mynth
← DATABASE
06/2026100%LBO

Flowa Technology acquired by Nordic Capital

SWEDEN Utilities (Regulated Infrastructure) / Water EV SEK 1–10bn

Context

Nordic Capital has entered into an agreement to acquire Flowa from Vestum, marking a significant milestone in Flowa's development and aligning with Nordic Capital's strategy to invest in businesses that provide critical services within essential infrastructure. The rationale behind the transaction is largely driven by the highly favorable market outlook for water and wastewater management in Northern Europe and the UK. Following decades of underinvestment, water infrastructure is facing increasing modernization needs to address population growth, aging networks, and heightened environmental requirements. Notably, the UK is embarking on its largest-ever investment cycle in the water sector, with over £100 billion in infrastructure spending expected in the coming years. In this context, Flowa is well-positioned to capitalize on its strategic expertise in pumping, monitoring, and rapid response solutions, enabling operators to minimize service disruptions and prevent accidental sewage spills. The company operates in both network modernization projects and emergency situations requiring immediate response. The acquisition also reflects the growing interest among investors in businesses exposed to environmental challenges and essential infrastructure, highlighting the increasing importance of sustainable and resilient infrastructure solutions.

By taking control of Flowa Technology, Nordic Capital continues its expansion strategy. Previously, the group had completed 3 acquisitions, including Anaqua in 2024.

Flowa Technology, which reported an EBITDA margin of [members only] in 2026, is valued in this transaction at an EV/EBITDA multiple of 15x–25x.

Target

Serving owners and operators of critical water and wastewater infrastructure across the United Kingdom and the Nordics, Flowa Technology AB delivers specialized engineering services, monitoring technology, and technical pumping solutions. The industrial group coordinates its operational activities through a dedicated network of specialist subsidiaries, maintaining an extensive equipment inventory exceeding 3,000 submersible and surface mounted pumps. Its service offering covers the complete infrastructure lifecycle, encompassing temporary pumping installations, automated water treatment processes, and permanent pumping station maintenance. Operating in highly regulated and technically demanding environments, the company deploys 24/7 rapid-response teams engineered to restore fluid flows and prevent catastrophic environmental incidents or wastewater discharges. The organization combines mechanical hardware with proprietary digital monitoring systems to provide real-time operational visibility, supporting the efficient use of municipal water resources while mitigating ecological impacts. Under the executive leadership of Chief Executive Officer Simon Göthberg, the business model focuses on delivering high-reliability technical interventions for municipal utilities and industrial operators. By pairing custom engineering design with ongoing aftermarket support, the enterprise ensures operational resilience for vital public utility networks.

Ent. Value

SEK 1–10bn

Equity Value

[members only]

Multiples

EV / Revenue

2x–6x

EV / EBITDA

15x–25x

EV / EBIT

[members only]

Historical Financials (SEK)

Year
Rev
EBITDA
EBIT
2026
SEK 1–10bn
SEK 250–500M
[members only]
2025
SEK 1–10bn
SEK 250–500M
[members only]

Other operations with Nordic Capital

Other operations with Nordic Capital
DateAcquirerTargetCountrySector
11/2024NORDIC CAPITALANAQUAUNITED STATESIndustry-Specific Software
11/2020NORDIC CAPITALBRITAX CHILDCAREUNITED KINGDOMPersonal & Household
12/2019NORDIC CAPITALCONSILIUM SAFETY GROUPSWEDENSafety & Security

Similar deals in Utilities (Regulated Infrastructure)

Similar deals in Utilities (Regulated Infrastructure)
DateAcquirerTargetCountrySector
08/2026J.P. MORGAN ASSET MANAGEMENTIDEXFRANCEDistrict Heating
07/2026CVCECOERIDANIAITALYHazardous Waste
06/2026VEOLIACLEAN EARTHUNITED STATESHazardous Waste
05/2026APOLLO GLOBAL MANAGEMENTNOBLE ENVIRONMENTALUNITED STATESCollection & Recycling
05/2026DERICHEBOURGSCHOLZ RECYCLINGGERMANYCollection & Recycling
03/2026MEANINGS CAPITAL PARTNERSMOULINOTFRANCECollection & Recycling
03/2026AMBIENTAP.I.ECOITALYWater
03/2026EQT PARTNERSKELDA HOLDINGSUNITED KINGDOMWater
03/2026HERA GROUPSOSTELIA GROUPITALYWater
03/2026PAPRECCONVERTINIITALYCollection & Recycling

REFERENCES

Valuation range: EV SEK 1–10bn

Revenue range: SEK 1–10bn

EBITDA range: SEK 250–500M

EV/Revenue range: 2x - 6x

EV/EBITDA range: 15x - 25x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Flowa Technology by Nordic Capital are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

FAQ

What transaction does this page cover?

This page covers Nordic Capital’s acquisition of 100% of Flowa Technology, a Swedish company specialised in Water, in 2026, structured as a leveraged buyout (LBO).

How was the acquisition of Flowa Technology by Nordic Capital valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the SEK 1–10bn band, its EV/EBITDA multiple within the 15x - 25x range, and its EV/revenue multiple within the 2x - 6x range. Exact figures are available to members.

What were Flowa Technology’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Flowa Technology generated annual revenue estimated in the SEK 1–10bn range and EBITDA in the SEK 250–500M bracket (FY 2026). Detailed financial figures are available to members.

What sources support the information on this transaction?

The details of this transaction are sourced directly from the official corporate announcement published on the parties’ institutional website, ensuring primary-source verification of the closing and perimeter.

What is mynth?

mynth is the first free M&A database dedicated to Small & Mid-Cap transactions. We centralize Enterprise Values, revenue multiples, EBITDA multiples and transaction financials that are typically locked behind five-figure subscriptions on platforms like Capital IQ or Mergermarket. On mynth, searching and browsing deals is completely free. Our mission is simple: make professional-grade valuation intelligence accessible to every M&A advisor, independent consultant, Private Equity professional and student, without the burden of expensive annual licenses.