a leading wholesaler for tinsmiths in Denmark, further solidifying their connections within the roofing and building materials sector. These transactions demonstrate Lindab's commitment to strengthening its position in the roofing industry while continuing to serve the broader construction market.


6. Trelleborg Group

  • Website: trelleborg.com
  • Type: Corporate
  • Headquarters: Trelleborg, Skåne, Sweden
  • Founded year: 1905
  • Headcount: 10001+
  • Number of deals in 2024: 7
  • LinkedIn: trelleborggroup

Trelleborg Group, founded in 1905 and based in Trelleborg, Skåne, Sweden, is a leading manufacturing company specializing in engineered polymer solutions. With a workforce of over 10,000 employees, Trelleborg provides a diverse range of products, including seals, damping solutions, and fluid handling systems, catering to industries such as aerospace, automotive, healthcare, and marine. Notably, Trelleborg has made significant strides in the roofing industry through strategic acquisitions. In 2001, they acquired Phønix Tag Materiale, and in 2006, they finalized the acquisition of Hetag Tagmaterialer A/S, which included an option to acquire the entire Hetag Group’s roof contracting operations. These transactions highlight Trelleborg's intent to enhance its market position in the roofing sector and create synergies in administration and logistics, showcasing their commitment to this industry.


7. 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. Accent Equity aims to create sustainable growth and superior returns for its clients across various sectors. Notable transactions include the acquisition of S:t Eriks, a company involved in construction materials, which could relate to roofing applications. Additionally, their acquisition of Linotol, focused on industrial flooring solutions, and STENI AS, a façade panel company, further demonstrates their engagement in the construction and building materials sector. These transactions highlight Accent Equity's expertise in investment management and their potential interest in related industries, including roofing.


8. Nordic Waterproofing AB


Nordic Waterproofing AB is a corporate investor based in Sweden, founded in 1904. The company specializes in waterproofing solutions for buildings and infrastructure, offering a diverse range of products including waterproofing materials, prefabricated elements, and installation services. Their primary customers are construction companies and property developers who require reliable solutions to prevent water damage. In 2017, Nordic Waterproofing acquired 100% of the shares in Finnish company SPT-Painting Oy for approximately SEK 31 million, aiming to enhance their product portfolio in the floor coating sector, which is relevant to roofing as it involves protective coatings. This acquisition reflects their commitment to expanding their market position and product offerings in sectors closely related to building protection, including roofing.


9. Sentica

  • Website: sentica.fi
  • Type: Private Equity
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2004
  • Headcount: 11-50
  • LinkedIn: sentica-partners

Sentica is a private equity firm based in Helsinki, Uusimaa, Finland, founded in 2004. The firm specializes in investment management services, focusing on providing capital and strategic support to businesses seeking growth or restructuring through private equity investments. Sentica's portfolio includes a variety of companies, and they have been involved in several notable transactions. One significant investment was the acquisition of Hämeen Laaturemontti Oy on April 8, 2014, a company that specializes in roofing services. This transaction highlights Sentica's engagement in the roofing industry. Additionally, they acquired Arme Oy, an industrial insulation company, and TerraWise, further showcasing their diverse investment strategy. However, their direct involvement in roofing through Hämeen Laaturemontti Oy is particularly relevant for your list.


10. Segulah Advisor

  • Website: segulah.se
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 11-50
  • LinkedIn:

Segulah Advisor is a private equity firm based in Stockholm, Sweden, founded in 1994. The firm specializes in providing strategic investment services aimed at enhancing financial performance across various sectors. Notably, Segulah has made significant acquisitions in the roofing and construction industry, including Zengun AB, Beerenberg Corp., and Sandbäckens, all of which are involved in roofing and related services. These transactions demonstrate Segulah's commitment to investing in companies that operate within the roofing sector, thereby enhancing their portfolio with relevant industry players. Additionally, Segulah acquired S:t Eriks, a company that also has ties to the construction and roofing market, further solidifying their presence in this field.


