Top 19 Industrial Construction Investors in the Nordics
Top 19 Industrial Construction Investors in the Nordics
The industrial construction industry in the Nordics is robust and vital, integrating advanced techniques to build infrastructures like roads, bridges, and facilities. Over the years, this sector has evolved, with companies focusing on sustainability and innovative technologies. Many players are involved, from specialized contractors to engineering firms, all striving to meet increasing demands for eco-friendly solutions and efficiency. Emerging trends include the rise of digital transformation in construction processes and a push toward green building practices, driven by both government initiatives and market forces that prioritize environmental responsibility.
The investors listed in this article vary widely in type, including private equity firms and corporate entities, primarily based in Stockholm, Oslo, and Helsinki. With employee sizes ranging from small firms to large corporations, these investors have been active in deal-making in recent years, with 2024 investments reflecting a focus on industrial construction. Established between 1895 and 2014, these companies bring varying expertise, with some conducting multiple transactions, while others are more selective, reflecting their unique strategies and market positioning.
Top 19 Industrial Construction 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 private equity 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 Group serves institutional investors by providing expertise in managing varied investment portfolios across multiple sectors and geographies. Among their notable transactions, EQT acquired Aker Solutions in December 2013 for approximately $663 million, a key player in the engineering and construction sector for energy projects. Additionally, their acquisition of Apleona in January 2016 highlights their commitment to facility management and construction services. These transactions underscore EQT's active role in the industrial construction landscape, alongside their broader investment activities.
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 workforce of 1001-5000 employees, Instalco operates through a decentralized model, allowing local companies to maintain their identity while benefiting from shared resources and best practices. In recent years, Instalco has made several strategic acquisitions to enhance its capabilities in the industrial construction sector. Notably, they acquired Highcon AB, a company specializing in scaffolding structures, to strengthen their industrial business area. Additionally, the acquisition of Teampipe Sweden AB, which specializes in welding and pipe installations, allows Instalco to enter new markets, particularly in the nuclear power industry. Their acquisition of Processus AB, an engineering firm focused on project management and automation, further expands their reach into the pharmaceutical industry, showcasing their versatility and commitment to growth in related sectors. Overall, Instalco's focus on essential services for construction and industrial operations positions them as a significant player in the industrial construction landscape.
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 is a leading security solutions provider based in Stockholm, Sweden, specializing in locks, doors, gates, and entrance automation. Founded in 1994, the company has established itself as a leader in the security industry through a strong focus on innovation and a diverse product portfolio. In recent years, ASSA ABLOY has made several strategic acquisitions that enhance its position in the industrial construction market. Notable transactions include the acquisition of Jotec Service & Vertriebsges, a prominent industrial door distributor in Germany, which aims to bolster their entrance automation offerings. Additionally, the acquisition of Premier Steel Doors and Frames supports their growth initiatives in the U.S. market, further emphasizing their commitment to the industrial construction sector. Other relevant acquisitions include Leone Fence and Baron Metal Industries, which also contribute to their extensive portfolio in security and access solutions for industrial applications.
4. 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 technology and 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. Notable transactions include the acquisition of Stabalux, a company specializing in profile systems for facades, which is directly relevant to the industrial construction industry. Other acquisitions, such as Flowtech Finland Oy, Fergin Sverige AB, and Geomek Stockholms Geomekaniska AB, further demonstrate Indutrade's strategy of expanding its portfolio in sectors that support industrial applications, including construction-related technologies.
5. Afry
- Website: afry.com
- Type: Corporate
- Headquarters: Stockholm, Stockholm, Sweden
- Founded year: 1895
- Headcount: 10001+
- Number of deals in 2024: 1
- LinkedIn: afry
AFRY AB is a consulting and engineering firm based in Stockholm, Sweden, founded in 1895. The company provides a wide range of services, including sustainability consulting, digital solutions, and project management across various industries. In recent years, AFRY has made several strategic acquisitions to bolster its capabilities in areas relevant to industrial construction. For instance, the acquisition of INSUCO enhances their railway design offerings, which is a significant aspect of industrial infrastructure. Additionally, the acquisition of Advansia for $52 million in 2012 and Numerola Oy, a provider of digital solutions in wind power, demonstrates their commitment to integrating advanced technologies into their services. Other acquisitions, such as Trivalo AB and Simosol Oy, further illustrate their strategy to enhance their position in sectors that intersect with industrial construction, particularly in smart solutions and digital transformation.
