The chemical manufacturing industry in the Nordics is characterized by innovative companies creating essential materials for various sectors. With a strong emphasis on sustainability, firms produce everything from polymers to agricultural chemicals, often incorporating new technologies and research-based processes. Recent trends show increased investment in green chemistry, focusing on reducing environmental impact and enhancing efficiency. As regulations tighten across Europe, companies are adapting their practices, leading to a rush for sustainable solutions. Nordic firms are not just players in production; they aim to lead in eco-friendly innovations, driving the region towards a greener future.


The investment scene in the Nordic chemical manufacturing sector features a mix of venture capital and private equity firms, mostly headquartered in Sweden and Finland. Established between 1978 and 2019, these investors vary in size, from small boutique firms to large corporate entities. In 2024 alone, these investors were involved in 300 deals, reflecting a robust appetite for new opportunities in the chemical space. Firms like Almi and Novo Holdings are at the forefront, actively nurturing and financing innovative companies to grow their impact in the chemical industry.


Top 18 Chemical Manufacturing Investors in the Nordics


1. Novo Holdings

  • Website: novoholdings.dk
  • Type: Venture Capital
  • Headquarters: Hellerup, Denmark
  • Founded year: 1999
  • Headcount: 51-200
  • Number of deals in 2024: 45
  • LinkedIn: novo-a-s

Novo Holdings A/S is a not-for-profit investment firm based in Hellerup, Denmark, founded in 1999. It manages the assets of the Novo Nordisk Foundation and primarily invests in life science companies at various stages of development. The firm provides capital and strategic support to enhance healthcare solutions. Notably, Novo Holdings has participated in several transactions relevant to the chemical manufacturing industry. For instance, it invested in BioPhero, which raised funds to ramp up production of pheromones, a critical component in agricultural pest control, indicating a direct link to chemical manufacturing. Additionally, their investments in Genomatica and LanzaTech highlight their commitment to sustainable chemical production, further solidifying their role in the chemical sector.


2. 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, that provides loans, risk capital, and business development support to small and medium-sized enterprises. Founded in 1994, Almi aims to enhance the growth and competitiveness of these businesses through tailored financial solutions and guidance. Among its notable transactions, Almi has invested in companies such as Svenska Aerogel, which specializes in producing aerogel materials, and Circhem, which focuses on chemical recycling. Additionally, Almi participated in funding rounds for SpinChem, a company that develops innovative chemical processes. These investments highlight Almi's engagement with the chemical manufacturing sector, alongside its broader investment strategy.


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 is part of the Indutrade group, which focuses on developing and acquiring companies with high technical expertise across various industrial sectors. 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 been active in the chemical manufacturing context, having acquired companies such as acti-Chem, which specializes in sustainable water treatment solutions, and Italprotec Industries, which operates in the industrial sector. These transactions highlight Indutrade's commitment to expanding its portfolio in areas relevant to chemical manufacturing, thereby enhancing its capabilities in providing innovative industrial products.


4. 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 private equity investment firm based in Stockholm, Sweden, founded in 1994. The firm specializes in managing diverse investment portfolios across multiple sectors, including private equity, infrastructure, real estate, growth equity, and venture capital. Notably, EQT has made significant investments in the chemical manufacturing sector, including the acquisition of Azelis, a global leader in specialty chemicals distribution, which reported sales of approximately EUR 1.8 billion. This acquisition highlights EQT's strategic interest in the chemicals market. Additionally, EQT's involvement with PharmaZell, which raised funds for its operations, further emphasizes their engagement in the chemical manufacturing space. Their diverse portfolio and expertise in managing investments across various industries position EQT as a key player in the chemical manufacturing sector.