11. Kesko - K-Group

  • Website: kesko.fi
  • Type: Corporate
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 1940
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: kesko

Kesko Oyj, founded in 1940 and based in Helsinki, Uusimaa, Finland, is a prominent retail company operating across various sectors, including grocery, construction, and automotive. With a workforce of over 10,000 employees, Kesko has established a strong market presence in Finland and several other countries. In recent years, Kesko has made significant acquisitions that enhance its position in the construction and building materials market. Notably, the acquisition of Carlsen Fritzøe Handel AS for approximately €144 million in 2020 expanded Kesko's footprint in the building and home improvement sector in Norway. Additionally, the acquisition of Onninen in 2016 and the recent acquisition of Davidsens Tømmerhandel in 2023 for $184 million further solidify Kesko's involvement in the construction industry, which includes roofing materials and services. These strategic moves demonstrate Kesko's commitment to strengthening its market position in the building sector, making it a relevant player in the roofing investment landscape.


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 a private equity investment management firm based in Helsinki, Finland, founded in 1989. The firm specializes in private equity, real estate, infrastructure, and natural capital investments, catering primarily to institutional investors. CapMan has a strong presence in the Nordic markets and focuses on diverse investment strategies aimed at achieving sustainable returns. Notably, CapMan has been involved in several transactions relevant to the construction and renovation sectors, including the acquisition of KotiSun Group, which specializes in renovations of service water, heating, and drainage systems. This investment indicates CapMan's interest in home improvement services. Additionally, CapMan acquired Lämpölux, a company focused on window and door renovation solutions, further showcasing their engagement in the renovation industry. These transactions highlight CapMan's capability to drive value creation in sectors related to construction and home improvement.


13. 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, founded in 1994. The firm specializes in private equity, infrastructure, real estate, growth equity, and venture capital, catering to institutional investors with expertise in managing diverse investment portfolios across multiple sectors and geographies. Notably, EQT has been involved in significant transactions such as the acquisition of Thinkproject, a leading SaaS provider for construction and engineering projects in Europe, which highlights their engagement in the construction sector. This acquisition, along with their other investments, positions EQT as a player in industries that intersect with roofing, making them a relevant investor in this context.


14. 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 specializes in developing and acquiring companies with high technical expertise across various sectors, including technology and industrial solutions. 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 strategic acquisitions such as Stabalux, which specializes in profile systems for facades, and Winab Vikväggar AB, a manufacturer of folding partitions. These transactions highlight Indutrade's commitment to expanding its footprint in the construction and building materials industry, which includes roofing-related products and solutions.


15. 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. They provide capital and strategic support to businesses with revenues between €10-200 million, emphasizing responsible investing and building strong partnerships with business owners. Notably, Intera Partners acquired Consti Yhtiöt in 2008, a company involved in construction and renovation, which includes roofing services. This acquisition highlights their engagement in the roofing sector, alongside other investments such as Cervi and Renta, which, while not directly related to roofing, showcase their diverse investment portfolio.


16. 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 sectors, including Electrify, Control, and TecSec. In 2021, Lagercrantz Group made a significant acquisition by purchasing CW Lundberg, a leader in safety products for roofs and facades, with operations in Sweden, Norway, and Poland. This acquisition is expected to enhance their TecSec Division and positively impact the Group's earnings per share. Additionally, they acquired Oy Esari, a Finnish company that provides equipment shelters and technical buildings, further diversifying their portfolio. These transactions highlight Lagercrantz's strategy of growth through acquisitions in niche markets, including the roofing sector.



Roofing Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
InstalcoStockholm, Stockholm, Sweden1001-500020142
Soltech Energy Sweden ABStockholm, Stockholm, Sweden1001-500020060
STARK GroupFrederiksberg, Frederiksberg, Denmark10001+18960
FSN Capital PartnersOslo, Oslo, Norway51-20019990
Lindab GroupGrevie, Skåne, Sweden1001-500019596
Trelleborg GroupTrelleborg, Skåne, Sweden10001+19057
Accent EquityStockholm, Stockholm, Sweden11-5019944
Nordic Waterproofing ABSweden501-100019040
SenticaHelsinki, Uusimaa, Finland11-5020040
Segulah AdvisorStockholm, Stockholm, Sweden11-5019940
Kesko - K-GroupHelsinki, Uusimaa, Finland10001+19401
CapManHelsinki, Uusimaa, Finland51-20019894
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
Indutrade Life ScienceStockholm, Stockholm, Sweden1001-5000197814
Intera PartnersHelsinki, Uusimaa, Finland11-5020072
Lagercrantz Group ABStockholm, Stockholm, Sweden1001-500020016


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