Stockholm, SwedenAltor Equity Partners is a Nordic-focused private equity firm making buyout and growth investments in mid-market and larger companies across industrials, consumer, business services and financial services, primarily in the Nordics and DACH region.
Altor Equity Partners is a Stockholm buyout firm with €8.3B AUM, 48 active companies and 59 exits.
- ·25 exits in the last 5 years · consistent DPI cadence.
- ·Average hold across 59 realized deals: 7 years.
- ·Fund cadence: ~4Y between vintages · last raise 2023.
Sector breakdown
107 companiesGeography breakdown
12 geographiesKey facts
Recent exits
Altor Equity Partners exited Mandatum in 2026 after 3 years.
Altor Equity Partners sold Nordic Leisure Travel Group to Norwegian Air Shuttle in 2026 after 7 years.
Altor Equity Partners sold Hamlet Protein to Royal Agrifirm Group in 2026 after 11 years.
Altor Equity Partners sold Marshall Group to HongShan Capital Group in 2025 after 2 years.
Coverage notes
6 funds tracked, 107 portfolio companies (48 active · 59 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Altor Equity Partners has raised, with its portfolio companies. Hand-checked from public filings.
Altor Fund VIBuyout2023€3.0B14 assets2 exitsBuyout2023 · 3yr€3.0B142
Unrealized
14 held| Company | Entry |
|---|---|
| Aira ClimateTech · Sweden | 2023 |
| CCM Hockey Consumer · Canada | 2024 |
| Circulose ClimateTech · Sweden | 2024 |
| Elicron Industrials · Sweden | 2024 |
| ElteraGruppen Construction · Norway | 2026 |
| Evac Industrials · Finland | 2025 |
| F24 SaaS · Germany | 2024 |
| FLSmidth Industrials · Denmark | 2023 |
| Imbox Consumer · Denmark | 2025 |
| Imbox Protection Consumer · Denmark | 2025 |
| Kommunalkredit Financials · Austria | 2024 |
| Sertion Construction · Sweden | 2026 |
| Sleep Cycle HealthTech · Sweden | 2026 |
| VTU Business Services · Austria | 2023 |
Realized
2 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Mandatum Financials · Finland | 2023 | 2026 | Secondary | – | – |
| Marshall Group Consumer · Sweden | 2023 | 2025 | Trade Sale | HongShan Capital Group | – |
Altor Fund VHarvestingBuyout2019€2.5B19 assets6 exitsBuyout2019 · 7yr€2.5B196
Unrealized
19 held| Company | Entry |
|---|---|
| Aarke Consumer · Sweden | 2020 |
| Audiowell TMT · Sweden | 2021 |
| Eidra Business Services · Sweden | 2019 |
| Gunnebo Industrials · Sweden | 2020 |
| H2 Green Steel ClimateTech · Sweden | 2021 |
| iDeal of Sweden Consumer · Sweden | 2019 |
| Kaefer Industrials · Germany | 2021 |
| Multi-Wing Industrials · Denmark | 2021 |
| Network of Design Consumer · Sweden | 2020 |
| Nordic Climate Group Construction · Sweden | 2022 |
| QNTM Group SaaS · Sweden | 2021 |
| Raw Fury Gaming · Sweden | 2021 |
| Rillion SaaS · Sweden | 2021 |
| Stegra ClimateTech · Sweden | 2021 |
| Svea Solar ClimateTech · Sweden | 2022 |
| TGS Energy · Norway | 2019 |
| Toteme Consumer · Sweden | 2021 |
| Totême Consumer · Sweden | 2021 |
| Vianode ClimateTech · Norway | 2022 |
Realized
6 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Eleda Construction · Sweden | 2020 | 2024 | Secondary | Bain Capital | – |
| Nordic Leisure Travel Group Hospitality · Sweden | 2019 | 2026 | Trade Sale | Norwegian Air Shuttle | – |
| Nordic Tyre Group Business Services · Sweden | 2019 | 2024 | Secondary | Axcel | – |
| Oceansapart E-commerce · Germany | 2021 | 2024 | Trade Sale | SNOCKS | – |
| OX2 ClimateTech · Sweden | 2020 | 2024 | Trade Sale | EQT | – |
| Silo AI AI/ML · Finland | 2022 | 2024 | Trade Sale | AMD | – |
Altor Fund IVHarvestingBuyout201411 assets10 exitsBuyout2014 · 12yr–1110
Unrealized
11 held| Company | Entry |
|---|---|
| Dale of Norway Consumer · Norway | 2017 |
| Faun Gruppen Construction · Norway | 2018 |
| Flex IT IT Services · Netherlands | 2016 |
| Iyuno Business Services · South Korea | 2017 |
| Ludvig & Co Business Services · Sweden | 2018 |
| Norican Group Industrials · Denmark | 2015 |
| O'Learys Group Hospitality · Sweden | 2018 |
| Transcom Business Services · Sweden | 2015 |
