Nordlo Expands to Germany with EUR 140 Million Investment
Swedish IT services company Nordlo is set to expand into Germany, backed by a EUR 140 million investment from its owner FSN Capital Partners, aimed at accelerating growth in Northern Europe.
Nordlo, an IT services provider with a significant presence in Sweden and Norway, is embarking on a new phase of international expansion targeting the German market. The company announced that its owner, FSN Capital Partners, has committed EUR 140 million (approximately SEK 1.5 billion) to a new fund to facilitate this growth.
This capital injection is intended to accelerate Nordlo's strategy of expanding through larger acquisitions and establishing a stronger foothold in additional European countries. CEO Fredrik Almén stated that companies of all sizes are seeking close IT partnerships, and Nordlo aims to meet this demand.
Almén highlighted Germany as a key target market, citing similarities between its IT landscape and customer needs compared to Nordlo's established markets in Sweden and Norway. The company believes its model, which combines the scale of a large IT group with local customer proximity, is well-suited for the German market.
Founded in 2018 through the merger of several IT firms, Nordlo currently operates in Sweden and Norway, focusing on cloud and infrastructure services. With approximately 900 employees and a turnover of SEK 2.1 billion, the company plans to leverage the new investment to acquire larger players not only in the Nordic region but also across new European territories.