Nordic Capital acquires majority share in Sesol, a green tech frontrunner within renewable energy

DECEMBER 12 2023

  • Sesol is a leading, fast-growing Swedish specialist solar PV installer, supporting customers in their renewable energy transition

  • The Company offers solar PV, batteries, and EV chargers with a focus on residential, agricultural, and commercial customers

  • Together with Nordic Capital, Sesol will continue to play a key role in building the electricity network of the future

Nordic Capital has signed an agreement to acquire a majority share in Sesol and enter into a partnership with Sesol’s founders and management to support the continued success of the company’s growth trajectory and expansion. Sesol is a leading specialist solar PV (photovoltaic) installer, offering solar PV, batteries, and EV chargers to residential, agricultural, and commercial customers, helping its customers to reduce CO2 emission through turnkey renewable energy solutions. The Company has in a short time, become one of Sweden's leading installers of solar PV solutions across the entire value chain spanning from planning to the finished installation. The founders of Sesol will continue to be engaged in the company as board members and will stay on as significant minority shareholders alongside Nordic Capital. The current minority owner SEB Private Equity will divest their holding in connection to the transaction.

Sesol is headquartered in Jönköping, Sweden and has, since its foundation in 2019, grown rapidly and profitably from a startup to over 1,000 employees in 14 locations, with forecasted revenues of close to SEK 3 billion for 2023. The company has an innovative and scalable centralised operating model, including a strong salesforce and local in-house installation teams. The company has significant growth potential across products, services, and geographies. Sesol has installed over 500,000 solar panels at more than 20,000 end-users, which resulted in >100 MW capacity in 2022.

Nordic Capital has over 30 years’ experience of accelerating growth of innovative companies and will look to leverage its sector knowledge and operational experience with a focus on organic growth, geographic expansion, digitalisation, and further investments into operational excellence to help realise Sesol’s full potential as a green tech frontrunner. The partnership with Sesol fits well with Nordic Capital’s focus of backing growth companies with business models enabling the green transition as Foxway, Sortera, Autocirc and Hjo Installation.

Robert Szöcs, CEO, Sesol, said: “This is a recognition of our strong business model, skilled employees and outstanding culture and we’re very proud to have Nordic Capital as a new partner on our growth journey. We share the same vision and culture. Now we can strengthen our growth and our offering that will drive the solar energy sector forward."

Victor Salomonsson, Founder, Sesol, said: “We are immensely proud how we have managed to build a leading supplier of solar PV and battery solutions across the entire chain from planning to the finished installation since 2019. Partnering up with an experienced investor as Nordic Capital will provide valuable expertise which will able us to support us on our growth journey as well as our ability to enable more clients to reduce their carbon footprint in an easy and safe manner. We are looking forward to working together.”

Andreas Näsvik, Partner and Head of Industrial & Business Services, Nordic Capital Advisors, said: “We are very impressed with the development of Sesol and how the team has managed to build such an efficient and robust operating model and to become a leader within solar PV installations in only four years. Nordic Capital looks forward to supporting Sesol to reach its goal of becoming a SEK 10 billion company and together continuing to help accelerate the transformation of the energy sector”.

Magnus Ramström, Investment Director, SEB Private Equity said: “We invested in Sesol back in 2022, a differentiated solar PV installer catering an untapped market strongly driven by sustainability and the green energy transition. The partnership represents exactly the type of investments we are looking for, an exceptional management team operating in one of our core investment themes – sustainability. Working with the Sesol-organisation and its founders has been a fantastic growth journey taking the company from approx. SEK 300 million in turnover to its current strong position. We believe that Nordic Capital will be a great new home for Sesol and are confident that Sesol and its management is well-positioned to continue its success story”.

The parties have agreed that the terms of the transaction will not be disclosed. Completion of the transaction is expected in Q1 2024, and is subject to customary closing conditions, including relevant regulatory approvals.

Deutsche Bank acted as financial adviser to Sesol's shareholders.

Media contacts:

Nordic Capital
Katarina Janerud
Communications Manager, Nordic Capital Advisors
Tel: +46 8 440 50 50

Kevin Larsson
Marketing Director
Tel: +46 760 02 68 41

SEB Private Equity
Niklas Magnusson,
Head of Media Relations & External Communication
Group Staff, Control & Support, Stockholm, Sweden
Tel: +46 70 763 82 43


About Sesol

Sesol is one of Sweden's leading suppliers of solar PV installations, offering solutions across the entire value chain, spanning from planning to the finished installation. Sesol’s inhouse team consists of sales teams, project managers and installation teams. The company has over 1 000 employees and delivers solar installations with the highest customer satisfaction in focus. For further information, see

About Nordic Capital

Nordic Capital is a leading sector-specialised private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested EUR 23 billion in 140 investments. The most recent entities are Nordic Capital XI with EUR 9.0 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway, and South Korea. For further information about Nordic Capital, please visit

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures, and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”.

About SEB Private Equity

SEB Private Equity is an active investor in privately owned companies world-wide with total capital under management of c. USD 4 billion from external institutional clients. In the Nordics, SEB Private Equity focuses on control investments in small- to midsized companies within sustainability, technology, and healthcare. The objective is to create long-term value through strategic and operational improvements enabled by an active ownership model.