5. Chalmers Ventures


Chalmers Ventures is a venture builder and tech investor based in Sweden, founded in 2015. They specialize in supporting deep tech innovations by assisting researchers and entrepreneurs in commercializing their technologies. Their model emphasizes active ownership and investment in startups, providing business guidance, financing, and community networking. Notably, Chalmers Ventures has been involved in several transactions, including significant investments in Vividye AB, a textile tech startup that focuses on advanced printing technology for fabrics. This technology allows for the removal and reapplication of colors on textiles, which is directly relevant to the chemical manufacturing sector, particularly in dye and textile processing. Their investment in Vividye AB, which raised funds in multiple rounds, highlights their commitment to supporting innovations that have potential applications in chemical manufacturing.


6. Business Finland

  • Website: businessfinland.fi
  • Type: Corporate
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2018
  • Headcount: 501-1000
  • Number of deals in 2024: 26
  • LinkedIn: business-finland

Business Finland is a public entity based in Helsinki, Uusimaa, Finland, founded in 2018. It plays a crucial role in supporting Finnish companies by providing funding, consulting services, and market opportunities to help them innovate and succeed in global markets. In 2024, Business Finland was involved in 26 investments, including notable transactions in the chemical manufacturing context. For instance, they participated in funding rounds for Canatu, a company specializing in nanotechnology and conductive films, which is relevant to the chemical manufacturing industry. Additionally, they provided a grant to Onego Bio, which is involved in sustainable bioprocessing, further indicating their engagement in sectors that intersect with chemical manufacturing. However, their primary focus remains on supporting a diverse range of industries, not exclusively chemicals.


7. Katapult

  • Website: katapult.vc
  • Type: Venture Capital
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 8
  • LinkedIn: katapult-accelerator

Katapult is an impact investment firm based in Oslo, Norway, founded in 2017. They focus on tech startups that address global challenges, providing investment, accelerator programs, and mentorship to early-stage companies. Katapult has been active in sectors like climate-tech and ocean-tech, which often intersect with chemical manufacturing. Notably, they have invested in Sparxell, a UK-based developer of sustainable plant-based pigments, and Carbonwave, which is building large-scale cosmetics emulsifier production facilities in Puerto Rico. These transactions highlight Katapult's commitment to supporting innovative solutions in the chemical manufacturing space, particularly those that emphasize sustainability and environmental responsibility.


8. Industrifonden

  • Website: industrifonden.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1979
  • Headcount: 11-50
  • Number of deals in 2024: 9
  • LinkedIn: industrifonden

Industrifonden is a venture capital fund based in Stockholm, Sweden, founded in 1979. The firm specializes in investing in early-stage companies, particularly in the fields of Deep Tech, Life Science, and Transformative Tech. They provide financial support and strategic guidance to startups, helping them scale their innovative solutions. Notably, Industrifonden has participated in several funding rounds for companies that are relevant to the chemical manufacturing sector. For instance, they were involved in a €21M Series B funding round for EnginZyme, a company focused on sustainable biomanufacturing processes, and in a financing round for Retein, a biotech startup aimed at increasing production volume. These transactions highlight Industrifonden's commitment to supporting innovative companies that could contribute to advancements in chemical manufacturing.


9. Voima Ventures

  • Website: voimaventures.com
  • Type: Venture Capital
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2019
  • Headcount: 11-50
  • Number of deals in 2024: 11
  • LinkedIn: voima-ventures

Voima Ventures is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2019. The firm specializes in funding early-stage science-based innovations and deep tech ventures, providing capital and expertise to help startups scale their solutions for global challenges. Voima Ventures operates primarily in the Nordic and Baltic regions and has been active in various sectors, including life sciences and advanced manufacturing. Notably, they have participated in several relevant transactions, such as their investment in Cellfion, a Swedish startup developing sustainable membranes for energy storage and conversion devices, which aligns with advancements in chemical manufacturing. They also invested in Origin by Ocean, which, while primarily focused on ocean-based solutions, may have implications for sustainable chemical processes. Their diverse portfolio indicates a willingness to support innovations that could impact the chemical manufacturing industry.


