Idun Industrier

What Idun Industrier does

Idun Industrier AB (publ) is a Stockholm-based industrial investment holding company that acquires and develops small and medium-sized industrial and service businesses, primarily in Sweden. The group operates as a permanent owner — explicitly not investing for resale — and typically takes 75–90% majority stakes in niche-leading SMEs while retaining founders and management as co-investors and operators. As of mid-2026 the group comprises 21–22 independent subsidiaries employing approximately 1,000 people and generating roughly 2.5–2.6 billion SEK in annual revenue, with reported Q1 2026 net revenue of 659 MSEK (+15.7% YoY) and EBITA of 91 MSEK (+16.8% YoY).

The portfolio spans four broad business areas: industrial manufacturing (Intermercato, Trikåby, Sjöbergs, Prident), industrial services and aftermarket (Mouldex, EKAB, Triton, Ståthöga MA Teknik, ILEMA, TURAB, Kjellbergs), technical distribution (Eugen Wiberger, 2B Best Business, Nordbergs Tekniska, LMI, BIA), and specialized consumer/services (Fredahl Rydéns, Better Business, Culina Products, AGB, P&L Nordic, Barem OÜ). Group companies are deliberately left autonomous operationally, with Idun's role limited to capital allocation, board-level governance, and shared back-office support; no standardized operating templates are imposed.

The company is publicly listed on Nasdaq Stockholm First North Growth Market (ticker: IDUN B), with founder Adam Samuelsson controlling approximately 79.1% of voting rights through BTG Holding AB. Idun funds acquisitions through a 670 MSEK revolving credit facility with SEB and Danske Bank (after redeeming a 220 MSEK bond in June 2026) and through retained earnings, with a stated strategy of compounding long-term equity value rather than realizing exits. No proprietary technology platform is disclosed; competitive positioning rests on permanent-capital status, niche market leadership at the subsidiary level, and co-investment alignment with operating talent.

Name

Idun Industrier

Legal name

Idun Industrier AB (publ)

Website

https://idun.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Idun Industrier is a Stockholm-listed industrial holding company that permanently owns and develops 21–22 Swedish niche-leading SMEs in industrial manufacturing, services, and technical distribution, generating ~2.6 BSEK annual revenue with founder Adam Samuelsson controlling ~79% of votes.

Ownership category

akta.pro rank

Headquarters

HQ city

Norrmalm

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Others

Revenue model

1. Investment returns from portfolio companies: Idun generates revenue through returns from its 21 subsidiary companies (group companies) operating in various industrial and service niches. These companies generate revenues through product sales, service provision, and distribution of technical construction plastics, industrial equipment, and specialized services.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Idun Industrier is a Swedish industrial holding company that acquires majority stakes (typically 75-100%) in small and medium-sized industrial and service companies and develops them as a long-term permanent owner. The group owns and develops 21-22 independent group companies operating across niches in industrial manufacturing, technical distribution, service and maintenance, and specialized consumer products, with operations primarily based in Sweden.

Product overview

Idun Industrier is a portfolio company (bolagsgrupp) that owns and develops 21-22 independent group companies (gruppbolag) primarily based in Sweden, organized into business areas of Manufacturing and Service & Maintenance. The company does not offer a unified technology product but instead operates as an industrial investment holding company with a diverse portfolio of niche market leaders across sectors including: industrial manufacturing (Intermercato, Trikåby, Sjöbergs), industrial services (Mouldex, EKAB, Triton, Ståthöga MA Teknik, ILEMA), technical distribution (Eugen Wiberger, 2B Best Business, Nordbergs Tekniska), and specialized consumer/services (Fredahl Rydéns, Prident, Better Business, Culina Products, AGB, Kjellbergs, BIA, LMI, P&L Nordic).

