The material handling equipment industry in the Nordics plays a critical role in optimizing logistics, warehousing, and manufacturing processes. Companies operating within this sector include manufacturers of forklifts, conveyor systems, lifting devices, and automated storage solutions. These businesses not only provide essential tools for efficiency but are also increasingly focusing on innovation, incorporating automation and smart technology to enhance product offerings. With sustainability at the forefront, many firms are adopting eco-friendly practices in their designs and operations. As e-commerce and supply chain demands grow, the industry is positioning itself for continued expansion and modernization in the near future.


The investors listed here represent a mix of corporate and private equity firms, primarily headquartered in Stockholm and other Nordic capitals. Ranging from large corporations like ASSA ABLOY Group to smaller private equity firms like Accent Equity, these entities are all active in the material handling scene. With investment sizes from 11 to over 10,000 employees, their strategies vary but share a common goal of enhancing operational efficiency. In 2024, they collectively made significant acquisitions, showcasing their commitment to evolving this vital sector.


Top 18 Material Handling Equipment Investors in the Nordics


1. 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 products. 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. Notable transactions include the acquisition of PMH International, which specializes in material handling solutions, and Colly Flowtech, which may also provide products relevant to the material handling sector. These acquisitions highlight Indutrade's strategy of expanding its portfolio in areas that can enhance its offerings in industrial solutions, including material handling equipment.


2. 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 a diverse range of investment strategies, including private equity, infrastructure, real estate, growth equity, and venture capital. EQT serves institutional investors by providing expertise in managing varied investment portfolios across multiple sectors and geographies. Notably, EQT has been active in the material handling equipment context through significant acquisitions such as Dorner Holding Corporation, which focuses on industrial automation, and Piab Group Holding, a Swedish industrial technology company. These transactions highlight EQT's strategic interest in enhancing capabilities within the material handling and automation sectors, further solidifying their position as a relevant investor in this industry.


3. 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 a diverse product portfolio. In recent years, ASSA ABLOY has made significant strides in the material handling equipment sector, highlighted by their acquisition of Integrated Warehouse Solutions in January 2024, which enhances their offerings in warehouse management. Additionally, they acquired a U.S. manufacturer of loading dock equipment in the same month, further solidifying their commitment to the material handling space. Other relevant transactions include the acquisition of 4Front Engineered Solutions and Beijing Tianming Industrial Technology, which, while not exclusively focused on material handling, contribute to their overall capabilities in logistics and operational efficiency.


4. 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, emphasizing acquisitions and organic growth. In recent years, Lagercrantz has made several strategic acquisitions that highlight their interest in the material handling equipment industry. Notably, they acquired Nikodan Conveyor Systems A/S in December 2015, a company known for its high-quality belt conveyors and product handling solutions, which significantly contributes to their portfolio in this sector. Additionally, their acquisition of MH Modules in December 2023 and Vihab in February 2021 further demonstrates their active engagement in related markets, reinforcing their position as a player in the material handling equipment industry.


5. 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 technology solutions provider based in Stockholm, Sweden, founded in 1906. The company specializes in high-tech products and services across various sectors, including automation, electrification, energy, industrial solutions, and process technology. Addtech serves OEM manufacturers and end-users, helping them enhance operational efficiency and sustainability through innovative solutions. In recent years, Addtech has made several strategic acquisitions that align with its focus on automation and industrial processes. Notably, the acquisition of BV Teknik A/S in November 2023, which specializes in customized production solutions for the automation industry, highlights their commitment to enhancing operational efficiency. Other relevant transactions include the acquisition of Finn-Jiit in December 2017 and Thurne Teknik AB in March 2019, which, while focused on the chemical and pharmaceutical industries, also contribute to the broader industrial solutions landscape. These transactions demonstrate Addtech's active role in sectors that are relevant to material handling equipment.