6. HitecVision
- Website: hitecvision.com
- Type: Private Equity
- Headquarters: Stavanger, Rogaland, Norway
- Founded year: 1985
- Headcount: 51-200
- LinkedIn: hitecvision
HitecVision is a private equity investment firm based in Stavanger, Norway, founded in 1985. The firm specializes in the European energy sector, focusing on providing institutional capital to energy production and infrastructure projects with an emphasis on sustainability and the energy transition. HitecVision manages private equity funds and collaborates with various stakeholders to drive growth in renewable energy and related industries. Notable transactions include the acquisition of Emtunga Solutions AB, which provides modular solutions for the offshore industry, and Aluminum Offshore, which specializes in aluminum structures for the oil and gas sector. Additionally, their investment in MOMEK Group, which offers services in the industrial sector, further highlights their engagement in industrial construction activities. Their acquisition of Suretank Group, which provides storage equipment for the offshore oil and gas industry, also underscores their commitment to supporting infrastructure related to energy production.
7. 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 industrial construction sector, including the acquisition of Normek Group in 2008 and Kreate in 2014. Both companies are key players in the construction industry, with Normek Group providing construction services and Kreate specializing in infrastructure and construction projects. These investments highlight Intera Partners' commitment to the industrial construction sector, making them a relevant investor in this field.
8. 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. FSN Capital partners with companies to drive growth and transformation, catering primarily to institutional investors and pension funds seeking sustainable returns. Notably, FSN Capital has made significant investments in the industrial construction sector, including the acquisition of Instalco in March 2014, a company that specializes in installation services within the construction industry. Additionally, they acquired ViaCon in September 2018, a firm that provides infrastructure solutions, further emphasizing their engagement in the industrial construction domain. These transactions highlight FSN Capital's strategic interest in fostering growth within the industrial construction sector.
9. Bravida
- Website: bravida.se
- Type: Corporate
- Headquarters: Stockholm, Stockholm, Sweden
- Founded year: 2000
- Headcount: 10001+
- LinkedIn: bravida
Bravida is a corporate investor based in Stockholm, Sweden, founded in 2000. With over 10,000 employees, Bravida specializes in the technical services sector, focusing on the installation and maintenance of electrical, heating, sanitation, ventilation, and security systems. They serve property owners and facility managers across the Nordic region, ensuring that essential systems function reliably and efficiently. Notable transactions include the acquisition of Hangö Elektriska in 2018, which strengthened their position in southern Finland, and the acquisition of Runevads VVS Teknik AB in 2021, aimed at enhancing their service offerings in the Halland region. These strategic acquisitions reflect Bravida's commitment to expanding its capabilities in areas that are integral to industrial construction projects.
10. 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 variety of investment strategies, including private equity, real estate, infrastructure, and natural capital investments. CapMan serves institutional investors by providing access to diverse investment opportunities aimed at achieving sustainable returns. Notably, CapMan has made significant investments in the industrial construction sector, including the acquisition of NYAB, a company involved in construction and infrastructure services, for approximately $52.7 million in December 2022. Additionally, CapMan acquired Aro Systems Oy, further solidifying its presence in the industrial construction market. These transactions highlight CapMan's commitment to driving value creation in the industrial construction industry while also maintaining a broader investment portfolio.
11. 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 manufacturing industry. The company 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 primarily in the construction and real estate sectors, helping them manage people flow in urban environments. Notable transactions include the acquisition of CNIM Canada in 2011, Express Elevators Ltd. in 2015, and Janzhoff Aufzüge GmbH in 2015, among others. These acquisitions reflect KONE's strategy to enhance its market presence and capabilities in the elevator sector, which is integral to industrial construction projects.
