Trill Impact acquires Nordomatic from Adelis Equity

Sister publication Mergermarket previously reported that Nordomatic has a pro forma EBITDA of SEK 100m (€9.2m).

During Adelis's four-year ownership, the company tripled sales from SEK 290m to SEK 880m (€85.1m). It has also made several strategic acquisitions across the Nordic region, notably Dominus in Denmark and SD-Consult in Norway.

Trill Impact is a Nordea-linked private equity firm founded in 2019 and is focused on mid-sized companies in northern Europe with the potential to accelerate value creation while contributing to sustainable development goals. 

Previous funding
Adelis in 2016 acquired a majority stake in Nordomatic together with management and key employees. It used its 2012-vintage €410m vehicle, Adelis Equity Partners Fund I, to deploy equity. 

Company
Founded in 1967 and headquartered in Stockholm, Nordomatic offers building management systems (BMS) for new projects, retrofits and upgrades, including cloud-based smart systems. The company in 2019 generated pro-forma revenues of SEK 880m and employs more than 400 people at 20 locations in Sweden, Denmark and Norway.

People
Nordomatic – Olov Schagerlund (CEO).
Trill Impact – Samir Kamal (partner).

Advisers
Equity – Nordea (corporate finance); Deloitte (financial due diligence); White & Case (legal).

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• Topics
• Buyouts
• Nordics
• Adelis Equity Partners
• Sweden