Altor
Private equityCopenhagen · Series B–Late Stage · 89 people tracked
Also known as Altior Capital Management Llc
Investment thesis
Altor partners with management teams and entrepreneurs to acquire majority stakes in established Northern European companies, supporting above-market growth, geographic expansion and value creation. Drawing on an industrial heritage, the firm focuses on sectors such as manufacturing, financial services, consumer brands and industrials, with an emphasis on sustainability and the reindustrialization of Europe across modern manufacturing, resource efficiency and decarbonization. Investments are made across successive funds (Fund III through Fund VI and the ACT vehicle), and Altor positions itself as an active, engaged owner over long holding periods.
Source: firm website, verified Aug 7, 2026.
Team · 89 people
from the firm's website & curated
What they invest in
from 61 of 110 portfolio companiesAdvanced Manufacturing ×18Hardware ×17Consumer ×13Cleantech ×12Energy ×12Climate Tech ×9E-commerce ×9Enterprise Software ×9
HQs:Sweden×17Norway×8Denmark×5Canada×3Germany×3Finland×3
Investments · 110 tracked
founders shown can be your intro pathAmpco-Pittsburgh Corporation manufactures forged and cast engineered products as well as air and liquid processing equipment.
Advanced ManufacturingHardwarePittsburgh, US
Hamlet Protein produces specialty proteins and fiber products for swine feed, designed to improve feed efficiency and animal growth performance in young pigs during early life stages.
Advanced ManufacturingAgTechFoodTechHorsens, DK
Co-investorsGoldman Sachs
Network of Design (NOD) is a Nordic design brand holding company that acquires and manages a portfolio of carefully curated home décor and furniture brands.
ConsumerDirect to ConsumerE-commerceMarketplacesSweden, SE
Therese Hillman(CEO of NOD)in
Nordic Tyre Group is a tyre wholesaler and distributor across the Nordics and Baltics, serving tyre retailers, car dealers, and automotive workshops through a technology-driven supply chain platform.
Logistics & Supply ChainSaaSStockholm, SE
Patrick Bergander(CEO)
Wrist is a global maritime supplier providing ship stores, marine provisions, and offshore logistics services to commercial shipping and defense naval operations.
B2B MarketplacesLogistics & Supply ChainSaaSVancouver, CA
Ove Wrist
Co-investorsJ.F. Lehman
AGR is an energy and marine services company that provides project management and operational support to clients in the oil and gas, renewable energy, and ocean sectors, with a focus on safety, sustainability, and carbon footprint reduction.
Climate TechEnergyEnterprise Software
Aira provides clean energy solutions centered on heat pumps, making renewable heating technology accessible and affordable for residential homes across Europe.
CleantechClimate TechEnergy
Co-investorsCollaborative FundKinnevikTemasek
Manufacturer of front loaders and loader attachments for tractors under the Quicke brand, including bale handling equipment, grabs, buckets, and counterweights for agricultural use.
Advanced ManufacturingAgTechHardware
An online pharmacy that delivers prescription medications with free shipping.
E-commerceHealthtech
Media & Entertainment
Co-investorsAdvance Venture PartnersBeyond CapitalCool Climate CollectiveDesignXFirstCheck AfricaFootPrint Coalition+2 more
ByggMax is an online retailer offering a broad range of products, primarily serving Swedish customers based on language and currency references.
Retail Tech
C WorldWide appears to be an investment management firm; its landing page asks visitors to identify their investor type before directing them to the relevant site.
Fintech
DNB Carnegie is an investment banking division providing financial advisory and transaction services across multiple industry sectors including industrials, consumer retail, financial services, healthcare, infrastructure, and technology.
Enterprise SoftwareFintechStockholm, SE
CCM is a hockey equipment manufacturer that produces skates, blades, and protective gear for players of all levels and backgrounds, with a focus on making the sport more inclusive and accessible.
ConsumerDirect to ConsumerE-commerceHardwareSports Tech
Circulose produces recycled dissolving pulp (CIRCULOSE®) as a substitute for virgin pulp in regenerated fiber production, serving brands and supply-chain partners seeking to integrate circular materials at scale.
Advanced ManufacturingCircular EconomyClimate TechNew MaterialsSundsvall, SE
Jonatan Janmark(CEO)
Curato matches Norwegian patients with private X-ray clinics for radiological services including MR, CT, and mammography.
