The data center maintenance and repair industry in the Nordics is vital for supporting growing digital demands. Companies here specialize in various services including HVAC, electrical systems, and automation, contributing to efficient operations. With increasing data usage and cloud adoption, the industry is shifting towards greener technologies. An emphasis on sustainability and energy efficiency is causing providers to innovate while facing challenges in hiring skilled workers. As businesses race to enhance their infrastructures, collaborations and strategic investments are on the rise, indicating a promising future for firms focused on maintaining robust data center environments.

The investor landscape in the Nordic data center maintenance and repair sector features a mix of corporate and private equity firms, headquartered primarily in cities like Stockholm and Helsinki. Most of these investors were founded between the late 1980s and early 2000s. Their sizes range significantly, from small firms with just a handful of employees to large organizations with thousands of personnel. In 2024, they collectively executed numerous investments, showcasing their active role in shaping the industry's future and solidifying their portfolio in a growing market.

Top 17 Data Center Maintenance and Repair Investors in the Nordics

1. 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 managing diverse investment portfolios across multiple sectors and geographies. Notably, EQT has made significant investments in the data center sector, including the acquisition of EdgeConneX, a company focused on edge data center solutions, and GlobalConnect, which provides connectivity and data center services. Additionally, EQT's acquisition of Coromatic AB, a provider of critical infrastructure solutions, highlights their engagement in the maintenance and repair aspects of data centers. These transactions demonstrate EQT's strategic focus on enhancing and supporting the data center ecosystem, making them a key player in this industry.

2. 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, founded in 2014. The company specializes in installation and consulting services across plumbing, electrical, ventilation, and industrial sectors. With a decentralized operational model, Instalco allows local companies to maintain their identity while benefiting from shared resources and best practices. Notably, Instalco has been active in acquiring companies that enhance its service offerings. For instance, the acquisition of Östersjö Elektriska AB in 2020 allowed them to strengthen their electrical installation services, which are vital for data centers. Other acquisitions, such as Telefuusio Ltd and LIAB Instrumenteringar, further demonstrate their commitment to expanding their capabilities in relevant service areas. These strategic moves position Instalco as a significant player in the maintenance and repair landscape, including potential applications in data center operations.

3. 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. Recently, CapMan Infra acquired fuZion A/S, a Danish colocation firm that operates four data centers and is expanding its presence in Copenhagen. This acquisition highlights CapMan's commitment to the data center sector. Additionally, they participated in a funding round for Serverius, further emphasizing their engagement in the data center industry. With a strong presence in the Nordic markets, CapMan leverages its expertise to manage funds and drive value creation for its clients, including those in the data center maintenance and repair space.

4. Bravida

• Website: bravida.se
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2000
• Headcount: 10001+
• LinkedIn: bravida

Bravida, founded in 2000 and based in Stockholm, Sweden, is a leading technical service provider specializing in the installation and maintenance of essential systems such as electrical, heating, sanitation, ventilation, and security systems. With a workforce of over 10,000 employees, Bravida operates across multiple locations in the Nordic region, serving property owners and facility managers to ensure that critical systems function reliably and efficiently. In recent years, Bravida has made several strategic acquisitions to enhance its service offerings, including the acquisition of KT Elektric A/S, an electrical service provider, which strengthens their capabilities in electrical services and building automation—key components for data center maintenance. Other notable acquisitions include Runevads VVS Teknik AB and Profire Sprinkler AB, which, while focused on plumbing and sprinkler systems, indicate Bravida's commitment to expanding its service portfolio. These transactions highlight Bravida's strategic approach to enhancing its operational capabilities, making it a relevant player in the data center maintenance and repair sector.

