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Alder invests in EWGroup, a leading provider of land and soil remediation services.

Alder invests in EWGroup, a leading provider of land and soil remediation services

Stockholm - September 13th, 2023 - Alder, a Nordic investment fund focusing on the development of sustainable companies, has closed an investment in EWGroup AB ("EWGroup" or the "Company"). Alder will become majority owner of EWGroup and will partner with management to continue the growth journey of the Company.

EWGroup, founded in 2013, is a one-stop-shop for the full treatment cycle of contaminated materials. The Company focuses on land and soil remediation, primarily treating borrow material generated by the construction industry. The Company is headquartered in Norrköping, Sweden with 45 employees and has a track record of profitable organic growth, achieving revenues of 200+ mSEK in 2022.

EWG operates in a growing and resilient market with strong support from industry and macro trends and increased environmental awareness for sustainable business practices. Demand for recycling services for construction waste and its residual products extensively exceeds current supply. The environmental benefits are related to increased treatment and recycling rate of inbound waste to minimize the use of scarce and finite resources.

As the new majority owner, Alder will provide capital, experience, and support to enable EWGroup to continue its growth journey through geographical expansion and further developments of the company's capabilities to address existing and new treatment technologies to increase circularity and reuse.

"Since the first meeting, the EWGroup team has impressed us with their strong company culture, advanced offering, and novel thinking around circularity in a traditional industry. Construction and renovation are sectors accounting for most of the GHG emissions in the world. We look forward to growing the Company in partnership with management, building on the strong foundation accomplished so far"

says Arash Raisse, Partner at Alder

"Partnering with Alder will allow us to work with a partner that shares our values and can help us reach EWGroup's full potential. We have built a close relationship with Alder during the process and were impressed by their industry insight and previous company development experience. For us it was key to have a partner with a shared vision for what we aim to achieve"

says Max Lindqvist, CEO and minority owner and Per Lindqvist, founder of EWGroup

For more information, please contact:

Arash Raisse
Partner at Alder
Tel. +46 725 00 62 55

Max Lindqvist
CEO of EWGroup
Tel. +46 735 32 26 01

About EWGroupp

EWGroup started as a family-owned company established in 2013 with headquarters in Norrköping focusing on land and soil remediation, primarily treating borrow material generated by the construction industry being a one stop shop for the full treatment cycle. Operates through 4 strategically located facilities near urban centers and infrastructure projects and employs ~45 employees. Customers are municipals, commercial end users and transportation operators.

For more information, visit

About Alder

Alder is a Nordic investment fund with the goal of creating the best possible conditions for long-term development of sustainable technology and services companies. With a mix of industrial and financial expertise and with the interest in entrepreneurship as a driving force, Alder creates profitable growth in close companionship with our companies.

Alder divests Satel - a leader in mission critical connectivity solutions

Alder Fund I AB ("Alder") and the minority shareholders of Satel Oy ("Satel" or the "Company") have agreed on a sale of the Company to Topcon Positioning Systems ("Topcon"), a global designer, manufacturer and distributor of precision measurement and workflow solutions for the global construction, geospatial and agriculture markets. Topcon Positioning Systems is headquartered in California, USA.

Satel is a Finnish global radio technology company at the forefront of developing and manufacturing a variety of mission-critical multi-technology connectivity modules for industrial and sustainable autonomous systems. Its radio frequency technologies are relied on by precision positioning, environmental monitoring, smart farming and land-surveying ecosystems, amongst other demanding industries.

Alder invested in Satel in November 2014. During Alder's ownership, Satel has focused its growth efforts on applications and customers with the highest requirements for reliability, accuracy and security. Substantial investments have been made to develop the technology offering, the organization and to build strong partnerships with a global customer base through designed-in, modularised connectivity solutions. As a result, Satel has developed strongly, strategically and financially, since 2014. Satel's contributions to the enabling of low carbon technologies have had far-reaching environmental benefits. With a taxonomy eligibility of 97% of turnover, Satel's positive environmental handprint has developed in tandem with its growth.

"We are proud of the leading position that Satel has built in the field of communication technology, the strong team in Salo (Finland) and the excellent relations with the Company's global network of specialist value-added distributors and OEM customers. It has been a privilege to work with this management team and Board, and Satel can now, with Topcon as its new owner, accelerate the implementation of the Company's vision of mission critical connectivity, tightly integrated and tailored to the most demanding applications and conditions",

says Henrik Blomé, Partner at Alder.

The transaction was closed in June 2023.