B2B MarketplacesHealthtechMedical DevicesNorway, NO
Dale of Norway is a heritage knitwear brand that designs and produces wool sweaters, cardigans, jackets and accessories in Norway.
ConsumerDirect to ConsumerE-commerceDale, NO
Eleda is a Nordic infrastructure solutions provider that acquires and develops high-quality companies across power distribution, technology, water, and transportation sectors.
Advanced ManufacturingConstruction TechEnergyStockholm, SE
Ellinor Thiel(President & CEO)
Delta provides telecom power and infrastructure systems, including rectifiers, power cores, indoor/outdoor systems, DC distribution units, renewable and hybrid energy setups, converters, controllers, enclosures, lithium-ion batteries, and UPS.
CleantechEnergyHardware
Co-investorsPartners for GrowthPartners for Growth (PFG)Sierra Ventures
Enhanced Drilling produces EC-Monitor, a real-time well monitoring system that tracks volume fluctuations and detects anomalies in drilling operations.
Advanced ManufacturingDeep TechEnergyHardwareIoTBergen, NO
Kjetil Lunde(Chief Executive Officer)
Euro Cater operates a food service supply business across Denmark and Sweden with distribution centers and cash-and-carry stores serving restaurants, canteens, and food service establishments.
FoodTechLogistics & Supply ChainScandinavia, SE
Steen D. Pedersen(Chairman, CEO Dansk Cater)Lars E. Carlsson(CEO, Svensk Cater)Henrik Ellegaard(CFO/CEO, Euro Cater)
Evac designs and manufactures waste management and environmental solutions for maritime, shipboard, and industrial customers worldwide.
Advanced ManufacturingCircular EconomyCleantechClimate TechEnterprise SoftwareImpact & Social GoodFinland, FI
Björn Ullbro(CEO of Evac Group and President of Evac Business Line)
Ferrosan Medical Devices manufactures medical devices used in surgical procedures with a focus on product quality, safety, and improved surgical outcomes.
BiotechCleantechHealthtechImpact & Social GoodMedical Devices
Leading winter sports brand and ski producer founded in the French Alps in 1907.
Co-investorsAndera PartnersSandbridge Capital
IDEAL OF SWEDEN designs and sells stylish phone cases, bags, and mobile accessories for popular smartphone models.
ConsumerDirect to ConsumerE-commerce
Co-investorsCNI
IMBOX Original is a footwear protection treatment applied in-store that repels water and dirt, prevents stains and spills, and protects shoes from UV damage.
Advanced ManufacturingConsumerHardwareRetail TechSkoedstrup, DK
Global media localization provider offering dubbing, subtitling and access services in over 100 languages to studios and streamers.
Co-investorsShamrock CapitalSoftBank Vision FundIMM Investment
Kommunalkredit Austria is a financial services company based in Vienna that manages credit ratings and investor relations, with S&P credit ratings including a long-term BBB rating and AA+ covered bonds rating.
EnergyFintechImpact & Social GoodWien, AT
Marshall manufactures and sells audio equipment including speakers, headphones, and home audio systems for music enthusiasts and consumers.
ConsumerHardware
Co-investorsBackstage AB
Max Matthiessen is a Swedish financial advisory and insurance firm that helps companies and individuals with pensions, insurance, wealth management, and digital administration services.
Enterprise SoftwareFintechSaaSSweden, SE
Multi-wing manufactures modular axial impellers from thermoplastic components for cooling and ventilation applications.
Advanced ManufacturingCleantechHardware
Nimbus manufactures Sport Cruiser recreational boats, with the Sport Cruiser 35 designed as a day cruiser for leisure activities including dining, swimming, and social gatherings.
Consumer
Nordic Climate Group provides cooling, heating, and energy efficiency services that reduce environmental impact and energy costs for customers.
CleantechClimate TechEnergy
Fredrik Gren(President & Group CEO)
Nordic Trustee provides bond trustee, loan agency services, and bond market data across Northern Europe, serving over 800 issuers and lenders in the non-bank lending sector.
Data & InfrastructureFintechNorthern Europe, SE
Cato(CEO)
Norican is a global manufacturing group that designs and manufactures machines and technologies for the formation and treatment of metallic parts, serving industrial foundries across die casting, green sand, melting, and surface preparation processes.
Advanced ManufacturingHardwareIoT
Norsk Gjenvinning is a circular economy and waste management company that offers waste collection, recycling, and resource recovery services along with digital solutions for customer management and waste reporting.
