Altor
Altor is a Stockholm-based private equity firm founded in 2003, managing seven funds with over EUR 12 billion in capital commitments and operating across five Nordic and DACH offices to take majority and minority stakes in mid-market Consumer, Industrial, Business Services, Financial Services, and Tech companies alongside founders and management teams.
- Company typePrivate
- Founded2003
- HeadquartersStockholm, Sweden
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Altor does
Altor is a Stockholm-headquartered private equity firm founded in 2003, operating across five offices (Stockholm, Copenhagen, Helsinki, Oslo, and Zurich) with a Jersey-domiciled fund advisory entity. The firm manages seven investment funds with more than EUR 12 billion in cumulative capital commitments from European and US institutional investors including pension funds, university endowments, and charitable foundations; the four latest funds have a 15-year investment horizon. Altor deploys capital across five sectors — Consumer, Industrial, Business Services, Financial Services, and Tech — taking both majority and minority stakes and reporting that it reviews approximately 500 companies annually and invests in roughly 2% of those reviewed.
Altor's core technology stack is its value-creation methodology, anchored by a Responsible Investment and Ownership (RIO) Policy and a Three-Year Value Creation Master Plan that integrates ESG into a structured three-year plan within six months of investment, with mandatory ESG board discussions and quarterly ESG performance reviews. The firm is a UN PRI signatory since 2014, committed to the SBTi 1.5°C ambition since 2021, and operates under the EU SFDR and AIFMD frameworks. Operational technology is lightweight: a third-party eFront investor portal (icx.efrontcloud.com/@3452/AltorJSY/login.aspx) serves limited partners, and an Altor careers portal supports hiring; there is no disclosed proprietary technology product, API, or developer platform. Recent portfolio themes include AI (Silo AI, WovenLight partnership, F24), green transition (Stegra, Aira, Svea Solar, Vianode, Kommunalkredit, Nordic Climate Group), and digital transformation (Meltwater, Rillion, Eidra/Curamando).
Altor generates revenue through standard private equity fund economics: management fees on committed/invested capital across its funds and carried interest (performance fees) on successful exits, supplemented by capital gains from portfolio divestitures such as the SEK 7.94 billion sale of Nordic Leisure Travel Group to Norwegian, the Wrist divestiture to J.F. Lehman, and the €238 million Mandatum monetization. The firm serves two primary customer constituencies: institutional limited partners (pension funds, endowments, foundations) and the founders, management teams, and entrepreneurs of portfolio companies; the firm explicitly emphasizes deep partnerships with founders, with management reinvestment alongside Altor in transactions including Eltera Gruppen, Evac Holding, and IMBOX Protection. Distribution is conducted through direct institutional LP relationships, co-investor partnerships (with firms such as Bain Capital, Goldman Sachs Merchant Banking Division, SMS Group, TDR Capital, and Wallenberg Investments), and engagement with investment banks and advisors during deal execution.
Altor firmographics
Firmographics- Name
- Altor
- Legal name
- Altor Equity Partners AB
- Website
- https://altor.com
- Company type
- Private
- Founded year
- 2003
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Altor is a Stockholm-based private equity firm founded in 2003, managing seven funds with over EUR 12 billion in capital commitments and operating across five Nordic and DACH offices to take majority and minority stakes in mid-market Consumer, Industrial, Business Services, Financial Services, and Tech companies alongside founders and management teams.
- Ownership category
- akta.pro rank
Altor industry classification
Industry- Product category
- Private Equity
- NAICS
- Portfolio Management and Investment Advice (523940), Other Financial Vehicles (52599)
- SIC
- Investors, Nec (6799)
- akta.pro primary industry
- Micro-PE / Lower Middle Market ETA Funds (FSANALAG)
- akta.pro secondary industries
- Technology & Software Growth Equity (FSANACAA), Growth Equity Fund-of-Funds (FSANAGAE)
Keywords
Where Altor is headquartered
LocationHeadquarters
- HQ city
- Stockholm
- HQ country
- Sweden
- HQ region
- Europe
Markets served
Altor business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Fund Management & Performance Fees: Altor manages 7 funds with over EUR 12 billion in total capital commitments from leading European and US institutional investors, including pension funds, university endowments, and charitable foundations. Revenue is generated via typical private equity fund economics: management fees on committed/invested capital and carried interest (performance fees) on successful exits. Funds have a 15-year horizon for the four latest funds.
- Capital Gains from Divestments: Altor generates returns through divestments and exits of portfolio companies, including recent transactions such as the sale of Nordic Leisure Travel Group to Norwegian (SEK 7.94 billion), Wrist to J.F. Lehman, Mandatum stake sale (EUR 238 million), and Kaefer stake exploration at EUR 2 billion+ valuation.
