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Nordic buy-out firm Altor makes its first investments

Altor Equity Partners, the Nordic buy-out firm set up by Industri Kapital alumnus Harold Mix, has made its first investments. It has acquired two companies in the Nordic receivables management industry, Lindorff and Contant, and plans to merge them together.

‘Together, Contant and Lindorff are a solid foundation to build a leading provider of outsourced receivables management services in the Nordic region. Both companies have very high professional standards of customer service and a strategy to expand beyond their original home markets,’ Mix said in a statement.

The two companies have a combined annual turnover of E170m. The Finnish firm Contant was acquired from Nordea and another private equity group Sponsor Capital. Lindorff was acquired from Norwegian insurance company Gjensidige. In both instances, the vendor will be retaining ‘significant stakes’ in the combined entity.

Altor closed its debut fund with commitments of E650m and was one of the most successful fundraisings of the year.

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