Valedo Partners III AB (“Valedo”) has divested Eltera Gruppen AS (“Eltera”) to Altor Fund VI. During Valedo’s ownership, Eltera has grown approximately seven times and developed into Norway’s largest independent electrical installation services company with a nationwide presence.
Since Valedo invested in Eltera in 2021, the company has grown from a local player into Norway’s largest independent electrical installation services company, with more than 30 operating units and over 1,000 employees. Eltera has developed a decentralized operating model in which local units enjoy a high degree of autonomy, while the group provides central support functions and economies of scale, including a shared IT platform, centralized procurement, and resources in both marketing and sustainability.
“Ever since I founded Eltera in 2013, I have had a vision of building a leading player with nationwide reach. After Valedo became a shareholder in 2021 and provided expertise and capital, I was able to realize that vision. After five years, twenty-seven acquisitions, and significant investments in the organization, we have achieved that goal. I would like to thank everyone who has contributed to this journey, including Eltera’s employees, our customers, the board and Valedo, for helping develop Eltera into a leading electrical installation services company with nationwide presence,” says Thorleif Haug, Founder and CEO of Eltera
The terms and conditions of the transaction are not disclosed and the transaction is subject to approval by the Norwegian Competition Authority.
About Valedo:
Valedo is an independent Swedish investment company investing in high-quality small/mid cap companies in the Nordic region. Valedo is focusing on companies with clear growth and development potential where Valedo can actively contribute to and accelerate the companies’ development. Being an active owner and contributing with both capital and industrial experience, Valedo ensures that a company can achieve its full potential.
About Altor:
Since inception, the family of Altor funds has raised more than EUR 12 billion in total commitments. The funds have invested in more than 100 companies. The investments have been made in medium-sized companies predominantly in the Nordic and DACH regions with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Eleda, Carnegie Investment Bank, Nordic Climate Group, OX2 and Nordic Tyre Group.