Go-to-market motion3 records
Altor product offering
Product offeringCore offering
Altor is a private equity investment firm that raises and manages investment funds (7 funds with over EUR 12 billion in total capital commitments) from European and US institutional investors. Through these funds, Altor takes majority and minority equity stakes in mid-market companies across Consumer, Industrial, Business Services, Financial Services, and Tech sectors in the Nordics and DACH regions, and serves as an active owner driving strategic, operational, and ESG transformation. Revenue is generated through management fees on committed/invested capital, carried interest on successful exits, and capital gains from portfolio company divestments.
Product overview
Altor operates as a private equity investment platform centered on five active investment funds (Altor Fund III, Fund IV, Fund V, Fund VI, and the ACT I climate-transition fund) that together have raised more than EUR 12 billion in commitments from European and US institutional investors. Through these funds Altor takes majority and minority stakes in portfolio companies spanning five sectors — Consumer, Industrial, Business Services, Financial Services, and Tech — and serves as an active owner driving strategic, operational, and ESG transformation over a 15-year horizon. The current portfolio includes acquired brands such as CCM Hockey (hockey equipment), Stegra (green steel), F24 (Business Resilience SaaS), Evac Holding (water and waste management), Eltera Gruppen, IMBOX Protection, Kommunalkredit (infrastructure banking), VTU Group, Raw Fury (indie gaming), Rillion (AP automation), Meltwater (media intelligence), Aira (clean energy-tech), Svea Solar, Circulose (textile recycling), Vianode (battery materials), Network of Design, KAEFER (industrial services), Iyuno, FLSmidth, Norican Group, Transcom, Trioworld, and Mandatum, with past holdings such as Helly Hansen, EWOS, Lindorff, Carnegie, Silo AI, Wrist, and Hamlet Protein having been divested. The platform's AI and digital strategy is supported through portfolio collaborations (e.g., Silo AI with Transcom) and the recent Altor-WovenLight strategic partnership.
Differentiator
Problem solved
Functional benefit
Products and services
- Altor Fund III One of Altor's earlier-generation private equity funds, used to invest in mid-market companies across the Nordic region; has historically backed holdings including Meltwater and C WorldWide.
- Altor Fund IV Private equity fund used to invest in industrial and consumer companies; backs holdings such as Faun Gruppen and OptiGroup, regulated under the Altor Fund Manager AB structure.
- Altor Fund V Mid-generation Altor fund backing companies such as Aarke, Kommunalkredit and Sleep Cycle (via Snark Bidco); used to pursue both majority and minority stakes.
- Altor Fund VI Altor's most recent flagship fund, used to acquire majority stakes in CCM Hockey, Eltera Gruppen, Evac Holding, IMBOX Protection, F24 and other portfolio companies, including expansion into AI and climate-transition themes.
- ACT I (Altor Climate Transition Fund I) Altor's climate-transition fund, used alongside Fund VI to back decarbonization-focused investments including Aira and Stegra (formerly H2 Green Steel).
Companies that use Altor
Customer profileIdeal customer profiles2 records
Altor technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Altor partnerships and signals
Strategic signalRecent moves26 records
Expansion highlights6 records
Altor competitors and assessment
Company assessmentMarket position
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Altor social profiles
Digital presenceAltor compliance and trust
Trust signalCompliance6 records
Altor financial estimates
Financial estimateRevenue estimate
Valuation estimate
Altor leadership team
Management profileNumber of profiles
Profiles21 records
Altor subsidiaries and ownership
Company hierarchySubsidiaries46 records
Altor funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Altor M&A and investment
M&A and investmentM&A59 records
Investments55 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Altor
What does Altor do?
Altor is a private equity investment firm that raises and manages investment funds (7 funds with over EUR 12 billion in total capital commitments) from European and US institutional investors. Through these funds, Altor takes majority and minority equity stakes in mid-market companies across Consumer, Industrial, Business Services, Financial Services, and Tech sectors in the Nordics and DACH regions, and serves as an active owner driving strategic, operational, and ESG transformation. Revenue is generated through management fees on committed/invested capital, carried interest on successful exits, and capital gains from portfolio company divestments.
Is Altor a public or private company?
Altor is a private company. It is classified as management employee owned and is currently operating.
When was Altor founded?
Altor was founded in 2003. It employs 101 to 250 people.
Where is Altor based?
Altor is headquartered in Stockholm, Sweden, in the Europe region.
How does Altor make money?
Two revenue lines are on record. Fund Management & Performance Fees are the primary driver. The others are capital Gains from Divestments.
Does Altor have an API?
No public API is recorded for Altor.
What industry is Altor in?
Altor's product category is Private Equity. Its primary akta.pro industry code is FSANALAG, Micro-PE / Lower Middle Market ETA Funds, with a secondary code of FSANACAA, Technology & Software Growth Equity. Its NAICS code is 523940 and its SIC code is 6799.