SWEDEN: Private equity firm Altor has signed an agreement with Capillar Equity to acquire a majority stake in Nordic Climate Group (NCG), a leading refrigeration contractor in Sweden and Norway.
NCG offers full national coverage in Sweden and Norway with 50 legal operating entities. Revenues this year are estimated to be SEK2.2bn (€211m). The company employs around 800 people.
NCG’s business covers complex industrial refrigeration solutions, freezing systems for large industrial companies, cooling solutions for the food and grocery industry, refrigerated sea water systems, as well as heat pump installations and comfort cooling.
Altor Equity Partners is a private equity firm focused on leveraged buyout and growth capital investments in Sweden, Denmark, Finland, Norway and France.
“We are impressed by how Capillar and the local co-owners in just over a year have created a group that is already the market leader in its industry,” said Altor partner Petter Samlin.
“The need to offer sustainable and smart energy-efficient solutions has never been greater. With Altor as a partner, I am convinced that we have chosen a successor who is dedicated and well positioned to take Nordic Climate Group to the next level and raise the group’s already ambitious goals,” added Johan Nylén, partner at Capillar Equity.
The group’s partners and management continue to own a large share of the company. The transaction is under review by the Swedish Competition Authority.