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Altor

Europe, Stockholms Lan, Sweden, Stockholm

Description

Altor is a prominent private equity firm with a strong focus on medium-sized companies, primarily across the Nordic region and the DACH (Germany, Austria, Switzerland) area. Established in 2003, the firm employs a hands-on approach, aiming to create value through strategic development and operational improvements within its portfolio companies. Altor typically seeks to acquire majority stakes, enabling them to exert significant influence over management and strategic direction, thereby driving growth and profitability. Their investment philosophy is centered on long-term value creation rather than short-term gains.

The firm has successfully raised substantial capital across multiple funds, demonstrating strong investor confidence. For instance, Altor Fund VI, their most recent fund, closed in 2021 with commitments totaling EUR 2.75 billion, equivalent to approximately $2.97 billion. This significant capital base allows Altor to pursue a wide range of investment opportunities and support the growth initiatives of its portfolio companies. Their investment strategy spans various sectors, including industrials, consumer, healthcare, and business services, reflecting a diversified approach to identifying promising enterprises.

Altor's typical investment targets are established companies with enterprise values generally ranging from EUR 50 million to EUR 500 million. For these investments, Altor's initial equity check typically falls within the range of EUR 50 million to EUR 300 million. This translates to approximately $54 million to $324 million in direct equity per transaction, depending on the specific deal structure and the size of the target company. The firm's substantial check sizes underscore its commitment to significant ownership and its capacity to provide substantial capital for growth, acquisitions, and operational enhancements within its portfolio.

Investor Profile

Altor has backed more than 52 startups, with 2 new investments in the last 12 months alone. The firm has led 9 rounds, about 17% of its total and boasts 16 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Private Equity, Post Ipo Equity, Series B rounds (top funding stages).
  • Majority of deals are located in Sweden, Norway, United States.
  • Strong thematic focus on Manufacturing, Energy, E-Commerce.
  • Led 1 rounds in the past year.
  • Typical check size: $54M – $324M.

Stage Focus

  • Private Equity (67%)
  • Post Ipo Equity (12%)
  • Series B (8%)
  • Series Unknown (6%)
  • Series A (4%)
  • Undisclosed (2%)
  • Secondary Market (2%)

Country Focus

  • Sweden (48%)
  • Norway (15%)
  • United States (8%)
  • Denmark (6%)
  • Germany (6%)
  • Finland (6%)
  • Luxembourg (4%)
  • The Netherlands (4%)
  • France (2%)
  • Canada (2%)

Industry Focus

  • Manufacturing
  • Energy
  • E-commerce
  • Fashion
  • Software
  • Financial Services
  • Cleantech
  • Heating, Ventilation, And Air Conditioning (Hvac)
  • Renewable Energy
  • Artificial Intelligence (Ai)
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FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does Altor frequently co-invest with?

AMF
Europe, Stockholms Lan, Sweden, Stockholm
Co-Investments: 2
Goldman Sachs
North America, New York, United States, New York
Co-Investments: 2
GIC
Asia, Central Region, Singapore, Singapore
Co-Investments: 3
Creades AB
Europe, Stockholms Lan, Sweden, Stockholm
Co-Investments: 2
Temasek Holdings
Asia, Central Region, Singapore, Singapore
Co-Investments: 3
Lingotto
Europe, England, United Kingdom, London
Co-Investments: 2
Bure Equity AB
Europe, Stockholms Lan, Sweden, Stockholm
Co-Investments: 2
Collaborative Fund
North America, New York, United States, New York
Co-Investments: 2
Kinnevik
Europe, Stockholms Lan, Sweden, Stockholm
Co-Investments: 4
Statkraft Ventures
Europe, Nordrhein-Westfalen, Germany, Düsseldorf
Co-Investments: 2

Which angels does Altor often collaborate with?

CS
Europe, Stockholms Lan, Sweden, Stockholm
Shared Deals: 2
Daniel Ek
North America, New York, United States, New York
Shared Deals: 2
AM
Europe, Stockholms Lan, Sweden, Stockholm
Shared Deals: 1

What are some of recent deals done by Altor?

CCM Hockey

Montréal, Quebec, Canada

CCM Hockey sells skates, sticks, and helmet equipment.

ManufacturingMarketing
Private EquityJun 24, 2025
Aira

Stockholm, Stockholms Lan, Sweden

Aira operates as a clean energy-tech company that provides heat pumps and home energy-saving solutions.

CleanTechEnergyHeating, Ventilation, and Air Conditioning (HVAC)
Series BOct 16, 2024
Amount Raised: $68,410,594
H2 Green Steel

Stockholm, Stockholms Lan, Sweden

H2 Green Steel operates a steel production plant to accelerate the decarbonization of the steel industry using green energy.

Private EquityJan 22, 2024
Amount Raised: $326,353,005
Aira

Stockholm, Stockholms Lan, Sweden

Aira operates as a clean energy-tech company that provides heat pumps and home energy-saving solutions.

CleanTechEnergyHeating, Ventilation, and Air Conditioning (HVAC)
Series BJan 16, 2024
Amount Raised: $157,739,173
Aira

Stockholm, Stockholms Lan, Sweden

Aira operates as a clean energy-tech company that provides heat pumps and home energy-saving solutions.

CleanTechEnergyHeating, Ventilation, and Air Conditioning (HVAC)
Series AOct 18, 2023
Amount Raised: $90,678,520
Marshall Group

Stockholm, Stockholms Lan, Sweden

Marshall Group is formed by merging Zound Industries and Marshall Amplification companies.

Musical Instruments
Secondary MarketSep 15, 2023
FLSmidth

Valby, Hovedstaden, Denmark

FLSmidth supplies engineering, equipment, and services to the minerals and cement industries.

Construction
Post Ipo EquityJan 19, 2023
H2 Green Steel

Stockholm, Stockholms Lan, Sweden

H2 Green Steel operates a steel production plant to accelerate the decarbonization of the steel industry using green energy.

Series BOct 19, 2022
Amount Raised: $68,359,575
Vianode

Oslo, Oslo, Norway

Vianode is a producer of sustainably engineered battery materials.

BatteryManufacturingRenewable EnergySemiconductor
Series UnknownSep 14, 2022
H2 Green Steel

Stockholm, Stockholms Lan, Sweden

H2 Green Steel operates a steel production plant to accelerate the decarbonization of the steel industry using green energy.

Series BAug 29, 2022
Amount Raised: $190,207,136