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We develop leading high-quality companies

We invest in companies with sustainable competitive advantages in sectors with strong structural market trends, where we can contribute with our experience and networks.

Active ownership model

Nordstjernan is an active owner that generates value through significant holdings and long-term commitment to companies that are leaders or have potential to be leaders in their fields. We are typically the largest owner but not necessarily the majority owner.

Nordstjernan has a flexible ownership mandate and invests in both listed and unlisted companies where we can be the sole owner, the largest owner, joint owner or a significant owner. However, regardless of the ownership role, Nordstjernan has a clear focus on achieving the company’s best potential.

Nordstjernan actively participates in the value generation and strategic development of our companies, for example through the professional work of nomination committees to ensure that the board composition of these companies is appropriate. We take an active role in board work, either on our own or through our industrial advisors. We contribute with our own analysis, industrial networks and organization by challenging, supporting and developing the companies. Nordstjernan develops value creation plans for each company.

Investment strategy

Nordstjernan’s investments are divided into sectors: Industry & Trade, Health, Construction & Real Estate, and Growth & New Technology. Each sector builds on established networks and shares experiences in order to optimally support and develop our companies.

Nordstjernan has a sizeable capital base, with a flexible investment mandate that can always be adapted to situations in order to best support value creation.

Investments in shareholdings are normally in the range of SEK 500 million to SEK 3 billion. We can also make smaller investments if we see clear grounds for supplementary investments. We invest in both mature and high-growth companies. These may include companies that require external capital, industrial expertise and networks either to continue expanding through organic growth or add-on acquisitions or to implement cost savings and capital rationalization measures.

Another scenario may be where a company is about to implement an ownership change and is seeking a new long-term owner. As a family-controlled owner company, Nordstjernan offers unique and close cooperation with founders, entrepreneurs and families to drive the continued development of these companies and continuously strengthen and improve them. We have no predetermined exit strategy. Our ownership model is based on fundamental corporate development rather than financial changes.

Organization

Nordstjernan’s operations are based on its role as an active owner. The company has some 30 employees. Many of these individuals have a background in management, entrepreneurship and corporate development. Others have expertise in mergers, acquisitions, financing, communications or accounting.

We have three business areas:

Nordstjernan Investment makes equity investments in listed and unlisted companies with head offices in the Nordic region. The focus is on market-leading companies with sustainable competitive advantages in niches with strong structural market trends.

Nordstjernan Growth makes equity investments in high-growth companies in the Growth & New Technology sector. The focus is on rapidly expanding companies with competitive advantages that have potential to be scaled up. For further information, see www.nordstjernangrowth.se

Nordstjernan Credit is a business area within Nordstjernan and a rapidly expanding investment partnership that invests in high-yield debt instruments issued by companies in northwest Europe with the aim of creating stable, long-term value growth for our owners. Nordstjernan Credit mainly invests in high-yield corporate bonds that finance growth, acquisitions, reorganization and refinancing of private and public companies.

Our sectors

Industry & Trade

The Industry & Trade sector focuses on investments in leading companies with established operations and long-term potential combined with rapidly expanding niche companies.

Health

The Health sector focuses on investments in established, competitive companies with global growth opportunities that operate within one of the sector's focus areas, such as medical devices. 

Construction & Real Estate

The Construction & Real Estate sector focuses on investments in leading construction companies, residential developers and real-estate companies together with rapidly expanding small companies that offer related services.

Growth & New Technology

The Growth & New Technology sector focuses on investments in high-growth companies that have competitive advantages with the potential to be scaled up. For further information, see www.nordstjernangrowth.se

Nobia is one of Europe’s largest kitchen specialists that designs, manufactures and sells kitchens. The company markets kitchens under some 20 different brands, including Marbodal, HTH and Magnet. At the end of 2023, Nordstjernan was the company’s largest shareholder. Nobia is listed on the Stockholm Stock Exchange.

For more information, visit
www.nobia.com

Attendo is Sweden's oldest and Nordic region’s largest care company, with approximately 700 operations and 30 000 co-workers in Sweden, Denmark and Finland. The company provides care services for the elderly and people with disabilities, individual and family care, social psychiatry, rehabilitation, and treatment centers. Attendo strives to contribute to increased accessibility in care as well as develop ways of working and contribute to customers, municipalities, and the community at large. Attendo is listed on the Stockholm Stock Exchange.

For more information, visit
www.attendo.com

Rosti is a global contract manufacturer of injection-molded plastic components with over 80 years of experience. The company is a partner to its customers through the whole value chain and focuses on developing sustainable customer-specific solutions that range from development, design and innovation to finished product - "from concept to reality". Rosti offers integrated complete solutions, technically challenging industrial components as well as products for the medical market. At the end of 2023, Rosti was wholly owned by Nordstjernan.

For more information, visit
www.rosti.com

Roaring is a Swedish data and information company that provides digital services to companies with a need to automate customer data processes and know-your-customer (KYC) checks. Amongst a selection of API-based services, the company offers automated anti-money laundering (AML) monitoring.

For more information, visit

https://www.roaring.io

Dacke Industri develops and invests in leading technical industrial companies focusing on own products, customer-specific components and high performance systems. The company’s vision is to be one of the leading players in the Nordic region and Europe and to achieve a strong global market position in specific niches and areas of application. Dacke Industri operates via its subsidiaries in the Nordic region, Europe, the US and Asia. At the end of 2023, Dacke Industri was wholly owned by Nordstjernan.

