Altor to acquire majority stake in Nordic Climate Group

Private equity firm Altor is set to become the new majority owner of Nordic Climate Group, a company specializing in climate and cooling solutions across the Nordic region. The investment is intended to bolster the company's growth trajectory and its mission to provide sustainable and energy-efficient solutions.

Founded in May 2021, Nordic Climate Group has experienced rapid expansion in its first year of operation. The group comprises 55 local entrepreneurial companies in Sweden and Norway. It has since doubled its turnover and workforce, now employing over 800 individuals and reporting an annual revenue of SEK 2.2 billion, establishing itself as a market leader in the Nordic region.

Nordic Climate Group offers a range of services, including complex cooling systems for the process and food industries, chilled seawater systems, and sustainable heating solutions such as commercial heat pump installations. Altor's involvement is expected to facilitate further geographical expansion and enhance the company's market presence.

The transaction is subject to regulatory approval from competition authorities. The current owners and management will retain a significant stake in the company. This partnership is anticipated to support Nordic Climate Group's continued growth and its commitment to offering environmentally friendly solutions.