Nordlo targets Germany with EUR 140 million capital injection
IT company Nordlo has secured a EUR 140 million capital injection from its owners to fund expansion into Germany and Northern Europe.
Swedish IT services company Nordlo is set to expand into Germany and further into Northern Europe, backed by a EUR 140 million capital injection from its owners. The funds will be channeled through a new investment vehicle established by private equity firm FSN Capital Partners.
According to CEO Fredrik Almén, the new capital will enable larger acquisitions and establish a presence in new European markets. Germany has been identified as a primary target due to its IT market similarities with Sweden and customer needs that align with Nordlo's business model.
Founded in 2018, Nordlo has doubled its turnover and employee count in Sweden and Norway through a combination of organic growth and 15 acquisitions. The company's approach combines the resources of a large IT group with close customer proximity.
FSN Capital Partners notes that increasing digitalization, cloud services, and security requirements create favourable market conditions for Nordlo in the European IT services sector. Nordlo currently employs approximately 900 people and reports an annual turnover of SEK 2.1 billion.