equity news contact login we are dedicated to building better businesses in the nordic region see our cases see ourcases 16 07 12 goldman sachs merchant banking and altor fund iv to acquire navico and digital marine solutions from the altor 2003 fund news 5.8 billion in four funds from a long term committed investor base should i stay or should i go mikael bengtsson byggmax our portfolio wrist rossignol group qmatic papyrus orchid one northstar norsk gjenvinning navico haarslev health fitness nordic enhanced drilling dustin ctek constructor carnegie l ampco pittsburgh corporation meltwater norican group transcom spectrum hamlet protein nova austral infotheek skandiabanken asa 1 do you have something on your mind feel free to contact us . contact about altor the company how we work the team investors our responsibility altor is a family of private equity funds focused on investing in and developing medium sized companies with a nordic origin . we want to create enduring values and make a real difference as a valuable partner for owners and managers in building world class companies . we work with a nordic team with extensive international experience in fields such as private equity consulting investment banking and various industrial sectors . leading international institutional investors have committed a total of eur 5.8 billion to the four altor funds . our investment strategy since 2003 is based on identifying and realizing sustainable performance improvements in areas such as revenue growth margin expansion and capital efficiency . as a rule of thumb we only invest in companies where we see a potential for the company to double the operating profit in a five year perspective . altor actively seeks to build and develop businesses in partnership with the prior owners and has achieved such co ownerships in a majority of its investments . read morethe fundsour advisors immediately after completing an investment the handpicked board of directors and the management team develop the strategic agenda and the operating targets for the company . a detailed roadmap is developed during an intense six month period where facts are collected to establish a common perspective on competitive position current performance and future opportunities . a key tool is a comprehensive benchmarking analysis against world class companies in the same industry . thereafter the program clarifies an implementation plan and prioritizes strategic initiatives addressing revenue growth cost and capital effectiveness . altor provides ongoing support to the management team via frequent interactions informally . in addition we appoint external board members with appropriate backgrounds and experiences that match our high ambitions . altor can also support the management team with specific resources that can be added in order to complement existing skills and experience base . we are allies in building a truly better business . read moreevaluation processpartnerships with prior owners the fund managers of the altor funds seek local expertise from their investment advisors and local professional networks . we currently use more than 45 dedicated investment professionals from the nordic region all having international experience in fields such as private equity consulting investment banking and from various industrial sectors . the mix of professional backgrounds allows the team to support the funds and their portfolio companies with expertise and skills relevant to each specific value creation agenda . altor equity partners the main investment advisor operates out of offices in copenhagen helsinki oslo and stockholm to further enhance local networks and facilitate the interaction with our portfolio companies . having the teams working across countries also ensures and promotes a shared culture and values . as important the success is dependent on the ability to attract and retain top talent in the portfolio companies and in the board of directors where altor has strong relationships with seasoned industrial executives such as hans str berg fredrik cappelen and eivind reitan who can contribute to building world class companies . the network is also used to identify specific resources that can be added to management teams of portfolio companies to complement with skills and experiences that are valuable for various situations . read moregp boards the altor funds have secured strong support from leading international institutional investors who share altor s long term perspective on value creation . they include high quality nordic institutions us university endowments charitable foundations and other leading international institutions . these institutions have committed to invest in the altor 2003 fund altor fund ii and altor fund iii all domiciled in jersey channel islands and with altor equity partners as investment adviser and altor fund iv domiciled in stockholm sweden . more than 75 % of the committed capital comes from investors outside the nordic countries . being a world class company includes ensuring high environmental social and governance esg standards . altor s commitment goes beyond compliance with rules and regulations it s intended to ensure that altor contributes to the creation of companies that promote a sustainable future for business society and the environment . altor funds are signatories of pri the principles for responsible investment and are committed to pri s six principles . we are also with our advisors supporting a number of initiatives we care deeply about such as stella hand in hand and ashoka . read morealtor responsible investment & ownership policypri six principles companies & cases companies & cases portfolio current past the companies in the altor funds have been through remarkable change journeys . here you can find examples on these stories and cases of how exceptional businesses have been built . back to cases l agri sweden ampco pittsburgh industrial equipment united states c asset management partners asset management denmark carnegie investment bank investment banking sweden constructor industrial norway ctek industrial sweden dustin online it product reseller sweden enhanced drilling energy norway haarslev industries by product processing equipment denmark hamlet protein animal nutrition denmark health & fitness nordic