The metal packaging industry in the Nordics consists of companies that design and produce various packaging solutions primarily using metals such as aluminum and steel. This sector includes manufacturers producing cans, containers, and closures for food and beverage, cosmetic, and industrial markets. With an increasing focus on sustainability, companies are investing in recycling initiatives and innovations to create lightweight and eco-friendly packaging. In response to changing consumer preferences and regulatory pressures, the industry is evolving, and investments in intelligent manufacturing processes are on the rise, positioning it for growth in the coming years.


In examining metal packaging investments in the Nordics, we find a blend of corporate and private equity investors headquartered mainly in Stockholm, Oslo, and Helsinki. These investors range from established firms with large portfolios to newer funds focusing on innovative startups. With firm foundations ranging from the late 20th century to recent years, these investors vary in size but share a common aim of driving growth in a dynamic market. In 2024 alone, they collectively engaged in multiple investments, emphasizing the sector's strong interest and potential.


Top 9 Metal Packaging 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 founded in 1994, based in Stockholm, Sweden. It specializes in private equity, infrastructure, real estate, growth equity, and venture capital, serving institutional investors with expertise in managing diverse investment portfolios across multiple sectors and geographies. Notably, EQT has made significant investments in the packaging industry, including the acquisition of Færch Plast A/S, a leader in rigid plastic packaging, and Duni AB, which operates in the packaging sector. These transactions highlight EQT's strategic interest in the packaging market, which may extend to metal packaging as part of their broader investment strategy.


2. 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 a larger industrial group that focuses on developing and acquiring companies with high technical expertise across various sectors, including technology and industrial products. Notably, Indutrade has made significant acquisitions in the metal packaging sector, such as Verbeeck Packaging NV, which specializes in packaging solutions. This acquisition, along with others like BL Products AB and Beldam Crossley, showcases Indutrade's strategy of expanding its portfolio in industries that require innovative and reliable products. Their decentralized structure allows subsidiaries to operate independently while benefiting from the group's resources, enhancing their ability to adapt to market demands.


3. 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 involved in several transactions relevant to the packaging industry, including a $5 million Series A funding round for Better Packaging Co., which aims to expand its global reach. Additionally, they participated in a Pre-Seed round for Metalchemy, a company that likely operates within the metal packaging sector. These investments highlight Katapult's engagement in the packaging industry, particularly in innovative and sustainable solutions.


4. Elanders

  • Website: elanders.com
  • Type: Corporate
  • Headquarters: Gothenburg, Västra Götaland, Sweden
  • Founded year: 1908
  • Headcount: 5001-10000
  • Number of deals in 2024: 2
  • LinkedIn: elanders

Elanders is a corporate investor based in Gothenburg, Sweden, founded in 1908. The company specializes in logistics and printing, offering integrated solutions within supply chain management across various industries, including Automotive, Electronics, and Health Care. Elanders has made significant strides in the packaging sector through strategic acquisitions. Notably, in December 2015, they acquired Schmid Druck + Medien, a company known for advanced packaging and unique print solutions, as part of their strategy to expand in niche packaging products. Additionally, their acquisition of Spreckley in September 2017 aimed to enhance their position in the premium packaging market. These transactions highlight Elanders' commitment to growing its packaging capabilities, which includes potential involvement in metal packaging.


5. 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. The firm has a strong presence in the Nordic markets and leverages its expertise to manage funds and drive value creation for its clients. Notably, CapMan has made significant investments in the metal packaging context, including the acquisition of Walki Group Oy in 2007, a company involved in packaging solutions, and Metal Power Technology Sweden in 2009, which is relevant to metal applications. These transactions highlight CapMan's engagement in sectors that intersect with metal packaging, reinforcing its position as a potential investor in this industry.


6. 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 across various sectors, including IT services and property maintenance. Notably, they acquired Johnson Metall in 2007, a company involved in the metal industry, which highlights their engagement in sectors relevant to metal packaging. Additionally, their acquisition of other companies like Presserv AS and Smart Retur showcases their strategy of investing in businesses that enhance operational efficiency and market presence, further indicating their capability to invest in related industries.


7. 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 and create long-term value through partnerships with passionate founders. Notably, Industrifonden has invested in Freemelt, a Sweden-based metal 3D printing company, which highlights their engagement in the metal sector. This investment aligns with the metal packaging industry, as 3D printing technology can be applied to create metal packaging solutions. Additionally, their involvement in other sectors demonstrates a diverse investment strategy, but their connection to metal through Freemelt is particularly relevant.


8. Norsk Hydro

  • Website: hydro.com
  • Type: Corporate
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1905
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: norsk-hydro

Norsk Hydro ASA, founded in 1905 and based in Oslo, Norway, is a leading aluminium manufacturer and renewable energy provider. The company specializes in producing low-carbon and recycled aluminium products, catering to various sectors including automotive, construction, and notably, packaging. Hydro is committed to sustainability and innovation, focusing on recycling and renewable energy solutions to meet the growing demand for eco-friendly materials. Recently, Hydro has made strategic acquisitions to bolster its position in the market, including the acquisition of Alumetal S.A., which is expected to enhance its capabilities in the packaging sector. Additionally, Hydro's acquisition of Wells Aluminium Corporation and Hueck System's building systems and extrusion business further demonstrates its commitment to expanding its operations in aluminium production, which is integral to metal packaging. These transactions highlight Hydro's strategic focus on enhancing its product offerings and market presence in the aluminium industry, particularly in areas relevant to metal packaging.


9. EQT Ventures

  • Website: eqtventures.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 28
  • LinkedIn: eqt-ventures

EQT Ventures is a venture capital firm based in Stockholm, Sweden, founded in 2015. The firm specializes in investing in early-stage tech startups, providing not only financial support but also operational assistance to entrepreneurs. EQT Ventures connects startups with a global network of industry experts and resources to foster growth and innovation. Among their notable transactions, they led a €15 million Series A funding round for Packmatic, a Berlin-based digital packaging marketplace, which highlights their engagement in the packaging sector. This investment reflects their interest in innovative solutions within the packaging industry, including metal packaging. Additionally, EQT Ventures has participated in various other funding rounds across different sectors, showcasing their diverse investment strategy.



Metal Packaging Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
Indutrade Life ScienceStockholm, Stockholm, Sweden1001-5000197814
KatapultOslo, Oslo, Norway11-5020178
ElandersGothenburg, Västra Götaland, Sweden5001-1000019082
CapManHelsinki, Uusimaa, Finland51-20019894
NorvestorOslo, Oslo, Norway11-5019893
IndustrifondenStockholm, Stockholm, Sweden11-5019799
Norsk HydroOslo, Oslo, Norway10001+19051
EQT VenturesStockholm, Stockholm, Sweden11-50201528


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