12. 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, founded in 1906. The company specializes in providing high-tech products and services across various sectors, including automation, electrification, energy, and industrial solutions. With a focus on enhancing operational efficiency and sustainability, Addtech serves OEM manufacturers and end-users. Notable transactions include the acquisition of Duelco A/S, a supplier of electrical distribution products, which is particularly relevant to industrial construction as it supports electrical infrastructure projects. Other acquisitions, such as Elsystem i Perstorp AB and Krv, further demonstrate Addtech's commitment to expanding its capabilities in sectors that intersect with industrial construction needs.
13. 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 various sectors, including technology, consumer products, and notably, industrial construction. Their acquisition of Eleda Group in May 2020 highlights their commitment to the construction industry, while their recent investment in H2 Green Steel, which aims to develop a large-scale green steel plant, further emphasizes their engagement in industrial construction projects. Additionally, Altor's investment in KAEFER, a company that provides services in industrial insulation and construction, showcases their diverse portfolio that includes significant players in the industrial construction sector.
14. 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. The company provides a wide range of solutions aimed at enhancing energy efficiency and creating healthy indoor climates for both residential and commercial properties. Their customer base includes construction companies and contractors who rely on Lindab's products for various building projects. Notable transactions include the acquisition of Centrum Klima, a leading Polish HVAC systems manufacturer, which enhances their market presence and product offerings in the HVAC sector. Additionally, their acquisition of R-Vent, a leading manufacturer and distributor of ventilation products in the Netherlands, further solidifies their position in the industrial construction market. The acquisition of Muncholm A/S, a wholesaler for tinsmiths in Denmark, complements their existing product range and strengthens their relationships with key stakeholders in the construction industry. These strategic acquisitions reflect Lindab's commitment to expanding its influence and capabilities within the industrial construction sector.
15. 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 based in Helsinki, Finland, established in 1976. It specializes in providing 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. Notably, NIB has been involved in several significant transactions relevant to industrial construction, such as providing debt financing to Meyer Turku Oy, which raised substantial amounts in 2023 and 2024. These transactions highlight NIB's active role in supporting projects that may involve industrial construction elements, thereby reinforcing its relevance in this sector.
16. Green Landscaping
- Website: greenlandscaping.se
- Type: Corporate
- Headquarters: Skegrie, Skåne, Sweden
- Founded year: 2009
- Headcount: 201-500
- LinkedIn:
Green Landscaping Group, founded in 2009 and based in Skegrie, Skåne, Sweden, is a corporate investor specializing in landscaping and outdoor environment services. The company focuses on sustainability and quality in its service delivery, serving municipalities, businesses, and property owners. In recent years, Green Landscaping has made several strategic acquisitions to enhance its presence in the construction sector. Notably, they acquired SOREX Entreprenad AB, a land and construction company specializing in excavation works and groundwork projects, in September 2022. This acquisition, along with others such as Markbygg Anläggning Väst AB and Aktiv Veidrift, demonstrates their commitment to expanding their capabilities in industrial construction. Their decentralized business model allows them to operate through various subsidiaries across multiple countries, further solidifying their position in the market.
17. Epiroc Construction Tools
- Website: epirocgroup.com
- Type: Corporate
- Headquarters: Kalmar, Kalmar, Sweden
- Founded year: 2018
- Headcount: 10001+
- Number of deals in 2024: 3
- LinkedIn: epiroc-construction-tools
Epiroc Construction Tools is a corporate investor based in Kalmar, Sweden, specializing in mining and construction equipment. Founded in 2018, the company has quickly established itself as a key player in the industry, with over 10,000 employees and a focus on enhancing productivity and safety through innovative technology. Epiroc offers a wide range of products, including drill rigs and rock excavation tools, along with services such as maintenance and digital solutions. In recent years, Epiroc has made several strategic acquisitions to bolster its capabilities in the industrial construction sector. Notable transactions include the acquisition of JTMEC, an Australian electrical infrastructure specialist for mines, aimed at supporting the mining industry's transition to battery electrification. They also acquired RNP Mexico, enhancing their offerings in rock drills and spare parts in Latin America. Other acquisitions, such as Mobilaris Industrial Solutions and GeoScan, further demonstrate Epiroc's commitment to expanding its technological capabilities and service offerings in the mining and construction sectors.
