What Seafire does

Seafire AB (publ) is a Swedish publicly-listed holding company (Nasdaq Stockholm: SEAF, ISIN SE0009779796, listed May 11, 2023) founded in 2016 with a stated perpetual ownership horizon — explicitly described as "evig tidshorisont" (eternal time horizon) — that acquires and develops profitable small and medium-sized niche industrial and B2B companies. The portfolio comprises 13 wholly-owned subsidiaries spanning industrial manufacturing (Thor Ahlgren — sheet metal; Pexymek — fasteners; Åkerstedts Verkstads — industrial fans; Kenpo Sandwich — lightweight composite panels; Borö — heating products), building and horticultural products (DOFAB — doors/gates; Färg-in — industrial paint; Bara Mineraler — processed clay/pumice; Splendor Plant — Nordic party nursery), consumer goods and e-commerce (OPO Scandinavia — eyewear; Nordbutiker — multi-store e-mobility e-commerce), industrial software distribution (SolidEngineer — CAD/CAM/CAE/PDM/PLM), and agricultural monitoring (Luda.Farm — smart camera surveillance for agri/industrial markets). At the holding-company level Seafire does not develop proprietary technology; it deploys capital, strategic support, and cross-portfolio CEO networks ("VD-nätverk") and functional networks ("funktionella nätverk") while granting subsidiary CEOs and management full operational autonomy under a decentralized operating model.

The business model is acquisition-driven: Seafire sources targets through direct outreach and network referrals, acquires 100% of shares, and either establishes them as new standalone platform companies or integrates them as bolt-ons to existing subsidiaries. It pursues companies with stable profitable development, clear market positions, and strong customer offerings, emphasizing transparent and simple acquisition processes. Revenue is generated through consolidation of subsidiary net sales; the combined subsidiaries reported 1,150+ MSEK in net sales with 400+ employees across the group. Q3 2025 reported SEK 223 million in net sales, SEK 13 million in operating profit, and SEK 14 million in adjusted EBITA — translating to roughly a 6.3% adjusted EBITA margin on Q3 sales, consistent with a diversified industrial roll-up rather than a high-margin SaaS profile. Capital structure is publicly traded on Nasdaq Stockholm with key shareholders including Creades AB (board representation via Chairman Anders Hillerborg), Protector Forsikring, and Kenneth Lindqvist; a rights issue was announced in 2026 to fund continued acquisitions.

Leadership and governance reflect post-IPO professionalization. CEO Daniel Repfennig was appointed in 2024 with prior experience at Polaris Private Equity, Ratos, Solix, and Arthur D. Little. CFO Per Boden (2025) brings CFO experience from Attendo, Evidensia, Beijerinvest, Eltel, and Bioterapia Technologies. COO Keivan Cherloo (2025) was previously in management at Nobia, Business Sweden, and Axel Johnson International. The board includes independent directors Marcus Söderberg, Stina Wollenius, Sonny Mirborn, and Richard Jernberg, with Öhrlings PricewaterhouseCoopers AB as auditor. Operating geographies are Sweden-domestic with broader Nordic and European reach via subsidiary customer bases. On certifications, at least one industrial subsidiary (Thor Ahlgren) holds IATF 16949 for automotive-industry quality, underlining B2B/industrial customer requirements across the portfolio.

Name

Seafire

Legal name

Seafire AB (publ)

Website

https://seafireab.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

101–250 employees

Short description

Seafire AB (publ) is a Stockholm-based, Nasdaq Stockholm-listed holding company that acquires and operates 13 profitable niche industrial and B2B subsidiaries across Sweden under a perpetual-ownership model with decentralized subsidiary autonomy.

Ownership category

akta.pro rank

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Subsidiary Operations: Seafire generates revenue through ownership of 13 profitable subsidiary companies operating across various industries. The Q3 2025 net sales were SEK 223 million with operating profit of SEK 13 million and adjusted EBITA of SEK 14 million.

Go-to-market motion1 record

Marketing channels2 records

Core offering

Seafire is a publicly-listed Swedish holding company that acquires 100% of shares in profitable niche companies and develops them with a perpetual ownership horizon. The portfolio comprises 13 wholly-owned subsidiaries operating across industrial manufacturing, software, e-commerce, building products, and green infrastructure, each run independently under a decentralized ownership model. Group net sales exceed 1,150 MSEK across 400+ employees, with Q3 2025 net sales of SEK 223 million.

Product overview

Seafire is a holding company group that acquires and develops profitable niche companies with a perpetual ownership horizon. The portfolio consists of 13 diverse subsidiaries operating across multiple industries including industrial manufacturing (Thor Ahlgren, Pexymek, Åkerstedt Verkstads, Kenpo Sandwich, Borö), software and technology (SolidEngineer), e-commerce (Nordbutiker, OPO Scandinavia), building products (DOFAB, Färg-in, Bara Mineraler), and agricultural monitoring (Luda.Farm, Splendor Plant). Each subsidiary operates independently under Seafire's decentralized ownership model while benefiting from shared resources and cross-company collaboration networks.

Differentiator

Problem solved

Functional benefit

Products and services

• Splendor Plant

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Lagercrantz Group AB: Swedish listed tech/industrial holding company that acquires and develops niche-leading subsidiaries with significant operational autonomy — directly comparable operating model to Seafire.
• Addtech AB: Swedish listed industrial components group that acquires and develops niche technology-trading subsidiaries with decentralized management; comparable to Seafire's industrial subsidiaries (e.g., Pexymek, Thor Ahlgren).
• Indutrade AB: Swedish publicly listed industrial holding company owning 200+ niche subsidiaries with a decentralized operating model — the closest large-scale analogue to Seafire's strategy of acquiring and permanently owning profitable niche industrial businesses.
• Volati AB: Swedish listed industrial holding company with a similar decentralized acquisition strategy, building a portfolio of niche-leading businesses across diverse industries.
• Lifco AB: Swedish listed holding company focused on acquiring and permanently owning leading niche industrial businesses; shares Seafire's perpetual-ownership ethos and decentralized structure.
• Creades AB: Swedish listed investment company focused on long-term ownership of Nordic SMEs; Seafire's Chairman Anders Hillerborg is an Investment Manager at Creades, making it an intimately connected direct comparable in the same talent and deal-flow ecosystem.
• Storskogen Group AB: Swedish listed industrial holding company pursuing a similar decentralized-acquisition strategy across multiple niche verticals; competes with Seafire for the same Nordic SME succession pipeline.
• Ratos AB: Swedish listed private-equity/holding company focused on acquiring and developing Nordic SMEs; Seafire's CEO Daniel Repfennig was previously Senior Investment Manager at Ratos, making it a directly comparable operator in the same talent ecosystem.
• Herenco: Swedish privately held industrial group owning multiple niche industrial businesses with decentralized management; Seafire board member Marcus Söderberg is Group CFO of Herenco, indicating direct ecosystem overlap.

Broad incumbents

• Investment AB Latour: Long-established Swedish industrial/investment holding company with a portfolio of listed and unlisted industrial businesses; broader and more mature than Seafire but operating on a comparable decentralized model.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks7 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Seafire