5. Nokia

• Website: nokia.com
• Type: Corporate
• Headquarters: Espoo, Uusimaa, Finland
• Founded year: 1865
• Headcount: 10001+
• Number of deals in 2024: 3
• LinkedIn: nokia

Nokia Corporation, founded in 1865 and based in Espoo, Uusimaa, Finland, is a leading telecommunications and technology solutions provider specializing in networking technology and digital transformation. The company offers a diverse range of products and services, including cloud infrastructure, mobile networks, and security solutions, targeting businesses across various industries. Notably, Nokia has made several strategic acquisitions to bolster its capabilities in areas relevant to data centers. For instance, the acquisition of DeepField aimed to enhance network and service automation through real-time analytics, which is vital for efficient data center operations. Additionally, the acquisition of Elenion Technologies focused on improving optical connectivity for 5G and cloud networking, further aligning with data center needs. The acquisition of SAC Wireless also reflects Nokia's intent to strengthen its network implementation services, which can play a role in data center maintenance and repair. Overall, Nokia's investments and acquisitions indicate a commitment to enhancing technologies that support data center operations.

6. 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 investment management company based in Stockholm, Sweden, founded in 1994. The firm focuses on providing strategic investment services across various sectors, aiming to enhance financial performance for its clients. Notably, Segulah Advisor acquired Conapto, a company that operates in the data center sector, from Sungard Availability Services in 2018. This acquisition highlights their involvement in the data center industry. Additionally, they have made several other acquisitions, including Francks Kylindustri and IT-Total, which, while not directly related to data centers, demonstrate their active investment strategy. Their diverse portfolio and strategic acquisitions position them as a relevant player in the data center maintenance and repair landscape.

7. Caverion

• Website: caverion.com
• Type: Corporate
• Headquarters: Vantaa, Uusimaa, Finland
• Founded year: 1912
• Headcount: 10001+
• LinkedIn: caverion

Caverion is a corporate investor based in Vantaa, Uusimaa, Finland, founded in 1912. The company specializes in technical services that enhance building performance, maintenance, and lifecycle management. Caverion offers a wide range of services, including technical installations, project management, and smart solutions aimed at improving efficiency and sustainability in built environments. In recent years, Caverion has made several strategic acquisitions to bolster its service offerings. Notably, they acquired LukkoPro, enhancing their smart security services, and Wind Controller, which allows them to expand into the energy sector. Additionally, they acquired VVS Teknikk Møre AS, specializing in ventilation and building automation, and DI-Teknik A/S, focusing on industrial automation. These transactions indicate Caverion's commitment to diversifying its service portfolio, which could include data center maintenance and repair services in the future.

8. Proact IT Group AB

• Website: proact.eu
• Type: Corporate
• Headquarters: Solna, Stockholm, Sweden
• Founded year: 1994
• Headcount: 1001-5000
• LinkedIn: proact

Proact IT Group AB, founded in 1994 and based in Solna, Stockholm, Sweden, is a corporate investor specializing in IT services, particularly in cloud transformation, data management, and cybersecurity solutions. With a workforce of 1001-5000 employees, Proact operates across multiple countries, catering to various sectors including healthcare, legal, and insurance. The company has made significant strides in the data center maintenance and repair industry through strategic acquisitions. Notable transactions include the acquisition of Teamix GmbH, which enhanced Proact's capabilities in data center architecture, and ahd GmbH & Co. KG, aimed at expanding managed cloud services in Germany. Other relevant acquisitions, such as Cetus Solutions and sepago GmbH, further solidify Proact's position in the data center sector, contributing to their growth and service offerings in this domain.

9. 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 specializes in technical services related to building technology and maintenance, offering a comprehensive range of services including installation, renovation, and maintenance of HVAC, plumbing, and electrical systems. Their clientele includes businesses and organizations that require reliable technical solutions for their facilities. In recent years, Assemblin has made several strategic acquisitions to bolster its service offerings. Notable transactions include the acquisition of NGL Energientreprenad in June 2022, which likely enhances their service capabilities, and the acquisition of Ehlin & Larsson AB in January 2022, a company specializing in ventilation and building management systems. This acquisition is particularly relevant as it aims to improve Assemblin's capabilities in air-treatment installations and energy projects, which are essential for maintaining optimal conditions in data centers. Other acquisitions, such as KK-Kylmäpalvelu and Lundqvist EL, further demonstrate Assemblin's commitment to expanding its technical service portfolio, making them a significant player in the building maintenance sector with potential relevance to data center operations.

