The fund presented is intended for professional investors only. Past performance is not indicative of future results. The funds can both decrease and increase significantly in value, and you may not get back the amount invested. Prospectus and sustainability-related disclosures are available from SEB. This material has been prepared by SEB Asset Management AB.
Nordic mergers and acquisitions continue to perform strongly despite global uncertainties. SEB Private Equity is expanding its investments in family- and entrepreneur-owned companies, focusing on supporting growth and development among small and mid-sized businesses across the Nordics.
Despite global uncertainties, there has been a positive trend in the M&A market which has been robust and has grown further through 2025. In line with this global trend, the Nordic M&A market remains active, especially among small and mid-sized companies.
“The Nordics continues to be a ‘a safe haven’ thanks to political stability and strong innovation. The large number of family- and entrepreneur-owned companies means that deals here are often driven by company-specific events such as succession-planning, rather than the global economic cycle,” says Magnus Ramström, Investment Director at SEB Private Equity.
Within this environment, SEB Private Equity made its final platform investment from its Nordic Direct II fund when acquiring Alarmtech in mid-July. Alarmtech is a leading, family-owned company in the physical security sector.
The Nordic market also provides strong conditions for companies to grow by bringing smaller businesses together to create stronger, more efficient groups. A recent example is SEB Private Equity’s portfolio company Renall, which is actively building scale in the fragmented waste management sector.
“Renall’s fifth acquisition closed in November, which further strengthens its regional footprint, improves efficiency through shared operations, and increases capacity in its core markets,” says Hannes Wall, Investment Manager at SEB Private Equity.
Overall, this reflects SEB Private Equity’s structured approach to building stronger companies: identifying promising sectors, developing clear investment plans, identifying structurally attractive niches, and working closely with management teams to execute targeted consolidation strategies that accelerate growth and improve operational performance.
Read more about Renall’s acquisition, press release from Renall, Dydab blir en del av Renall (in Swedish)