| Tresu Industrials · Denmark | 2017 |
| Trioworld Industrials · Sweden | 2018 |
| Zahneins Healthcare · Germany | 2018 |
Realized
10 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Centralpoint IT Services · Netherlands | 2016 | 2021 | Trade Sale | Dustin Group | – |
| CTEK Mobility · Sweden | 2017 | 2021 | IPO | – | – |
| Gnist Barnehager Education · Norway | 2018 | 2021 | Trade Sale | Norlandia Preschools | – |
| Hamlet Protein Agriculture · Denmark | 2015 | 2026 | Trade Sale | Royal Agrifirm Group | – |
| Nordic Trustee Financials · Norway | 2017 | 2021 | Trade Sale | Ocorian | – |
| Nova Austral Agriculture · Chile | 2014 | 2024 | – | – | – |
| Retta Real Estate · Finland | 2016 | 2025 | Secondary | Adelis Equity Partners | – |
| RevolutionRace E-commerce · Sweden | 2018 | 2021 | IPO | – | – |
| Sbanken ASA Fintech · Norway | 2016 | 2021 | Trade Sale | DNB Bank | – |
| TGS (prev. Spectrum) Energy · Norway | 2014 | 2019 | Trade Sale | TGS | – |
Altor Fund IIIHarvestingBuyout20084 assets18 exitsBuyout2008 · 18yr–418
Unrealized
4 held| Company | Entry |
|---|---|
| C WorldWide Financials · Denmark | 2009 |
| Haarslev Industries Industrials · Denmark | 2012 |
| Meltwater Data & Analytics · Norway | 2012 |
| Rossignol Group Consumer · France | 2013 |
Realized
18 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| AGR Petroleum Services Energy · Norway | 2010 | 2011 | Trade Sale | Silverfleet Capital | – |
| Åkers Group Industrials · Sweden | 2008 | 2016 | Trade Sale | Ampco-Pittsburgh Corporation | – |
| Ålö Agriculture · Sweden | 2011 | 2020 | Trade Sale | JOST Werke AG | – |
| Apotek Hjärtat Consumer · Sweden | 2009 | 2014 | Trade Sale | ICA Gruppen | – |
| Carnegie Financials · Sweden | 2009 | 2025 | Trade Sale | DNB Bank ASA | – |
| Carnegie Investment Bank Financials · Sweden | 2009 | 2024 | Trade Sale | DNB Bank | – |
| Curato Healthcare · Norway | 2010 | 2014 | Trade Sale | Unilabs | – |
| Eltek Group Industrials · Norway | 2010 | 2015 | Trade Sale | Delta Electronics | – |
| Ewos Agriculture · Norway | 2013 | 2015 | Trade Sale | Cargill | – |
| Lindorff Group Business Services · Norway | 2008 | 2014 | Secondary | Nordic Capital | – |
| Max Matthiessen Financials · Sweden | 2009 | 2014 | Trade Sale | Willis Towers Watson | – |
| Norsk Gjenvinning Business Services · Norway | 2011 | 2017 | Secondary | Summa Equity | – |
| ONE Industrials · Sweden | 2011 | 2020 | Trade Sale | Eleda | – |
| OptiGroup Business Services · Sweden | 2010 | 2022 | Trade Sale | FSN Capital | – |
| Orchid Orthopedic Solutions MedTech · US | 2011 | 2019 | Secondary | Nordic Capital | – |
| SATS Consumer · Norway | 2011 | 2019 | IPO | – | – |
| Sonion MedTech · Denmark | 2009 | 2014 | Secondary | Novo A/S | – |
| XXL Consumer · Norway | 2010 | 2025 | Trade Sale | Frasers Group | – |
Altor Fund IIRealizedBuyout20060 assets13 exitsBuyout2006 · 20yr–013
Realized
13 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Bruynzeel Industrials · Netherlands | 2007 | 2021 | Secondary | Gilde Equity Management | – |
| Dustin E-commerce · Sweden | 2006 | 2015 | IPO | – | – |
| Euro Cater Business Services · Denmark | 2007 | 2016 | Secondary | IK Investment Partners | – |
| Helly Hansen Consumer · Norway | 2006 | 2012 | Trade Sale | Ontario Teachers' Pension Plan | – |
| Navico Industrials · Norway | 2006 | 2021 | Trade Sale | Brunswick Corporation | – |
| Nimbus Boats Consumer · Sweden | 2006 | 2012 | IPO | – | – |
| NorthStar Industrials · Sweden | 2007 | 2019 | Trade Sale | EnerSys | – |
| OW Bunker Energy · Denmark | 2007 | 2014 | IPO | – | – |
| PIAB Industrials · Sweden | 2006 | 2016 | Secondary | EQT | – |
| Qmatic Software · Sweden | 2007 | 2025 | Trade Sale | Valsoft Corporation | – |
| SPT Group Software · Norway | 2006 | 2012 | Trade Sale | Schlumberger | – |
| Vatus Healthcare · Sweden | 2007 | 2009 | Trade Sale | Papyrus AB | – |
| Wrist Ship Supply Logistics · Denmark | 2007 | 2025 | Trade Sale | J.F. Lehman & Company | – |