For more information, please contact:

Henrik Blomé
Partner, Alder
+46 706 380 130

About Alder

Alder is a Nordic investment fund with the goal of creating the right conditions for sustainable technology companies to accelerate growth and strategic development. All our companies deliver an environmental benefit. Our investment focus is on established companies with profitable growth and sales of between 100 and 750 million SEK. Alder invests primarily as majority owner in companies that are established in the Nordic countries but can also invest selectively in the rest of Europe, especially in the German speaking countries.

Navigating the world of reporting regulations

An interview with Alder Sustainability Manager, Eva Normell

Eva Normell joined the Alder team as Sustainability Manager in 2021. Here we talk to Eva about how she keeps on top of the ever-changing field of sustainability reporting regulations and ask what companies need to consider when working with them.

Can you tell us about your role at Alder?

Eva: My role as Sustainability Manager is to support the Alder team with the knowledge and tools to find companies that are aligned with our values and ambitions. I also work closely with our portfolio companies to help them integrate sustainability into strategy and leverage their positive impact while also reducing the environmental footprint of operations. We want to be part of driving the European Green Deal and be a role model for what's needed to make business part of a resilient future.

What are some of the new and forthcoming EU sustainability reporting policies and regulations that companies like Alder need to be aware of?

Eva: Over the last couple of years, the EU has released several new sustainable finance regulations in line with the EU Green Deal. The SFDR and the EU Taxonomy lie at the cornerstone of this effort, and they are both super ambitious and are changing the dynamics of sustainable finance.

How do you prepare Alder and its companies to comply with these regulations?

Eva: We prepare in many ways. The first step is to keep track of how the regulations and guidelines evolve. We are aligned with the SFDR from January 2023, as required, but the regulations are so new that they are a bit like a moving target.

Since 2021 we have been working on our companies' EU Taxonomy journey - understanding and adapting to determine their eligibility and alignment and to describe the contribution they make to sustainability using this new language. We have performed a thorough GHG inventory to become serious participants in the "race to zero" and learn more about our emissions throughout the entire value chain, including scope 3. We also track data across all our companies to regulary report on Principle Adverse Impacts (PAI).

New for this year, we have chosen to implement a common Sustainability Management platform that automates the collection, processing and visualization of sustainability data using SustainLab's tools, which will make things much easier to access understand and track in the coming years.

"Focus on value creation and what you want to achieve!"

What are the main challenges of regulation alignment?

Eva: For many companies, the obvious challenges are usability, lack of availability of ESG data, data gathering problems, and inconsistent use of terminology. But I see the bigger challenge being that we can get so caught up in the details of data gathering and number crunching that we forget what's important. We fail to focus on improving how we work, reducing and improving resource use, cutting emissions and leveraging and supporting companies with positive environmental impact to take faster and bigger steps.

Other challenges are securing enough in-house ESG expertise, awareness and training, and integration of sustainability into business models and strategies. One particular challenge for Alder with the EU Taxonomy is that it is trying to definitively define sustainability, but it is actually not comprehensive. At Alder, we look deeper into the mechanics of a sustainable economy and find companies playing critical roles in monitoring, communicating and controlling resource use, efficiency and safety. Many of these areas are not yet included in the taxonomy, but they are important to enable their customers to be sustainable. We hope that the taxonomy will not limit the definition of sustainability so that we don't see the economy in all its richness and inventiveness because it is just this that we really need for the transition.

All these new requirements may seem daunting to many companies, but what are the benefits or opportunities they pose?

Eva: They are a great way to create trust. For example, since all our funds are categorised as Article 9 according to SFDR, our investors have a guarantee that we are serious and that sustainable investments are our main objective. When it comes to the Green Deal, there is an opportunity to be part of a unified language and approach, which will hopefully create a whole new level of understanding. These more transparent ways of measuring sustainable activities, aim to avoid greenwashing, so that investors can be sure they are contributing to real change.

Do you have any advice for other companies about how to keep on top of new directives and regulations?

Eva: Focus on value creation and what you want to achieve! You can't avoid the groundwork, so do it in a way that you can manage moving forward. Start measuring, even if it is not perfect, so you have a baseline. And perhaps most importantly, be brave! Don't let the regulations put you off, we need to make bold changes to create a resilient future. The regulations provide a valuable framework for sustainability efforts, but they should just strengthen your work and not dictate what you want to achieve.

Internship! Six months full-time position, spring or autumn 2023?


Stockholm-based internship at private equity firm Alder, focusing on the development of environmentally sustainable companies with high growth potential.