10. Munters

• Website: munters.com
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1955
• Headcount: 1001-5000
• Number of deals in 2024: 4
• LinkedIn: munters

Munters is a climate control solutions provider based in Stockholm, Sweden, specializing in energy-efficient products for industrial and agricultural applications. Founded in 1955, the company has a workforce of 1001-5000 employees and has made significant strides in the data center market. In 2022, Munters acquired EDPAC, an Ireland-based manufacturer of data center cooling equipment, for MEUR 29, marking a strategic move to enhance its offerings in the European data center market. Additionally, in 2024, Munters announced the acquisition of Geoclima, an Italian chiller manufacturer, further solidifying its position in the data center cooling sector. These acquisitions reflect Munters' focus on developing energy-efficient cooling solutions that are vital for data center maintenance and repair, alongside their existing humidification and air treatment services.

11. Seb

• Website: sebgroup.com
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1856
• Headcount: 10001+
• Number of deals in 2024: 13
• LinkedIn: seb

Seb (Skandinaviska Enskilda Banken AB) is a prominent banking group based in Stockholm, Sweden, founded in 1856. It offers a comprehensive range of financial services, including corporate and investment banking, asset management, and private wealth management. In 2024, Seb has made 13 investments, showcasing their active role in the investment landscape. Notably, they participated in the debt financing of Delska (DEAC, Data Logistics Center) on July 20, 2023, which highlights their engagement in the data center sector. Additionally, they were involved in a funding round for Apica, a startup focused on improving observability solutions for enterprise customers, which includes plans to acquire LOGIQ.AI, a data fabric innovator. These transactions reflect Seb's commitment to supporting advancements in data center operations and maintenance.

12. 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. Their business model emphasizes acquisitions and organic growth, catering primarily to business customers seeking tailored technology solutions. Notably, Lagercrantz has made strategic acquisitions that align with the data center maintenance and repair industry, such as the acquisition of Direktronik AB in 2007, a family-owned importer and reseller of hardware for data and network communication. This acquisition enhances Lagercrantz's growth prospects in the Nordic region and indicates their involvement in the data center sector. Additionally, their acquisition of TecSec in 2022 further demonstrates their commitment to expanding their technical solutions portfolio, which could include services relevant to data centers.

13. Hexatronic Group

• Website: hexatronicgroup.com
• Type: Corporate
• Headquarters: Gothenburg, Västra Götaland, Sweden
• Founded year: 1993
• Headcount: 501-1000
• LinkedIn: hexatronic

Hexatronic Group is a corporate investor based in Gothenburg, Sweden, specializing in telecommunications and technology solutions, particularly in fiber optic and wireless infrastructure. Founded in 1993, the company has grown to employ between 501 and 1000 people and has made significant strides in the data center sector. Notably, in October 2023, Hexatronic acquired USNet, a US-based company that specializes in installation and project management services for data centers, enhancing their service capabilities in this market. Additionally, their acquisition of The Light Brigade, a fiber-optic training provider, and ATG Technology Group, a player in the New Zealand fiber industry, further demonstrates their commitment to expanding their expertise and offerings in telecommunications and data center services. These strategic acquisitions position Hexatronic Group as a key player in the data center maintenance and repair industry.

14. Inventure

• Website: inventure.vc
• Type: Venture Capital
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2005
• Headcount: 11-50
• Number of deals in 2024: 9
• LinkedIn: inventure

Inventure is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2005. The firm focuses on backing ambitious Nordic and Baltic founders, providing venture capital investment and portfolio management services to early-stage tech startups. Notably, Inventure has participated in funding rounds for UpCloud, a Helsinki-based cloud server provider, contributing to both a Series A and Series B funding round. These investments aim to support UpCloud's growth and expansion in the cloud computing sector, which is integral to data center operations. Additionally, Inventure has been involved in other tech startups, such as UltiHash, which focuses on high-performance data storage software, further indicating their engagement with companies that may intersect with data center maintenance and repair needs.