6. A.P. Moller - Maersk

  • Website: maersk.com
  • Type: Corporate
  • Headquarters: Copenhagen, Denmark
  • Founded year: 1904
  • Headcount: 10001+
  • Number of deals in 2024: 4
  • LinkedIn: maersk-group

A.P. Moller – Mærsk A/S is a leading logistics company based in Copenhagen, Denmark, founded in 1904. The company specializes in shipping and logistics services, providing global solutions for shipping, port operations, supply chain management, and warehousing. In recent years, Maersk has actively invested in companies that enhance its logistics capabilities, including a $40 million investment in ISEE, a developer of self-driving yard truck solutions, which aims to improve efficiency in material handling. Additionally, Maersk's acquisition of Performance Team for $545 million significantly expanded its warehousing and distribution capabilities in North America, increasing its number of warehouses to 46. These strategic investments and acquisitions demonstrate Maersk's commitment to advancing its operations in the material handling equipment sector.


7. Indutrade AB

  • Website: indutrade.com
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1978
  • Headcount: 5001-10000
  • Number of deals in 2024: 1
  • LinkedIn: indutrade-ab

Indutrade AB is a technology and industrial group based in Stockholm, Sweden, founded in 1978. The company focuses on developing and acquiring businesses characterized by high technical expertise across various sectors, including infrastructure, medical technology, and energy. Indutrade operates through over 200 subsidiaries, emphasizing decentralized leadership and long-term relationships with customers and partners. Notably, Indutrade has made strategic acquisitions in the material handling equipment sector, such as Sax Lift A/S, which specializes in scissor lift tables, and Stein Automation GmbH & Co. KG, which provides Industry 4.0-ready pallet transfer systems. These acquisitions reflect Indutrade's commitment to enhancing its portfolio in the material handling equipment market, contributing positively to its earnings per share.


8. 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 a diverse portfolio, with notable acquisitions in the material handling equipment sector, including Piab Group Holding, which they acquired in June 2006, and Constructor, acquired in October 2007. Both companies are key players in the material handling industry, with Piab focusing on vacuum technology and automation, and Constructor providing storage and logistics solutions. Additionally, Altor has invested in Dynapac, a company involved in construction equipment, which may also intersect with material handling applications. These strategic investments highlight Altor's commitment to sectors that enhance operational capabilities and efficiency in material handling contexts.


9. 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 investment management, focusing on providing equity financing solutions to Finnish businesses with revenues between 2-20 million euros. Aboa Venture III Ky participates in acquisitions and growth investments, primarily targeting small to medium-sized enterprises seeking capital for expansion and restructuring. Notably, they have been involved in several transactions, including Dinolift, a company in the material handling equipment sector, which raised an undisclosed amount in a venture round in 1997. Other investments include KINE Robot Solutions and Mepu Oy, although these companies are less directly related to material handling equipment. Their diverse portfolio suggests a willingness to invest in various sectors, including those relevant to material handling.


10. 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. Notably, Accent Equity has been involved in several acquisitions relevant to the material handling equipment sector, including the acquisition of STÅL & HYR in 2017, which specializes in material handling solutions. Other transactions include the acquisition of Lyngsoe Systems, which, while not directly in material handling, operates in logistics and supply chain management, potentially intersecting with material handling needs. Their portfolio also includes companies like Eco Log Sweden, San Sac Group, and Tempcon Group, indicating a diverse investment strategy that may encompass various aspects of material handling and logistics.


11. Piab - A brand by Piab Group

  • Website: piab.com
  • Type: Corporate
  • Headquarters: Danderyd, Stockholm, Sweden
  • Founded year: 1951
  • Headcount: 1001-5000
  • Number of deals in 2024: 2
  • LinkedIn: piab

Piab - A brand by Piab Group, founded in 1951 and based in Danderyd, Stockholm, Sweden, is a corporate investor specializing in vacuum technology and automation solutions. The company manufactures a range of products including vacuum pumps, ejectors, and robotic tools aimed at improving productivity and efficiency across various industrial sectors. Their customer base includes industries such as automotive, food and beverage, and pharmaceuticals. In recent years, Piab has made significant strides in the material handling equipment sector through strategic acquisitions. Notably, they acquired TAWI Group to enhance their offerings in the semi-automated lifting market, and Manut-LM, a leading manufacturer of handling tools, to expand their international development opportunities. Additionally, their acquisition of Joulin, a provider of vacuum grippers and gantry robots, further solidifies their commitment to automated gripping and moving solutions. These transactions highlight Piab's strategic focus on enhancing their capabilities in the material handling equipment industry.