For more information, visit
www.dackeindustri.com

Prima Vård is a Swedish health care company active in primary care, women and child health care, psychiatric health, as well as occupational health. The company has approximately 150 care units and about 500 000 listed patients in half of Sweden's regions. Prima Vård includes a number of primary care units, Mama Mia, BB Stockholm Family, PRIMA Barn- och Vuxenpsykiatri and Brolin Westrell. Nordstjernan is a majority owner in Prima Vård. The other owners include the Lewné and Wahlström/Laurin families.

For more information, visit
www.primavard.se

Sunparadise develops, manufactures and sells villa, balcony, and facade glazing products. The company operates in the DACH region (Germany, Austria and Switzerland), Scandinavia as well as selected countries in the rest of Europe. Customers of Sunparadise include retailers, construction companies and tenant-owner associations. The company’s production operations are conducted in Turkey and Poland. At the end of 2023, Sunparadise was wholly owned by Nordstjernan.


For more information, visit
www.sunparadise.com

Bonava is one of the largest housing developers in Northern Europe with approximately 8 000 housing in ongoing production. The company develops and sells housing units to consumers and investors in selected markets in Germany, Sweden, Finland, Norway, Estonia, Latvia and Lithuania. Nordstjernan is the company’s largest shareholder. Bonava is listed on the Stockholm Stock Exchange. 

For more information, visit
www.bonava.com

Etac is a world-leading developer and supplier of assistive devices for people with functional variations and products for patient transfers. The product portfolio includes assistive devices for children and adolescents, manual wheelchairs, pressure-compensating devices, hygiene products and a broad portfolio of transfer devices, including air-assisted transfer, for hospitals, nursing homes and home use. Etac’s head office is in Sweden and the company has manufacturing and R&D units in Scandinavia, Poland and North America. Over 90 percent of revenue comes from outside Sweden, more than half from the USA. At the end of 2023, Etac was wholly owned by Nordstjernan.

For more information, visit
www.etac.com

Alligo is a leading specialist in workwear, personal protective equipment, tools and supplies in the Nordic region. The company offers tools and necessities as well as related services to professional end users within the industry, construction, and public sectors. Alligo operates via its concept brands Swedol, TOOLS, Grolls and Univern plus several local specialist brands. Alligo is listed on the Stockholm Stock Exchange.

For more information, visit
www.alligo.com/en

Norva24 is the northern European market leader in maintenance and reparation of underground infrastructure. The company operates in Norway, Sweden, Denmark and Germany with an extensive offering of socially important and necessary services to ensure function and lifespan of underground pipe systems. Norva24 is listed in Stockholm.

For more information, visit

www.norva24.com

Insurello is a Swedish insuretech company that provides a consumer service that helps private individuals receive the correct compensation for different insurance claims. Through a scalable and automated process, Insurello helps individuals with the entire case management process with the insurance companies, and can also locate unknown insurance policies that the customer is unaware of.

For more information, visit
www.insurello.se

Momentum Group consists of a number of companies which together constitute one of the Nordic region’s leading suppliers of industrial components and other related services. With specialist technical competence within select niches, the company's vision is to be the best partner to customers in the industrial sector. Momentum Group is listed on the Stockholm Stock Exchange.

For more information, visit
www.momentum.group/en

Zimpler is a Swedish company that simplifies transactions through direct bank payments (so called account-to-account A2A). Direct bank payments are user-friendly, secure and cost efficient, and the company provides payments to some ten markets today. 

For more information, visit
www.zimpler.com

Aidian is a Finnish diagnostics company that develops, manufactures and sells instruments and tests that are used in such fields as primary care. Aidian’s offering of tests addresses several global health problems such as antimicrobial resistance (AMR), diabetes and colorectal cancer. Aidian has its headquarters in Espoo, Finland, and in addition has a local presence in another twelve countries and a global presence via distributors in over 60 export markets. Nordstjernan owns 67 percent of both the capital and voting rights in Aidian. The remaining 33 percent is owned by the Norwegian family owned investment company Ferd.

For more information, visit
www.aidian.eu

Mentimeter is a Sweidsh company that offers a user-friendly, web-based tool to create interactivity and engagement in both physical and digital meetings. The company has a global client and user-base, ranging from private individuals to large international companies. 

For more information, visit

www.mentimeter.com

engcon is a world-leading manufacturer of tiltrotators and associated tools that increase an excavator's efficiency, profitability, safety and sustainability. engcon offers a unique tiltrotator system which transforms the excavator into a tool carrier that can replace other machines. The company has production in Sweden and Poland as well as local sales offices and a network of dealers around the world. engcon is listed on the Stockholm Stock Exchange. 

For more information, visit

www.engcongroup.com

Oden Technologies is a British-American data and AI software company servicing the manufacturing industry. Through the company's AI-driven software solution, large amounts of manufacturing data are analyzed and then translated into actionable recommendations for the machine operators. 

For more information, visit:

www.oden.io

Gnothis was formed in 2015, specializes in DNA sequencing and has a laboratory in Stockholm, Sweden. Gnothis is strongly technology driven and has its roots in interdisciplinary research in the fields of physics, chemistry, biology and medicine at Karolinska Institutet. By combining cutting-edge science from these different areas, Gnothis is developing a completely new product for extremely precise analysis of single molecules, for example, for genetic analysis in connection with DNA sequencing.

For more information, visit
www.gnothis.se

Ascilion is a Swedish medtech company founded in 2012. The company has developed and patented a technology that uses an array of hollow microneedles to extract the interstitial fluid (ISF) that surrounds the body’s cells and that is a good carrier of biomarkers. Ascilion’s technology has numerous fields of application, including within several branches of medical diagnostics.

For more information, visit
www.ascilion.com

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