White & Case LLP announced on May 11 that it has advised private equity firm Altor on the acquisition and financing of Sertion AB from Consolid Equity and a group of minority shareholders. The transaction includes entrepreneurs and members of management who will reinvest alongside Altor, remaining as key owners to support Sertion’s next phase of growth in current markets and new regions.
The acquisition is significant as it marks another investment by Altor in medium-sized companies within the Nordic region, focusing on value creation through growth initiatives and operational improvements. Since its inception, the family of Altor funds has raised over €12 billion in total commitments and invested in more than 100 companies.
Sertion is described as a leading group providing complex pipework services for business-to-business clients across the Nordics. Its operations include designing, installing, and servicing water, heating, sanitation systems, industrial piping, and energy gas solutions. Headquartered in Stockholm, Sertion employs around 1,000 people with an annual turnover exceeding SEK 3 billion.
The White & Case team advising on this transaction was led by partner Johan Steen from Stockholm. Other partners involved were Kasia Czapracka (Brussels), Oscar Liljeson (Stockholm), Alexander Berlin-Jarhamn (Stockholm), along with associates Maia Bishop and Mia Monas (both Brussels), Jennie Storm, Richard Martin, Denise Sparremo, Emil Admeus, Jana Casar-Borota, Nora Coter, Philip Elias, Viktor Fredriksson, Olivia Jansson, Max Axelsson, Daniel Agnemyr and Anton Löfdahl (all Stockholm).
As entrepreneurs continue to reinvest alongside Altor following this deal, observers may look for further expansion by Sertion into new geographies while maintaining its presence within existing markets.
