SERTION acquired by ALTOR
Context
Altor, through its investment vehicle Altor Fund VI, acquires a majority stake in Sertion, with entrepreneurs and management reinvesting meaningfully and remaining key owners. The transaction is expected to accelerate Sertion's next phase of growth across existing markets and into new geographies, leveraging Altor's expertise and resources to support the company's expansion. The partnership will enable Sertion to further strengthen its market position, driven by its strong local entrepreneurship and the advantages of scale. With Altor's support, Sertion is well-positioned to continue its above-market growth and strategic expansion, while maintaining its focus on delivering high-quality services to its customers. The transaction is subject to customary regulatory approvals and is expected to close in the near future. The strategic rationale behind the deal is to create a leading Nordic platform for complex pipework services, with a strong focus on technical expertise, customer proximity, and operational performance. The deal has significant market implications, as it is expected to drive growth and consolidation in the Nordic pipework services market, while also creating new opportunities for Sertion to expand into new markets and geographies.
SERTION, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Business Services sector (11.1x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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Target
Sertion AB is a leading Nordic specialist in complex pipework services, serving a broad range of commercial, industrial, and infrastructure end-markets where reliability, technical expertise, and safety are essential. The company operates across the full pipework value chain, from engineering and prefabrication to installation, service, and ongoing operations, delivering its services through 16 local entities and approximately 1,000 full-time employees across Sweden, Norway, and Denmark. Sertion combines strong local entrepreneurship with the advantages of scale, enabling market-leading customer proximity and operational performance. The company has demonstrated consistently strong organic growth and margin expansion, with a proven track record of delivering high-quality services to its customers. With its deep technical expertise and complementary services across local entities, Sertion is well-positioned to continue its above-market growth and strategic expansion, supported by a proven and experienced management team.
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Historical Financials (SEK)
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REFERENCES
Revenue range: 2.5b - 5b SEK
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Press release: view release
Target: sertion
Acquirer: altor