About Alder

Alder is a Stockholm-based private equity firm with the goal of creating opportunities for environmentally sustainable companies to accelerate growth. Sustainability is a core part of Alder's investment thesis and values, and we invest in companies that create both economic profit and environmental benefit. Alder invests in small- and mid-cap Nordic companies with established businesses models and high growth potential.

Alder has €250m in assets under management, has made sixteen platform investments and more than fifty add-on acquisitions to date, in industries such as smart energy metering, water treatment and intelligent transportation.

At Alder, we value diversity and believe that different backgrounds contribute to making our team stronger. Our team works closely together with inclusive and transparent decision-making. We mix industrial and financial expertise and believe in entrepreneurship as a driving force.

The Role

Alder is a flat organisation consisting of a small and tight-knit team. As a part of the team, you will gain experience from all stages of the private equity investment process and be given significant responsibility, including but not limited to:

  • Screening for new investment opportunities
  • Company valuations and close participation in investment processes
  • Strategic and financial analysis of markets and companies
  • Supporting the Alder team and portfolio company management in value creation initiatives

We are looking for an ambitious individual, fluent in Swedish and English, to join our team in Stockholm for a full-time internship during spring or fall 2023.

You are likely pursuing a degree in a relevant MSc programme, e.g. Finance, Accounting or Industrial Engineering. Relevant work experience is a great plus. You are an analytical individual with a strong interest in finance and business development. You are open-minded and look forward to working in an environment characterised by Alder's values: Development, Collaboration, Persistence and Sustainability in all aspects.

The spring position commences in January 2023 and the fall position in August 2023. Each internship lasts up to six months, depending on personal preferences.

How to apply

Please send your application including a curriculum vitae, cover letter and grade transcript to, on the 15th of October 2022 at the latest. We encourage you to send your application as soon as possible as we will start interviewing candidates prior to the deadline. For more information, please contact Erika Ankarberg by email.

Back to work!

We hope you feel refreshed, inspired and ready for what the rest of the year has to offer.

Autumn is the perfect time for rethinking and setting new intentions and goals. Just so, we want to take the chance to inspire you with a short video clip from our Executive Training in Resilience Thinking that we held together with our portfolio companies and the Stockholm Resilience Center during two intense and interesting days in May. During these two days, our portfolio companies had the opportunity to further strengthen the long-term sustainability and competitiveness of their strategies by listening to prominent speakers and discussing ways to further improve their impact in a series of workshops.

Executive Training in Resilience Thinking

Over the past two days, the Alder Team has participated in an Executive Training in Resilience Thinking together with the Stockholm Resilience Centre. We have had the privilege to listen to prominent speakers, including Carl Folke (co-founder and chairman of the Stockholm Resilience Centre and director of the Beijer Institute, Royal Swedish Academy of Sciences), Johan Kuylenstierna (chairman of the Climate Policy Council), Per-Anders Enkvist (founder and CEO of Material Economics), Henrik Henriksson (CEO of H2 Green Steel, former CEO of Scania), Lisen Schultz (Director of Training at Stockholm Resilience Centre) and Hans Beyer (Sustainability Manager at SEB).

In addition to increasing our knowledge on sustainability-related topics and taking part in inspiring presentations and discussions, our portfolio companies have had the opportunity to further strengthen the long-term sustainability and competitiveness of their strategies through a series of workshops.

The Alder team would like to thank all participants, including our portfolio companies, the Stockholm Resilience Centre and keynote speakers, for their enthusiasm, commitment and credible discussions on transformative and actionable change. We look forward to continuing our mission to increase resilience in our businesses!

Alder II acquires AB Inventech

Alder invests in automation company AB Inventech

Stockholm - December 17th, 2021 - Alder II AB ("Alder"), a Nordic investment fund focusing on the development of environmentally sustainable companies, has closed an investment in AB Inventech A/S ("AB Inventech", or the "Company"). Alder will become the majority owner of AB Inventech and will partner with the Company's founder and management to continue the growth journey.

AB Inventech, founded in 1989, is a leading supplier and provider of automation applications and processes, primarily for global wind turbine blade manufacturers. With an attractive product and service offering, AB Inventech adds value to its customers by improving productivity, quality, work environment safety and cost of production through automation and professionalisation of manufacturing processes.

The wind turbine industry is growing, fuelled by structural market drivers of increasing energy demand, environmental focus, and consensus of its importance as a source for power generation long-term. Market trends of growing investments in wind turbine capacity, blade technology development and automation and professionalisation of production drive demand for AB Inventech's products and services.