12. Epiroc Construction Tools


Epiroc Construction Tools is a corporate investor based in Kalmar, Sweden, specializing in mining and construction equipment. Founded in 2018, Epiroc has quickly established itself as a significant player in the industry, focusing on enhancing productivity and safety through innovative technology. The company offers a wide range of products, including drill rigs and rock excavation tools, alongside services such as maintenance and digital solutions. In 2023, Epiroc made a notable acquisition of Stanley Infrastructure for $760 million, which strengthens their position in the material handling equipment market. Additionally, their acquisition of Wain-Roy, a U.S. manufacturer of excavator attachments, further emphasizes their commitment to expanding their footprint in the construction and material handling sectors. Other acquisitions, such as Remote Control Technologies and RNP Mexico, also align with their strategy to enhance their offerings in automation and rock drilling, respectively, showcasing their broad engagement in related industries.


13. Norvestor

  • Website: norvestor.com
  • Type: Private Equity
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1989
  • Headcount: 11-50
  • Number of deals in 2024: 3
  • LinkedIn: norvestor-equity-as

Norvestor is a private equity firm based in Oslo, Norway, founded in 1989. The firm specializes in investment management and advisory services, focusing on partnering with medium-sized Nordic businesses to support their growth and development. Norvestor emphasizes sustainability in its investments and has a diverse portfolio that includes various sectors. Notably, they acquired Smart Retur Norge AS, a logistics company, in 2020, which positions them within the logistics and supply chain sector relevant to material handling. Other acquisitions include Future Production AS, Wexus Gruppen AS, and PG Group (dba PG Flow Solutions), showcasing their active role in various industries, although not all are directly related to material handling equipment.


14. 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 sustainable returns through diverse investment strategies. Among its notable transactions, CapMan has invested in companies relevant to the material handling equipment sector, such as the acquisition of Hydroware, a leading provider of lift modernization systems in the Nordics, which highlights their commitment to enhancing material handling solutions. Additionally, their earlier investments in Havator and Giraffe Crane Technologies further demonstrate their engagement in the material handling and logistics industries, showcasing their capability to drive value creation in this space.


15. Metso

  • Website: metso.com
  • Type: Corporate
  • Headquarters: Espoo, Uusimaa, Finland
  • Founded year: 2020
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: metso

Metso Corporation, founded in 2020 and based in Espoo, Uusimaa, Finland, is a corporate investor specializing in industrial machinery and technology for various sectors, including mining, aggregates, and oil and gas. With a workforce of over 10,000 employees, Metso aims to enhance operational efficiency and sustainability for its business customers through a range of products and lifecycle services. The company has made significant strides in the material handling equipment sector through strategic acquisitions. For instance, their acquisition of P.J. Jonsson & Söner in 2018 and McCloskey International in 2019, both of which focus on mobile crushing and screening solutions, highlight their commitment to expanding their material handling capabilities. Furthermore, the recent acquisition of Ab A. Häggblom Oy in 2023, which specializes in mining truck bodies and buckets, underscores their focus on enhancing loading and hauling solutions, further solidifying their position in the material handling equipment industry.


16. 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 prominent player in the elevator and escalator industry, specializing in innovative solutions for vertical transportation. The company provides a comprehensive range of products, including elevators, escalators, and automatic doors, along with maintenance and modernization services. KONE serves various sectors, particularly construction and real estate, facilitating efficient people flow in urban environments. Notable transactions include the acquisition of Express Elevators Ltd. in 2015, which expanded their presence in the UK market, and the recent acquisition of Orbitz Elevators in Australia in 2024, enhancing their service capabilities in the Asia-Pacific region. These strategic acquisitions reflect KONE's commitment to strengthening its position in the material handling equipment sector, particularly in vertical transportation solutions.