10. 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 corporate investor based in Stockholm, Sweden, specializing in technology solutions 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. In recent years, Addtech has made significant strides in the chemical manufacturing sector through strategic acquisitions. For instance, they acquired Thurne Teknik AB, a supplier of components and systems for the chemical and pharmaceutical industries, which is expected to positively impact their earnings. Additionally, they acquired Gotapack International AB, a company focused on equipment and services for the pharmaceutical industry. These transactions highlight Addtech's commitment to expanding its footprint in the chemical manufacturing domain, making them a relevant player in this industry.


11. Lifeline Ventures


Lifeline Ventures is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2009. The firm specializes in early-stage investments, providing financial backing and advisory services to resilient entrepreneurs across various sectors. Lifeline Ventures has been actively involved in several notable transactions, particularly in the food technology and chemical manufacturing context. For instance, they participated in funding rounds for Solar Foods, which has developed a novel method for producing protein from air, highlighting their interest in innovative chemical processes. Their investment in Origin by Ocean, a startup focused on sustainable solutions, also reflects their commitment to supporting ventures that may have implications in the chemical manufacturing industry. Overall, Lifeline Ventures aims to help startups grow and scale, with a diverse portfolio that includes companies operating at the intersection of technology and chemical manufacturing.


12. HEXPOL Compounding

  • Website: hexpol.com
  • Type: Corporate
  • Headquarters: Rekekroken, Skåne, Sweden
  • Founded year: 1893
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: hexpol-compounding

HEXPOL Compounding, founded in 1893 and based in Rekekroken, Skåne, Sweden, is a corporate investor specializing in polymer manufacturing. The company focuses on advanced polymer compounding and engineered products, serving diverse industries such as automotive, healthcare, and construction. HEXPOL is committed to innovation and sustainability, providing high-quality materials including rubber and thermoplastic compounds, gaskets, and wheels. Notably, HEXPOL has made significant acquisitions to bolster its position in the chemical manufacturing sector. In 2018, they acquired 80% of MESGO Group, an Italian high-performance elastomers compounder, for approximately 168 million EUR, enhancing their capabilities in elastomers. In 2022, they acquired 70% of almaak international GmbH, a German company specializing in advanced recycled engineered compounds, for about 70 million EUR, aligning with their growth strategy in thermoplastic compounding. Additionally, their acquisition of RheTech LLC in 2015 for approximately 112 million USD further solidified their expertise in polymer compounding. These strategic moves illustrate HEXPOL's active role in the chemical manufacturing industry.


13. 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 is a corporate investor based in Trelleborg, Skåne, Sweden, specializing in engineered polymer solutions. Founded in 1905, the company has grown to employ over 10,000 people and is known for its innovative products that cater to various industries, including aerospace, automotive, healthcare, and marine. In recent years, Trelleborg has made several strategic acquisitions to enhance its capabilities in the chemical manufacturing context. Notably, they acquired MNE Group in May 2024, which specializes in high-performance specialty seals for the semiconductor market, thereby strengthening their position in a critical area of chemical applications. Additionally, their acquisition of Gutteling Group in March 2021 expanded their industrial hose offerings, particularly in the LNG sector, which is closely related to chemical transportation and processing. These transactions reflect Trelleborg's commitment to advancing its technological capabilities and product offerings in the chemical manufacturing landscape.


14. 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 enhancing operational efficiency and sustainable growth for its partners through tailored investment strategies and digital transformation solutions. Altor has been involved in several significant transactions that highlight its engagement in sectors related to chemical manufacturing. For instance, their investment in Vianode, alongside Hydro and Elkem, aims to develop sustainable battery materials, which are crucial in the chemical sector. Additionally, Altor's acquisition of Trioworld, a company involved in the production of plastic products, further emphasizes their involvement in the chemical manufacturing industry. These transactions reflect Altor's strategic focus on industries that contribute to sustainable development and innovation in chemical processes.


