FSN Capital

FSN Capital, established in 1999, is a Nordic private equity firm headquartered in Oslo, Norway, with regional offices in Sweden, Germany, and Denmark. The company focuses on the middle-market segment, investing in growth-stage companies across Northern Europe. FSN Capital's investment strategy is long-term and patient, supported by a broad range of Nordic and international institutions. The firm targets companies in sectors such as commercial products, information technology, business services, and manufacturing, with an enterprise value typically ranging from EUR 400 to EUR 2000 million. FSN Capital also seeks ESG investments, aligning with Article 8 of the EU SFDR. The firm's funds, including FSN Capital III, IV, V, and VI, reflect this strategy, investing in countries like Denmark, Finland, Norway, and Sweden.

Andreas Damgaard

Investment Associate

Lars Denkov

Partner

Nikolai Doepel

Investment Associate

Talitha Eber

Investment Director

Marcus Egelstig

Partner

Debbie Fellmerk

Investment Manager

Kristina Wirén González

Investment Manager

Maria Grøner

Investment Manager

Moritz Hafner

Principal

Nicholas Hjorth

Principal

Jesper Isaksen

Partner

Joar Jansson

Investment Manager

Christian Jelsbech

Investment Manager

Adeline Jennische

Principal

Mike Joseph

Investment Associate

Justin Kent

Partner

Eskil Koffeld

Partner

Simon Larsson

Principal

Severin Loos

Investment Director

Moritz Madlener

Investment Manager

Robin Mürer

Co-Managing Partner

Erik Nelson

Partner

Clemens Plainer

Investment Director

Reginald Seawright

Investment Director

Ulrik Smith

Co-Managing Partner

Barbara Stolz

Investment Manager

Frode Strand-Nielsen

Founder and Managing Partner

Marie-Christine Volkert

Investment Associate

Eirik Hjeltnes Wabø

Investment Director

Maximilian Weimann

Investment Manager

Marcus Wintersø

Investment Director

Stephan Zogbaum

Investment Associate

Past deals in Denmark

PolyTech

Private Equity Round in 2023
PolyTech specializes in providing development, testing, and production services, particularly within the wind-energy sector across various countries, including Denmark, Germany, China, and Mexico. The company is recognized for its expertise in Lightning Protection Systems (LPS) and Leading Edge Protection. By operating large-scale production facilities and accredited test centers, PolyTech supports original equipment manufacturers (OEMs) and aftermarket customers in the design, testing, and optimization of their assets. Their engineer-driven approach encompasses the entire value chain, allowing them to address clients' specific needs through innovative solutions in lightning protection, blade monitoring, and transport equipment. With a strong emphasis on understanding customer objectives, PolyTech seeks to form partnerships that ensure successful project outcomes.

Obton

Funding Round in 2020
Obton is a long-term investment partner with experience in creating stable returns through investment in solar parks. It offers alternative investment projects specializing in creating the best returns through green operating assets. The company was founded in 2006 and operates in Aarhus, Denmark.

bygghemma

Acquisition in 2016
Bygghemma.se is a prominent online retailer specializing in do-it-yourself and building supplies, established in Sweden in 2006. The company has expanded significantly, operating 10 online stores and six physical locations across the Nordic region. Bygghemma's mission focuses on providing a diverse selection of building products at competitive prices, with home delivery services tailored mainly for individual customers seeking quality supplies from well-known brands. The Construction Home Group, which owns Bygghemma, employs approximately 250 individuals across eight offices in Sweden, Norway, Denmark, and Finland. The group, headquartered in Malmö, reported sales of SEK 2 billion in 2015. The brand encompasses various specialized online stores, including golvshop.se, badshop.se, and linoleumkompaniet.se in Sweden, along with taloon.com and netrauta.com in Finland, bygghjemme.no in Norway, and byghjemme.dk in Denmark, among others.

Netcompany A/S

Venture Round in 2016
Netcompany A/S is a Danish IT services company that specializes in delivering business-critical IT solutions to both public and private sector clients across multiple countries, including Denmark, Norway, the United Kingdom, the Netherlands, Poland, and Vietnam. Founded in 2000 and headquartered in Copenhagen, the company provides a wide range of services, including the development, maintenance, and operation of IT solutions in areas such as digital platforms, application development, cognitive computing, e-commerce, enterprise resource planning, customer relationship management, and data management. Netcompany serves diverse sectors, including finance, government, manufacturing, retail, telecommunications, and utilities, utilizing advanced technologies to enhance business efficiency and effectiveness. With approximately 400 employees across offices in Copenhagen, Aarhus, and Aalborg, Netcompany emphasizes a combination of technical expertise and agile delivery to meet client needs.