17. Konecranes

  • Website: konecranes.com
  • Type: Corporate
  • Headquarters: Hyvinkää, Uusimaa, Finland
  • Founded year: 1994
  • Headcount: 10001+
  • Number of deals in 2024: 4
  • LinkedIn: konecranes

Konecranes Oyj, founded in 1994 and based in Hyvinkää, Uusimaa, Finland, is a leading manufacturer and service provider of cranes and lifting equipment. The company operates globally, offering a wide range of products and services tailored to various industries, including automotive, manufacturing, and shipping. Konecranes focuses on enhancing operational efficiency and safety through its innovative solutions. Notably, Konecranes has made significant acquisitions in the material handling equipment sector, including:1. **SMV Lifttrucks AB** - Acquired in 2004, this Swedish company specializes in container handling equipment, enhancing Konecranes' position in the global market for ports and terminals.2. **Morris Material Handling** - Acquired in 2006, this acquisition allowed Konecranes to increase its stake in a US rival, strengthening its market presence in North America.3. **Peinemann Mobilift Group** - Completed in 2024, this acquisition of a Rotterdam-based company focused on port services and container handling further expanded Konecranes' service offerings.4. **Trevolution Service SRL** - Acquired in 2019, this deal aimed to bolster Konecranes' service business in Italy, enhancing its field service operations.5. **Whiting Corporation's crane service business** - Acquired in 2023, this acquisition provided Konecranes access to a large installed base of cranes in North America, creating new customer opportunities.Through these strategic acquisitions, Konecranes has demonstrated its commitment to the material handling equipment industry, making it a relevant investor in this sector.


18. NTG | Nordic Transport Group A/S


NTG | Nordic Transport Group A/S is a logistics company based in Hvidovre, Denmark, specializing in freight forwarding and transportation services. Founded in 2011, NTG operates with a decentralized business model, providing tailored logistics solutions across various industries. In recent years, NTG has made several strategic acquisitions to enhance its logistics capabilities. Notably, the acquisition of NTG Logistics AB in December 2022 significantly increased their warehousing capacity by adding 51,000 m2 to their existing facilities. This move is crucial for material handling as it allows for better storage and management of goods. Additionally, their acquisition of RTC Transport A/S in December 2023 aims to expand their furniture logistics services, which often require specialized material handling equipment. These transactions reflect NTG's commitment to enhancing its logistics operations, making them a relevant player in the material handling equipment industry.



Material Handling Equipment Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
Indutrade Life ScienceStockholm, Stockholm, Sweden1001-5000197814
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
ASSA ABLOY GroupStockholm, Stockholm, Sweden10001+199421
Lagercrantz Group ABStockholm, Stockholm, Sweden1001-500020016
Addtech ABStockholm, Stockholm, Sweden1001-500019069
A.P. Moller - MaerskCopenhagen, Denmark10001+19044
Indutrade ABStockholm, Stockholm, Sweden5001-1000019781
Altor Equity PartnersStockholm, Stockholm, Sweden51-20020036
Aboa Venture III KyTurku, Southwest Finland, Finland1-1019940
Accent EquityStockholm, Stockholm, Sweden11-5019944
Piab - A brand by Piab GroupDanderyd, Stockholm, Sweden1001-500019512
Epiroc Construction ToolsKalmar, Kalmar, Sweden10001+20183
NorvestorOslo, Oslo, Norway11-5019893
CapManHelsinki, Uusimaa, Finland51-20019894
MetsoEspoo, Uusimaa, Finland10001+20202
KoneEspoo, Uusimaa, Finland10001+19101
KonecranesHyvinkää, Uusimaa, Finland10001+19944
NTG | Nordic Transport Group A/SHvidovre, Denmark1001-500020113


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