Differentiator

Problem solved

Functional benefit

Products and services

• Nordbergs Tekniska Leading Swedish distributor of specialized technical construction plastics with unique properties for medical technology, defense, telecom and demanding industrial applications; founded 1970, headquartered in Vallentuna north of Stockholm.
• AGB (Anders & Gunilla Bennarsten Service AB) Leading Swedish service partner for press tools to plumbing/HVAC technicians, offering calibration, service and repairs of press tools for pipe joining without welding or soldering.
• Mouldex Sweden AB Leading service and spare parts partner for the sawmill industry, providing service, spare parts, renovation and upgrading of machinery with revenue of approximately 45-50 million SEK.
• Trikåby AB Leading Swedish producer of technical knitted fabrics and warp-knit fabrics serving industrial and apparel applications.
• MEAB Stainless AB Supplier with a prominent position on the Swedish market for stainless acid-resistant fasteners, with revenue of approximately 30+ million SEK.
• Barem OÜ Leading supplier to the Finnish and Estonian funeral industry with own production of coffins and urns; revenue of approximately 30 million SEK.
• Better Business Market leader in specialized security and investigation services for retail chains in Sweden and Norway.
• BIA Manufactures and sells fat and oil separators in fiberglass, with a trading range including separators in concrete.
• Culina Products Market leader in manufacturing and sales of stainless steel interior, kitchen machines and equipment for professional kitchens in Sweden.
• EKAB Market leader in preventive maintenance of high-voltage substations in the Stockholm metropolitan area.
• Eugen Wiberger Delivers a unique range of primarily mechanical components and machine details to thousands of Swedish industrial customers.
• Fredahl Rydéns Nordic market leader for the funeral industry with high-quality products; the company has existed for over 120 years.
• ILEMA Swedish market leader in air emission measurements, performing measurements and analyses of air and flue gas emissions.
• Intermercato Specialized manufacturer of grapples, grapple buckets, scales and other machine accessories for heavy vehicles and machines; world-leading in crane scales.
• Kjellbergs Nordic market leader in control devices for tailgate lifts.
• LMI Manufactures and markets micronutrients and fertilizers for commercial greenhouses, farmers, golf courses and peat producers.
• Prident Market-leading manufacturer of identity-creating products such as sports water bottles and reflectors sold through profile retailers.
• P&L Nordic Learning and competence management tools for industrial companies and vocational high school programs.
• Sjöbergs Sweden's leading manufacturer of workbenches and cabinets for woodwork classrooms and hobby woodworkers, with significant export to USA and Germany.
• Stegaföretagen Acquires and develops small and medium-sized quality companies as a long-term owner with respect for history and vision for the future.
• Ståthöga MA Teknik Leader in industrial maintenance for heavy industry, water and heating plants in the Norrköping area.
• Triton

Quantifiable outcome

• Net revenue increased by 15.7% in Q1 2026 to 659 MSEK
• +3 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• Valdemar Nordberg (and family)coreOthersValdemar, Oskar and Pontus Nordberg remain as co-owners following Idun's acquisition of 85% of Nordbergs Tekniska. The Nordberg brothers continue to operate the business they founded in 1970.
• Anders Wiksten (AGB)coreOthersFounder Anders Wiksten remains as significant owner and in an operational role following Idun's acquisition of 85% of AGB. This ensures continuity of the successful business model.

Scale indicators11 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Lifco AB: Lifco is a Swedish-listed industrial holding company that acquires and develops niche-leading SMEs with permanent ownership, very similar model to Idun but larger and more mature. Most directly comparable peer by philosophy, scale-up trajectory and decentralized operating approach.
• Teqnion AB: Teqnion is a smaller Swedish-listed industrial group acquiring niche-leading technology and industrial SMEs in the Nordic region. Comparable scale and acquisition model to Idun.
• Storskogen Group AB: Storskogen is a Stockholm-listed (Nasdaq Stockholm) roll-up of small and medium-sized Nordic businesses across industrial, services and consumer verticals. Directly comparable acquisition platform, though with broader sector exposure and a more growth-oriented strategy than Idun's permanent-ownership focus.
• Volati AB: Volati is a Swedish-listed industrial holding company acquiring niche-leading Nordic SMEs with a long-term ownership horizon. Closely comparable business model to Idun, with similar portfolio breadth across industrial and consumer niches.

Broad incumbents

• Industrivärden AB: Industrivärden is a major Swedish listed investment company with controlling stakes in large Nordic industrials. While much larger and focused on blue-chip industrial holdings rather than SME roll-up, it is a relevant Swedish listed investment vehicle comparison.
• Addtech AB: Addtech is a Swedish listed industrial technology distributor that acquires niche-leading component distributors across the Nordics. Comparable operating logic of acquiring and developing decentralized niche industrial businesses, though focused on technical distribution rather than diversified industrial production.
• Investment AB Latour: Latour is a Swedish listed investment company combining a diversified listed portfolio with wholly-owned industrial operations. Comparable as a Swedish investment holding entity with industrial operating businesses, though at much larger scale and with different capital deployment focus.

Regional players

• Traction AB: Traction is a Swedish listed investment company with active ownership in smaller Nordic listed and unlisted companies. Comparable as a Swedish investment holding entity, though more portfolio-finance oriented than operating-focused.
• Investment AB Öresund: Öresund is a Swedish listed investment company focused on listed Nordic SMEs. Tangentially comparable as a Swedish listed investment vehicle targeting smaller-cap Nordic industrial and service companies.

Emerging players

• Stena Sessan AB: Stena Sessan is a Swedish family-owned investment company with concentrated holdings in Nordic industrial and technology companies. Comparable as a long-term Swedish investment holding with industrial focus, though privately held.

Market position

Strengths1 record

Weaknesses4 records

Competitive moat5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/idun-industrier

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries27 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments

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

Frequently asked questions about Idun Industrier