As the new majority owner, Alder will provide capital, experience, and support to enable AB Inventech to continue its growth journey internationally.

"We are impressed by the quality products and services supplied by AB Inventech under Arne Bech's and Niels Kirkegaard's management. The Company has built up considerable expertise and insight into the manufacturing of wind turbine blades, and we see a need for their knowhow and technologies as wind turbine blade manufacturing becomes increasingly complex. We are keen to enter into partnership with the skilled management team at AB Inventech to support them in their future international growth."

says Jonas Frick, co-founder and partner at Alder

"With Alder as majority shareholder, we now have a strong and active partner with whom we can strengthen AB Inventech's presence on the international markets within automation solutions for the wind turbine industry. This will go a long way towards meeting the wishes of our international customers."

says Niels Kirkegaard, CEO of AB Inventech.

For more information, please contact:

Jonas Frick
Partner at Alder
Tel. +46 70 763 05 34

Niels Kirkegaard
CEO of AB Inventech
Tel. +45 4094 5022

About AB Inventech A/S

AB Inventech A/S is a recognised player in the automation industry and as a supplier of specialist machines - in Denmark and internationally. AB Inventech A/S focuses in particular on production equipment for the manufacturing wind turbine blades and handling industrial composite fibres. In recent years, the carbon fibre reinforcement of wind turbine blades has been a key growth area for the company, which is now world-leading within the field. AB Inventech A/S has approximately 100 employees and is based in Ikast in Jutland.

For more information, visit

About Alder

Alder II AB is a Nordic investment fund with the goal of creating the best possible conditions for long-term development of sustainable technology and service companies. With a mix of industrial and financial expertise and with the interest in entrepreneurship as a driving force, Alder creates profitable growth in close companionship with our companies.

Alder II invests in Centriair

Alder invests in Centriair, a leading industrial airborne odour and emissions treatment company

Stockholm - December 6, 2021 - Alder II AB ("Alder"), a Nordic investment fund focusing on the development of sustainable technology and services companies, closed an investment in Centriair Holding AB and its subsidiaries ("Centriair" or the "Company"). Alder will partner with Centriair's founders and management to continue the growth journey of the Company.

Centriair, founded in 2007, designs, develops and delivers airborne odour and volatile organic compound (VOC) emissions abatement systems for process industries, resulting in lower concentrations of harmful gases and aerosols. The Company has a leading offering for demanding applications and a strong position in the waste, food and biogas segments in primarily the Nordics, DACH and the UK. Centriair has a recent history of strong growth, increasing its revenues by an annual growth rate of 50% in the past six years. The growth is attributable to a competitive technology offering and growing demand based on changing customer preferences and stricter regulation.

Environmental sustainability is an important aspect of Centriair's business model, offering solutions that help remove harmful aerosols and gases from process air, providing clean air within industrial processing environments and public spaces. The Company is headquartered in Sävedalen, Sweden, and has an annual turnover of ca. 100 MSEK with ca. 40 employees. Alder will provide capital, network and experience from other investments in related fields such as air filters and gas emissions analysis. Furthermore, Mats R Karlsson will join as Chairman providing considerable industrial and growth experience.

"Centriair is a company in an attractive market that has shown impressive growth in the past few years. Run by a highly competent and entrepreneurial team, the Company continuously aims to deliver a leading technology offering within its field. We look forward to working in unison with the founders, management and Board to continue the Company's growth journey"

says Dag Broman, Partner at Alder

"At Centriair we can be proud of the success we have achieved so far. The success has enabled us to now strengthen the owner base by taking in significant capital to invest into the business and continue our growth journey. We have built a mutual trust with Alder and believe in their ability to support us in this next phase."

says Jack Delin, CEO and Co-Founder of Centriair

For more information please contact:

Dag Broman
Partner at Alder
Mobile +46 70 516 40 18

Jack Delin
CEO Centriair Holding
Phone +46 70 777 87 81

About Centrair A/S

Centriair was founded in 2007 and develops technology leading solutions for the abatement of industrial airborne emissions, primarily in the Nordics and DACH regions. Centriair works on behalf of customers within the biogas, waste, wastewater and food segments to meet emissions requirements of customers, authorities and the public.

For more information, visit

About Alder

Alder II AB is a Nordic investment fund with the goal of creating the best possible conditions for long-term development of sustainable technology and services companies. With a mix of industrial and financial expertise and with the interest in entrepreneurship as a driving force, Alder creates profitable growth in close companionship with our companies.