Circular EconomyImpact & Social GoodOslo, NO
Nova Austral produces and processes antibiotic-free salmon at farm sites in the Magallanes and Chilean Antarctic region, marketed under its premium "Sixty South" brand.
AgTechClimate TechFoodTechPorvenir, CL
Nicolás Larco(CEO)
BoardCésar Barros(Chairman of the Board)
Oceansapart produces Pilates socks with silicone grip soles designed for yoga and Pilates practitioners during workouts.
ConsumerDirect to ConsumerE-commerceSports TechWellness & FitnessBerlin, DE
Rehan Choudhry(CEO)Johannes Kliesch(CEO)
Orchid provides contract manufacturing services for orthopedic medical devices to original equipment manufacturers and emerging companies in the medical device industry.
Advanced ManufacturingHealthtechLogistics & Supply ChainMedical DevicesMason, US
RevolutionRace designs and sells colorful, stylish outdoor clothing including jackets, pants, fleece sweaters, and hiking boots for consumers who spend time in nature.
ConsumerDirect to Consumer
SATS ASA is a publicly listed company operating fitness and training centers.
ConsumerSports TechWellness & Fitness
AI company co-founded and led by CEO Peter Sarlin, featured in Antler's podcast.
Niko Vuokkoin
Co-investorsAntlerInception Fund
Sonion designs and manufactures miniaturized audio components and solutions for hearing aids, including microphones, receivers, RIC systems, and sensors.
Deep TechHardwareHealthtechMedical DevicesRoskilde, VN
Co-investorsNovo Holdings
Stegra produces green steel using green hydrogen and green iron, targeting a 95% reduction in emissions compared to conventional steel production.
Advanced ManufacturingCleantechClimate TechStockholm, SE
Co-investorsBurda Principal InvestmentsKinnevikTemasek
Svea Solar provides home energy solutions including solar panels, batteries, heat pumps, and EV chargers for European households, managed through a single integrated smart platform.
CleantechClimate TechEnergyHardwareStockholm, SE
Björn LindErik Martinsson
Vianode produces advanced synthetic anode graphite for electric vehicle batteries, designed to reduce CO₂ emissions by approximately 90% compared to standard materials while enabling faster charging and longer cycle life.
CleantechEnergyMobility & TransportationNew Materials
Dr. Stefan Bergold(CCO)
XXL's Team Sales is a digitalized platform for sports clubs to order branded apparel and equipment online with fast delivery (2-5 business days) and lower costs, while earning cashback for the club with each member purchase.
ConsumerE-commerceSaaSNorway, NO
Exits · 2
IPOs and acquisitions across the tracked portfolioAmpco-PittsburghNYSE: APMarshall Groupacq. by HongShan Capital Group
Portfolio news
latest coverage across their companiesBroadband Access · santafenewmexican.com · Aug 15, 2026
Aira · finsmes.com · Aug 11, 2025
Fund performance · per public LP disclosures · 3
as of Sep 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Altor III Co-InvestLPs: Orange County Employees Retirement System | 2025 | — | — | 1.20x | — |
| Altor Act ILPs: Contra Costa County Employees' Retirement Association | 2024 | — | — | 0.90x | 0.00x |
| Altor Fund VILPs: Orange County Employees Retirement System | 2022 | — | 39.3% | 1.30x | 0.36x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- How many investments has Altor made?
- Altor has 112 tracked investments, 1 of which have exited via acquisition or IPO.
- What stage does Altor invest at?
- Altor invests at the Series B, Series C, Growth, Late Stage stages.
- What sectors does Altor focus on?
- Altor focuses on Advanced Manufacturing, Circular Economy, Cleantech, Climate Tech, Consumer, Energy, Enterprise Software, Fintech, Travel & Hospitality.
- Where is Altor located?
- Altor is headquartered in Copenhagen, DK.
- Does Altor lead rounds?
- Yes, Altor leads investment rounds.
- Who does Altor co-invest with?
- Altor most often shares deals with Advance Venture Partners, Kinnevik, Burda Principal Investments, among 27 tracked co-investors.
Media · Podcasts & interviews
featuring the teamTech trifft Geopolitik – Hajo Krösche (Altor) und Michael Laha (DGAP) im Gespräch
Annette Weisbach · Hajo Krösche
Images
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