health & fitness nordic norway infotheek it hardware and software reselling netherlands meltwater media intelligence saas usa navico marine electronics norway norican group metallic parts formation and preparation equipment denmark norsk gjenvinning industrial norway northstar battery and power systems sweden nova austral salmon producer and processor chile one services sweden orchid orthopedic solutions medtech usa papyrus paper facility supplies & packaging merchanting sweden qmatic services sweden realia group real estate services finland rossignol group ski equipment and apparel france skandiabanken asa digital consumer bank norway spectrum energy norway transcom customer management sweden wrist ship supply ship supplies denmark aalborg industries industrial denmark aco hud healthcare sweden agr petroleum services energy norway kers group supplier to the steel industry sweden apotek hj rtat pharmacy operations sweden byggmax diy retailing sweden curato medical imaging healthcare norway dynapac industrial germany eltek group energy systems norway euro cater food service denmark ewos fish feed norway ferrosan healthcare denmark ferrosan medical devices medtech denmark helly hansen apparel norway lindorff group debt collection norway max matthiessen financial services sweden meyn food processing equipment holland nimbus boats industrial sweden ow bunker marine fuel denmark palodex dental imaging equipment finland piab vacuum technology sweden relacom telecom services sweden sonion hearing aid components and solutions denmark spt group oil service software norway vatus medical supplies sweden about private equity about how we see it what companies say private equity refers to equity investments in enterprises not listed on a public stock exchange . with an active and time limited form of ownership private equity investors work together with the management of the companies in which they invest to enhance long term value . private equity investors typically realize the value of their investment through an initial public offering or through a sale or merger of the company they control . there are two investment stages . venture capital is an investment in forming and growing early stage companies . buyout capital where altor is active refers to acquisitions of significant stakes in larger more established companies . the demand for private equity has increased in the nordic region as a result of the succesful investments made in the region . further a new wave of cross border consolidation in combination with an ongoing focus on core operations resulting in further divestures give a positive outlook on the pe market in the nordic region . this is further strengthened by the increased awareness in family owned businesses of the benefits of partnering with private equity investors to develop the company to the next level . we believe that private equity is an important ownership form that is sometimes but not necessarily always the best for a company . it all comes down to the situation that the company is in . we like and are good at making significant improvements and lasting change . for instance expanding a great local brand or business into an international one or improving a company not performing at its full potential via growth initiatives and cost and capital effeciency improvements . one of the greatest myths about private equity is that we act with a short term mindset . it is true that we own the companies for a limited time often around five years but in order to develop the company and make it attractive for future owners we take long term actions in areas such as r & d to spur innovation and a sustainable development . altor can in certain situations own companies for 15 years and beyond . we are obsessed with building the best companies in the world . this passion can be seen in how actively each company is governed . but this does not lead to an us and them issue with the company s management it is a true partnership where we are in it together as allies . see all cases news latest archive goldman sachs merchant banking and altor fund iv to acquire navico and digital marine solutions from the altor 2003 fund posted 16 07 12 on july 12th goldman sachs merchant banking division and altor fund iv signed an agreement to acquire navico holding as navico and digital marine solutions holding as digital marine solutions owner of jeppesen marine from the altor 2003 fund . navico is a leading provider of marine electronics to the recreational segment and is an innovative force within the commercial marine market . navico sells its products under the three brands lowrance simrad and b & g. the company was created from the acquisitions of simrad yachting lowrance electronics and brunswick new technologies . navico has worked systematically to integrate the three companies consolidating seven brands into three six factories into one and building one common technology platform . as a result navico has been driving innovation in its industry launching one new product every 20th day and has steadily grown its market share since 2009 . subsequent add on acquisitions completed include maritime information systems concilium s radar business and contour innovations . in addition digital marine solutions completed the acquisition of the companies and assets comprising jeppesen marine which in addition to navico will be acquired by the new owners . navico has also become the most profitable player in its industry with 2015 revenues of usd 309 million and an ebitda of usd 62 million . it has been a privilege to work with the management team in navico over the last ten years building a great company which is very well positioned for further growth . the high performing recreational business is an asset that also can be leveraged to grow in the commercial segment over the coming years . the digital platform represents a unique platform to participate in and drive the digitalization of commercial marine in partnership with other industry players with additional strength being brought to the platform by the new owners acquisition of digital marine solutions from the altor 2003 fund says hugo maurstad chairman of the board of navico and partner at altor equity partners . we are impressed with navico s track record and speed of innovation