18. Etteplan
- Website: etteplan.com
- Type: Corporate
- Headquarters: Espoo, Uusimaa, Finland
- Founded year: 1983
- Headcount: 1001-5000
- Number of deals in 2024: 3
- LinkedIn: etteplan-group
Etteplan is a Finnish technology service company founded in 1983, specializing in providing engineering solutions and software services to industrial businesses. With a workforce of 1001-5000 employees, Etteplan focuses on enhancing efficiency and sustainability through innovative technologies. Their clients span various sectors, including aerospace, automotive, and medical technology, requiring advanced technical expertise and support. In recent years, Etteplan has made several strategic acquisitions to strengthen its engineering capabilities. Notably, they acquired High Vision Engineering AB in September 2023 to enhance their presence in Sweden and bolster their automotive expertise. Additionally, they acquired BST Buck Systemtechnik GmbH in September 2021 and Koodain Solutions in February 2018, both of which contribute to their engineering service offerings. These transactions indicate Etteplan's commitment to expanding its technical expertise, which can be beneficial in the context of industrial construction projects.
19. 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. As a technical service company, Caverion specializes in building performance, maintenance, and lifecycle management, offering a range of services including technical installations, project management, and smart solutions for businesses in the construction and real estate sectors. In recent years, Caverion has made several strategic acquisitions to enhance its capabilities in the industrial construction context. Notably, they acquired VVS Teknikk Møre AS, a company specializing in ventilation, piping, and building automation, which is crucial for industrial facilities. They also acquired TMV Service Oy, part of the TM Voima group, which focuses on substation and transmission line services, further solidifying their role in the industrial construction landscape. These transactions demonstrate Caverion's commitment to enhancing efficiency and sustainability in built environments, making them a relevant player in the industrial construction sector.
Industrial Construction 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 |
| ASSA ABLOY Group | Stockholm, Stockholm, Sweden | 10001+ | 1994 | 21 |
| Indutrade Life Science | Stockholm, Stockholm, Sweden | 1001-5000 | 1978 | 14 |
| Afry | Stockholm, Stockholm, Sweden | 10001+ | 1895 | 1 |
| HitecVision | Stavanger, Rogaland, Norway | 51-200 | 1985 | 0 |
| Intera Partners | Helsinki, Uusimaa, Finland | 11-50 | 2007 | 2 |
| FSN Capital Partners | Oslo, Oslo, Norway | 51-200 | 1999 | 0 |
| Bravida | Stockholm, Stockholm, Sweden | 10001+ | 2000 | 0 |
| CapMan | Helsinki, Uusimaa, Finland | 51-200 | 1989 | 4 |
| Kone | Espoo, Uusimaa, Finland | 10001+ | 1910 | 1 |
| Addtech AB | Stockholm, Stockholm, Sweden | 1001-5000 | 1906 | 9 |
| Altor Equity Partners | Stockholm, Stockholm, Sweden | 51-200 | 2003 | 6 |
| Lindab Group | Grevie, Skåne, Sweden | 1001-5000 | 1959 | 6 |
| Nordic Investment Bank | Helsinki, Uusimaa, Finland | 201-500 | 1976 | 19 |
| Green Landscaping | Skegrie, Skåne, Sweden | 201-500 | 2009 | 0 |
| Epiroc Construction Tools | Kalmar, Kalmar, Sweden | 10001+ | 2018 | 3 |
| Etteplan | Espoo, Uusimaa, Finland | 1001-5000 | 1983 | 3 |
| Caverion | Vantaa, Uusimaa, Finland | 10001+ | 1912 | 0 |
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