Netcompany A/S

Acquisition in 2015
Netcompany A/S is a Danish IT services company that specializes in delivering business-critical IT solutions to both public and private sector clients across multiple countries, including Denmark, Norway, the United Kingdom, the Netherlands, Poland, and Vietnam. Founded in 2000 and headquartered in Copenhagen, the company provides a wide range of services, including the development, maintenance, and operation of IT solutions in areas such as digital platforms, application development, cognitive computing, e-commerce, enterprise resource planning, customer relationship management, and data management. Netcompany serves diverse sectors, including finance, government, manufacturing, retail, telecommunications, and utilities, utilizing advanced technologies to enhance business efficiency and effectiveness. With approximately 400 employees across offices in Copenhagen, Aarhus, and Aalborg, Netcompany emphasizes a combination of technical expertise and agile delivery to meet client needs.

Fitness World AS

Venture Round in 2015
Fitness World AS is a fitness club operator that manages over 100 centers across Ireland. It also provides personal training, group training, and nutritional counseling services. Fitness World is based in Denmark.

Fitness World AS

Acquisition in 2015
Fitness World AS is a fitness club operator that manages over 100 centers across Ireland. It also provides personal training, group training, and nutritional counseling services. Fitness World is based in Denmark.

HusCompagniet

Venture Round in 2011
HusCompagniet A/S is a prominent house builder primarily operating in Denmark, with expanding activities in Sweden and Germany. The company specializes in the design, sale, and delivery of customizable single-family detached houses, which are largely constructed on-site on land owned by customers. Additionally, HusCompagniet offers semi-detached houses to both consumers and professional investors, and produces prefabricated wood-framed houses under the VårgårdaHus brand in Sweden. Headquartered in Horsens, Denmark, the company has established a strong market presence, being three times larger than its nearest competitor in Denmark. Since its incorporation in 2015, HusCompagniet has achieved significant revenue growth and has been recognized as House Builder of the Year in Denmark for three consecutive years, employing around 230 people and delivering over 1,000 houses annually across its markets.

HusCompagniet

Acquisition in 2011
HusCompagniet A/S is a prominent house builder primarily operating in Denmark, with expanding activities in Sweden and Germany. The company specializes in the design, sale, and delivery of customizable single-family detached houses, which are largely constructed on-site on land owned by customers. Additionally, HusCompagniet offers semi-detached houses to both consumers and professional investors, and produces prefabricated wood-framed houses under the VårgårdaHus brand in Sweden. Headquartered in Horsens, Denmark, the company has established a strong market presence, being three times larger than its nearest competitor in Denmark. Since its incorporation in 2015, HusCompagniet has achieved significant revenue growth and has been recognized as House Builder of the Year in Denmark for three consecutive years, employing around 230 people and delivering over 1,000 houses annually across its markets.

Lagkagehuset

Venture Round in 2008
Lagkagehuset A/S is a prominent bakery and café chain based in Copenhagen, Denmark, with additional locations in the United Kingdom and the United States. Established in 1997, the company specializes in a wide array of baked goods, including artisanal bread, rye bread, cakes, pastries, donuts, and sandwiches. In addition to these offerings, Lagkagehuset provides breakfast and lunch services, featuring items such as layer cakes, sausage rolls, fresh juices, and a selection of coffee and hot drinks. The business emphasizes in-house bakery production and maintains a flexible concept that allows for various store sizes, from traditional bakeries to smaller urban outlets. Customers can also access Lagkagehuset's services through a dedicated application, enhancing their convenience.

Jamo

Acquisition in 2001
Jamo is a prominent audio systems developer based in Denmark, recognized as the largest producer of loudspeaker systems and home theatre solutions in Europe. The company specializes in designing and marketing a diverse range of audio products, including home cinema systems, personal audio solutions, wall-mounted speakers, soundbars, amplifiers, and studio speakers. In addition to its product offerings, Jamo provides installation services to enhance the customer experience.

Jamo

Venture Round in 2001
Jamo is a prominent audio systems developer based in Denmark, recognized as the largest producer of loudspeaker systems and home theatre solutions in Europe. The company specializes in designing and marketing a diverse range of audio products, including home cinema systems, personal audio solutions, wall-mounted speakers, soundbars, amplifiers, and studio speakers. In addition to its product offerings, Jamo provides installation services to enhance the customer experience.
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