15. Bravida Norge AS

• Website: bravida.no
• Type: Corporate
• Headquarters: Oslo, Oslo, Norway
• Founded year: 2000
• Headcount: 1001-5000
• LinkedIn: bravida-norge

Bravida Norge AS is an installation service company based in Oslo, Norway, founded in 2000. With a workforce of 1001-5000 employees, Bravida specializes in a range of technical solutions, including electrical, plumbing, ventilation, automation, fire safety, and security services. The company operates through a network of branches across Scandinavia, providing maintenance and installation services to ensure efficient building operations. In recent years, Bravida has made several strategic acquisitions to enhance its service offerings, including the acquisition of Karlstads Processror on May 5, 2022, and Electrosec Elteknik i Östergötland AB on June 1, 2022, which focuses on electrical systems. Additionally, they acquired Langhus Rør for over $2 million on January 24, 2022. These transactions indicate Bravida's commitment to expanding its capabilities in technical services, which are crucial for the maintenance and repair of data centers.

16. Litorina

• Website: litorina.se
• Type: Private Equity
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1998
• Headcount: 11-50
• LinkedIn: litorina

Litorina is a private equity investment firm based in Stockholm, Sweden, founded in 1998. The firm specializes in private equity investments in Nordic niche market-leading companies, focusing on well-managed, profitable businesses primarily in the business services and consumer sectors. Litorina aims to provide capital, strategic guidance, and operational support to drive growth and value creation. Notably, Litorina acquired Coromatic AB in 2008, a company that offers critical infrastructure solutions, including data center services, which positions them within the data center maintenance and repair context. Additionally, they acquired Digpro in 2017, a company that provides software solutions for infrastructure management, further indicating their interest in sectors that may intersect with data center operations.

17. Swegon Group

• Website: swegon.com
• Type: Corporate
• Headquarters: Gothenburg, Västra Götaland, Sweden
• Founded year: 1961
• Headcount: 1001-5000
• Number of deals in 2024: 3
• LinkedIn: swegon-ab

Swegon Group, founded in 1961 and based in Gothenburg, Sweden, is a corporate investor specializing in indoor climate solutions. The company offers a range of products including air handling units, air purifiers, and climate management systems, catering to various sectors that require efficient HVAC solutions. Swegon has been active in expanding its market presence through strategic acquisitions, such as the acquisition of Dalair Ltd, a manufacturer of bespoke air handling units, which strengthens their position in the UK and Ireland markets. Additionally, their acquisition of Safegard Systems Ltd, a manufacturer of intelligent smoke and fire control systems, enhances their product offerings in fire and smoke control, which is crucial for data center safety. These transactions reflect Swegon's commitment to improving indoor climate solutions, making them a relevant player in the data center maintenance and repair industry.

Data Center Maintenance and Repair Insights: Key Investors in the Nordics

Investor	Headquarter	Size	Founded	Deals 2024
EQT Group	Stockholm, Stockholm, Sweden	1001-5000	1994	30
Instalco	Stockholm, Stockholm, Sweden	1001-5000	2014	2
CapMan	Helsinki, Uusimaa, Finland	51-200	1989	4
Bravida	Stockholm, Stockholm, Sweden	10001+	2000	0
Nokia	Espoo, Uusimaa, Finland	10001+	1865	3
Segulah Advisor	Stockholm, Stockholm, Sweden	11-50	1994	0
Caverion	Vantaa, Uusimaa, Finland	10001+	1912	0
Proact IT Group AB	Solna, Stockholm, Sweden	1001-5000	1994	0
Assemblin	Helsinki, Uusimaa, Finland	201-500	2000	0
Munters	Stockholm, Stockholm, Sweden	1001-5000	1955	4
Seb	Stockholm, Stockholm, Sweden	10001+	1856	13
Lagercrantz Group AB	Stockholm, Stockholm, Sweden	1001-5000	2001	6
Hexatronic Group	Gothenburg, Västra Götaland, Sweden	501-1000	1993	0
Inventure	Helsinki, Uusimaa, Finland	11-50	2005	9
Bravida Norge AS	Oslo, Oslo, Norway	1001-5000	2000	0
Litorina	Stockholm, Stockholm, Sweden	11-50	1998	0
Swegon Group	Gothenburg, Västra Götaland, Sweden	1001-5000	1961	3

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