2020s: New strategy and organization
In 2019, Nordstjernan became the largest shareholder in Momentum Group, one of the leading Nordic resellers of industrial consumables and industrial components. In November 2019, Momentum Group submitted a recommended public takeover bid to the shareholders of Swedol. Nordstjernan facilitated the transaction by accepting a consideration in the form of newly issued shares in Momentum Group. The offer was completed in March 2020, after which Swedol became a wholly owned subsidiary of Momentum Group. The transaction facilitated a merger of Momentum Group’s TOOLS business area and Swedol. After the merger, Nordstjernan became a principal owner in Momentum Group, with a holding of slightly more than 50 percent of both the capital and voting rights.
In November 2020, Nordstjernan submitted a public takeover bid to the shareholders of Momentum Group. Owners of nearly 3 percent of the shares accepted the offer.
The concentration of ownership continued during the first year of the 2020s through the divestment of holdings in, for example, PriceRunner and Nordic Nest.
In 2020, the first major review of Nordstjernan’s strategy since 1999 was conducted. In November, a new sector-focused organization, in which Nordstjernan’s investment operations are organized into the three business areas, Nordstjernan Investment (investments in listed and unlisted companies in the Industry, Health, Construction & Real estate and Distribution & Trade sectors), Nordstjernan Growth (investments in the Growth & New Technology sector) and Nordstjernan Credit (investments in corporate loans, bonds and preferred equity instruments).
At the same time as the new organization was launched, a new management team was formed, comprising Peter Hofvenstam (CEO), Khashayar Nikavar (head of the Industry sector), Nora F. Larssen (Health), Angela Langemar Olsson (Construction & Real estate), Johan Sjö (Distribution & Trade), Fredrik Oweson (Nordstjernan Growth/Growth & New Technology), Thomas Naess (Nordstjernan Credit) and Marion Bernhardsson (CFO).
In accordance with the new strategy, Nordstjernan invests in market-leading companies with sustainable competitive advantages in sectors with strong structural market trends, where Nordstjernan has expertise and a strong network. The newly started business area, Nordstjernan Growth, invests in competitive, rapidly expanding growth companies with the potential to be leaders in their respective areas of operation. Nordstjernan Growth is a long-term active and attractive partner to owners, contractors and company management teams in order to scale up the companies’ operations and accelerate their growth.