Nordic Capital agrees to invest in Hjo Installation

• Hjo Installation is based in Hjo, Sweden
• The deal is expected to be completed in third quarter of 2023
• Nordic Capital is a private equity investor based in Stockholm, Sweden

Nordic Capital has entered an agreement to invest in Hjo Installation, a provider of sustainable installation services.

Hjo Installation is based in Hjo, Sweden. The company reported an annual growth rate of 21 percent since 2021 and is expected to generate SKr 2.3 billion (€200.52 million; $225.61 million) in revenues in 2023.

Nordic, in partnership with the Hjo’s management and founders, will support Hjo’s growth, according to a release.

“We’ve followed Hjo Installation for some time and have been impressed by their thriving strategy and vision to gather skilled installers and dedicated founders of local businesses all over Sweden,” said Joakim Lundvall, partner, Nordic Capital Advisors. “This is a good example of a growth company with a strong M&A agenda which Nordic Capital likes to invest in.”

Hjo Installation is Nordic Capital Evolution Fund’s latest investment, following the acquisitions of Qred, Autocirc, Boost.ai, Care Fertility, and Equipe Zorgbedrijven.

The deal is expected to be completed in third quarter of 2023, subject to relevant regulatory approvals.

Nordic Capital is a private equity investor based in Stockholm, Sweden.