Altor Fund IRealizedBuyout20030 assets10 exitsBuyout2003 · 23yr–010
Realized
10 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Aalborg Industries Industrials · Denmark | 2005 | 2011 | Trade Sale | Alfa Laval | – |
| ACO Consumer · Sweden | 2003 | 2004 | Trade Sale | Omega Pharma | – |
| Aco Hud Consumer · Sweden | 2003 | 2004 | Trade Sale | Omega Pharma | – |
| Byggmax Consumer · Sweden | 2005 | 2010 | IPO | – | – |
| Enhanced Drilling Energy · Norway | 2004 | 2019 | Secondary | EV Private Equity (Energy Ventures) | – |
| Ferrosan Consumer · Denmark | 2005 | 2011 | Trade Sale | Pfizer | – |
| Ferrosan Medical Devices MedTech · Denmark | 2005 | 2016 | Trade Sale | Consortium of Nordic family offices | – |
| Meyn Industrials · Netherlands | 2005 | 2012 | Trade Sale | CTB Inc (Berkshire Hathaway) | – |
| Palodex MedTech · Finland | 2005 | 2009 | Trade Sale | Danaher | – |
| Relacom Telecom · Sweden | 2005 | 2012 | Trade Sale | Nordea, DNB NOR and HSH Nordbank | – |
About Altor Equity Partners
Altor Equity Partners is the largest Nordic private equity firm with €12 billion plus of committed capital across seven funds as of December 2024, headquartered in Stockholm. The firm was launched in 2003 by Harald Mix and founding partners with Nordic Capital and Industri Kapital roots, and has built a 20 plus year track record in Nordic and DACH mid-to-large-cap buyouts. Altor remains a partner-owned independent firm, with Altor Fund VI closing in January 2024 at its €3 billion hard cap.
Investment thesis
Altor deploys capital through seven flagship funds (Fund I through Fund VI plus the dedicated Altor Climate Transition / ACT fund) targeting majority buyouts of Nordic and DACH mid-to-large-cap companies. Sector focus spans industrial, financial services, consumer and fashion, software and IT services, renewable energy and climate transition categories, with geographic deployment across Nordics core (Sweden, Norway, Finland, Denmark) plus DACH and selective broader European markets. The firm's dedicated ACT fund focuses exclusively on green transition opportunities, complementing the flagship buyout franchise with sector-specialist climate investment capacity.
Recent activity
Recent realised exits include specialty protein (2026), insurance (2026), apparel and consumer (2025), real estate services (2025) and retail and sporting goods (2025). Recent acquisitions include maritime tech (Evac, 2025), industrial components (Eltera, 2025), sportswear (CCM Hockey, 2024) and crisis communications software (F24, 2024). Altor continues deploying capital across its Fund VI vintage and dedicated climate transition strategy.
Frequently asked questions
- What investment strategy does Altor Equity Partners focus on?
- Altor Equity Partners focuses on Buyout strategies in the private equity space.
- How many portfolio companies does Altor Equity Partners have?
- Altor Equity Partners has 48 active portfolio companies and 59 completed exits and 6 funds tracked on GP Intel.
- Where is Altor Equity Partners headquartered?
- Altor Equity Partners is headquartered in Stockholm, Sweden.
- What is Altor Equity Partners's assets under management?
- Altor Equity Partners manages approximately €8.3B in assets under management.
- When was Altor Equity Partners founded?
- Altor Equity Partners was founded in 2003.
- What sectors does Altor Equity Partners invest in?
- Altor Equity Partners invests across Industrials, Consumer, Business Services, Financials.
- What are Altor Equity Partners's recent exits?
- Recent realized exits by Altor Equity Partners include: Nordic Leisure Travel Group (2026) to Norwegian Air Shuttle; Hamlet Protein (2026) to Royal Agrifirm Group; Marshall Group (2025) to HongShan Capital Group; Retta (2025) to Adelis Equity Partners; Carnegie (2025) to DNB Bank ASA; XXL (2025) to Frasers Group; Qmatic (2025) to Valsoft Corporation; Wrist Ship Supply (2025) to J.F. Lehman & Company.
Similar firms
Other private equity firms tracked on GP Intel.