15. 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 a diverse range of investment strategies, including private equity, real estate, infrastructure, and natural capital investments. CapMan serves institutional investors, providing them with access to sustainable returns through its expertise in the Nordic markets. Notably, CapMan has been involved in several transactions relevant to the chemical manufacturing sector, including the acquisition of Pharmia in 2021, which operates in the pharmaceutical industry, and the acquisition of Metal Power Technology Sweden in 2009, which may involve materials with chemical applications. These transactions highlight CapMan's engagement in sectors that intersect with chemical manufacturing, reinforcing its relevance in this investment category.


16. Aboa Venture III Ky


Aboa Venture III Ky is a private equity firm based in Turku, Southwest Finland, founded in 1994. The firm specializes in providing equity financing solutions to Finnish businesses with revenues between 2-20 million euros, focusing on acquisitions and growth investments. Aboa Venture has participated in several transactions, including investments in companies like Coreplast Laitila, which is involved in the production of plastic products, and Purvac, which operates in the chemical sector. These investments highlight Aboa Venture's engagement with businesses that have relevance to chemical manufacturing, alongside their broader investment strategy targeting small to medium-sized enterprises seeking capital for expansion and restructuring.


17. BEWI Group

  • Website: bewi.com
  • Type: Corporate
  • Headquarters: Solna, Stockholm, Sweden
  • Founded year: 1980
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: bewisynbra

BEWI Group is a corporate investor based in Solna, Stockholm, Sweden, founded in 1980. The company specializes in manufacturing packaging, insulation, and automotive components, with a strong emphasis on providing sustainable solutions that minimize environmental impact while ensuring product safety. Their product offerings include certified recycled EPS and other innovative materials tailored to meet the needs of industries such as automotive and construction. BEWI Group has been active in expanding its portfolio through strategic acquisitions, including the acquisition of Aislenvas, Trondhjems Eskefabrikk, and Jackon, all of which enhance their capabilities in the insulation and packaging markets. Notably, their binding offer to acquire Synbra Holding, a manufacturer of particle foam products, highlights their commitment to integrating chemical manufacturing processes into their operations, further solidifying their position in the chemical manufacturing landscape.


18. Nordic Capital

  • Website: nordiccapital.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1989
  • Headcount: 201-500
  • Number of deals in 2024: 10
  • LinkedIn: nordic-capital

Nordic Capital is a private equity firm based in Stockholm, Sweden, founded in 1989. The firm specializes in investments across various sectors, including healthcare and technology, while also having a notable presence in the chemical manufacturing industry. Nordic Capital partners with management teams to drive growth and operational improvements in its portfolio companies, focusing on creating long-term value and sustainability. Among their relevant transactions, they acquired COROB, a company involved in manufacturing equipment for the paint and coatings industry, and invested in eMolecules, an e-procurement platform for high-value chemicals and bioreagents used in drug discovery. These transactions highlight Nordic Capital's engagement in the chemical sector, alongside their broader investment strategy.



Chemical Manufacturing Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
Novo HoldingsHellerup, Denmark51-200199945
AlmiStockholm, Stockholm, Sweden201-50019947
Indutrade Life ScienceStockholm, Stockholm, Sweden1001-5000197814
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
Chalmers VenturesSweden11-50201526
Business FinlandHelsinki, Uusimaa, Finland501-1000201826
KatapultOslo, Oslo, Norway11-5020178
IndustrifondenStockholm, Stockholm, Sweden11-5019799
Voima VenturesHelsinki, Uusimaa, Finland11-50201911
Addtech ABStockholm, Stockholm, Sweden1001-500019069
Lifeline VenturesHelsinki, Uusimaa, Finland1-10200914
HEXPOL CompoundingRekekroken, Skåne, Sweden1001-500018931
Trelleborg GroupTrelleborg, Skåne, Sweden10001+19057
Altor Equity PartnersStockholm, Stockholm, Sweden51-20020036
CapManHelsinki, Uusimaa, Finland51-20019894
Aboa Venture III KyTurku, Southwest Finland, Finland1-1019940
BEWI GroupSolna, Stockholm, Sweden1001-500019801
Nordic CapitalStockholm, Stockholm, Sweden201-500198910


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