Bertel O. Steen Kapital

Overview

Bertel O. Steen Kapital is a Norwegian private investment firm focusing on unlisted Nordic growth companies. The firm invests in small and medium-sized enterprises (SMEs) with potential for international expansion, taking both majority and minority positions to drive sustainable and profitable growth. Their investment strategy emphasizes active ownership and long-term value creation, providing strategic guidance and access to an established industrial network to support portfolio companies. The firm's investment focus spans various sectors, including technology, healthcare, industrial manufacturing, consumer goods, business services, financial services, energy, media, telecommunications, retail, transportation, logistics, real estate, education, and agriculture. Bertel O. Steen Kapital typically invests between €1.5 million and €3 million in companies at the seed, early stage, and growth stages, primarily in Norway and the broader Nordic region. Bertel O. Steen Kapital is a subsidiary of the Bertel O. Steen Group, a family-owned conglomerate with a history of over 125 years in Norway. The group's core operations include automotive distribution, real estate, and industrial investments. The investment portfolio is managed by Bertel O. Steen Kapital, which focuses on providing active ownership for Norwegian B2B companies with equity values starting at approximately 300 million NOK, aiming to reach valuations of around 1,000 million NOK within a five-year horizon. The firm draws inspiration from Swedish industrial compounders, identifying opportunities in extending their active ownership model to the Norwegian SME sector, a group often overlooked by traditional investment companies due to their size. In 2022, Bertel O. Steen Kapital launched the Bertel O. Steen Industri strategy by acquiring the Ege-Group, a Norwegian family-owned business consisting of 12 companies across the Nordics. Established by Yngve Ege in the 1980s, the Ege-Group had grown through a combination of organic and structural growth initiatives into a significant industry supplier operating within multiple business areas. The acquisition in June 2023 marked a significant step in implementing the firm's strategy of acquiring and developing quality industrial SMEs in a long-term ownership setting, ensuring that customers receive access to premium quality goods and services. This move reflects Bertel O. Steen Kapital's commitment to active, long-term ownership and its focus on driving both organic growth and strategic acquisitions to create a dynamic ecosystem where portfolio companies can collaborate, share insights, and leverage expert resources. Bertel O. Steen Kapital's investment philosophy centers on building strong, resilient companies that thrive in an ever-changing world. By providing financial backing and robust operational infrastructure, the firm enables its portfolio companies to focus on delivering exceptional products and services to their customers. This approach ensures continuity of quality while enhancing professionalism, digital tools, and operational efficiency derived from the Bertel O. Steen network. The firm's commitment to active ownership and long-term value creation positions it as a significant player in the Nordic investment landscape, dedicated to fostering the growth and development of SMEs across the region.

Investment Focus

• Unlisted Nordic growth companies
• Small and medium-sized enterprises (SMEs)
• Potential for international expansion
• Revenue between 50 million NOK and 500 million NOK at the time of investment
• Operating in markets with robust, understandable growth drivers

Portfolio Companies