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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 acts as a partner to companies in need of various kinds of financing solutions for growth, acquisitions, reorganization and refinancing. Investments are typically made in high-yield corporate loans, bonds or preferred equity instruments in 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 health and social care as well as medical devices, primarily platform investments in large companies combined with thematic investments in small companies with significant potential.

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 and designs, manufactures and sells kitchens. The company markets kitchens under some 20 different brands, including Marbodal, HTH and Magnet. At the end of 2022, Nordstjernan was the company’s largest shareholder, with 25 percent of both the capital and voting rights. Nobia is listed on the Stockholm Stock Exchange.

For more information, visit
www.nobia.com

Attendo is one of the Nordic region’s largest care companies, with approximately 700 units in Sweden, Finland, and Denmark. The company provides care services for the elderly and people with disabilities, as well as individual and family care. At the end of 2022, Nordstjernan was the company’s largest shareholder, with 18 percent of both the capital and voting rights. Attendo is listed on the Stockholm Stock Exchange.

For more information, visit
www.attendo.com

NCC is one of the largest construction and real estate development companies in the Nordic region. The business includes construction of residential, office and industrial buildings and roads, as well as development of commercial facilities. NCC is also a producer of asphalt and gravel products and performs paving work. At the end of 2022, Nordstjernan was NCC’s largest shareholder, with 9 percent of the capital and 24 percent of the voting rights. NCC is listed on the Stockholm Stock Exchange.

For more information, visit
www.ncc.group

Rosti develops and manufactures injection-molded plastic components. The company’s product range includes container closures and lids for the food industry, as well as components and complete products for selected consumer and industrial sectors. The company has manufacturing operations in China, Malaysia, Poland, Romania, the UK, Sweden, Turkey and Germany. At the end of 2022, Rosti was wholly owned by Nordstjernan.

For more information, visit
www.rosti.com

Roaring is a Swedish fintech company that provides digital services to companies in all sectors with a need to automate customer data processes and know-your-customer (KYC) checks. Roaring offers highly sought-after services in such areas as automated anti-money laundering (AML) monitoring.

https://www.roaring.io

Dacke Industri develops and acquires technology companies focusing on the design, manufacture and sale of customer-specific components and 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 2022, Dacke Industri was wholly owned by Nordstjernan.

For more information, visit
www.dackeindustri.com

Prima Vård is active in primary care, maternity and child health care, psychiatry, as well as occupational health care in some 30 locations in Stockholm and southern Sweden, where some of the operations are conducted under the brand name Mama Mia. Prima Vård currently has 80 care units with approximately 300,000 listed patients in five regions. At the end of 2022, Nordstjernan owned 84 percent of both the capital and voting rights 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 balcony, facade and terrace glazing products. The company operates in Scandinavia, the DACH region (Germany, Austria and Switzerland), 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 2022, 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 some 10,000 housing units under construction. The company develops and sells housing units to consumers and investors in selected markets in Germany, Sweden, Finland, Denmark, Norway, St. Petersburg, Estonia and Latvia. At the end of 2022, Nordstjernan was the company’s largest shareholder, with 25 percent of the capital and 49 percent of the voting rights. Bonava is listed on the Stockholm Stock Exchange. In March 2022, Bonava decided to close its operations in St. Petersburg.

For more information, visit
www.bonava.com

Etac is a supplier of assistive devices that offers products aimed at mobility-impaired individuals, as well as products for hospitals, nursing homes and home use. Etac is a global leader in the field of assistive devices for children and adolescents, as well as in the field of air-assisted transfer devices through its subsidiary HoverTech International. The company also has global sales of manual wheelchairs, other mobility devices, hygiene products and pressure-compensating devices. Etac’s head office is in Sweden and the company has manufacturing and R&D units in Scandinavia, Poland and North America. At the end of 2022, 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. Alligo operates via its concept brands Swedol, TOOLS, Grolls and Univern plus several local specialist brands.

At the end of 2022, Nordstjernan was Alligo’s largest shareholder with 55 percent of the capital and 50 percent of the voting rights. Alligo is listed on the Stockholm Stock Exchange.

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

Norva24 is the market leader in community-critical services for maintenance of underground infrastructure, such as pipe services, draining services and high-pressure washing, to private actors, companies and the public sector. Norva24 operates in Norway, Germany, Sweden and Denmark and has an active acquisition strategy focusing on both strengthening its position in existing markets and expanding into new ones. At the end of 2022, Nordstjernan was the company’s third-largest shareholder, with 9 percent of both the capital and voting rights. Norva24 was listed on the Stockholm Stock Exchange in December 2021.

For more information, visit

www.norva24.com

Insurello is a Swedish insuretech company. The company provides a consumer service that helps private individuals to receive the correct compensation following an accident. 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 operates, develops and acquires successful sustainable companies in the Nordic region through active ownership with decentralized profit and business responsibility. The group consists of a number of companies which together constitute one of the Nordic region’s leading suppliers of industrial components, industrial services and other related services in the industrial sector. At the end of 2022, Nordstjernan was Momentum Group’s largest shareholder, with 55 percent of the capital and 50 percent of the voting rights. Momentum Group is listed on the Stockholm Stock Exchange.

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

Zimpler is a Swedish fintech company striving to simplify transactions between businesses and consumers, or other businesses, globally. The company develops, markets and sells payment solutions and associated services that facilitate digital transactions. The strategic focus is bank payments within the area often referred to as “open banking”.

For more information, visit
www.zimpler.com

Aidian develops, manufactures and sells instruments and tests that are used in such fields as primary care to provide quick and accurate test results. Aidian’s offering of tests addresses several global health problems such as antimicrobial resistance (AMR), diabetes and colorectal cancer. Aidian has tests that are intended to reduce unnecessary prescriptions of antibiotics, which is a driver behind the growing threat from AMR and antibiotic-resistant bacteria. 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, founded by Johnny Warström and Niklas Ingvar in 2014, is an Audience Engagement Platform engaging and captivating your audience with powerful and easy to use features.

For more information, visit

www.mentimeter.com

engcon is the world's leading manufacturer of tiltrotators. The product offering includes tiltrotators, quick couplers, hydraulic and mechanical tools as well as control and safety systems that contribute to increased profitability, efficiency, flexibility, safety and sustainability. engcon's head office is located in Strömsund, Sweden, and the company has production facilities in Strömsund and in Niepruszewo, Poland. At the end of 2022, Nordstjernan was engcon’s fourth-largest shareholder, with 5 percent of the capital and 2 percent of the voting rights. engcon was listed on the Stockholm Stock Exchange in June 2022.

For more information, visit

www.engcongroup.com

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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