OCTOBER 07 2025
Private equity has evolved far beyond a transactional model. In an interview with Private Equity International, Peter Thorninger, Operating Partner and Head of Operations Advisory at Nordic Capital Advisors, explains how active ownership, deep sector expertise and operational excellence drive resilience and long-term value creation – regardless of the market climate.
Operational excellence as a driver of value
Peter Thorninger emphasises that genuine value creation today requires more than consolidation. To create enduring impact, investors must truly understand what they own at the subsector level, enabling them to support companies in shaping their industries and achieving transformative growth.
At Nordic Capital, operational excellence is not a slogan but a system. The firm carries out more than 300 operational projects each year, generating over EUR 100 million in tangible EBITDA effects through initiatives ranging from performance management to sourcing optimisation. Key to this effort is a strong operational platform, including 30+ operating chairs, a network of industry advisers, and more than 120 functional experts who work hands-on with management in the portfolio.
From onboarding to transformation
The operational agenda begins immediately after investment, with a detailed onboarding process, early market analysis and a joint value creation plan. Assessing and strengthening leadership is critical: ensuring that the right management team is in place, supported by Nordic Capital’s advisory specialists, is a prerequisite for long-term success.
A key enabler is data transparency. Establishing a “cockpit” that provides immediate access to accurate operational data helps management teams move beyond routine tasks to focus on growth and value creation.
Building resilience in uncertain times
Resilience, Thorninger notes, is about withstanding cyclicality and adapting when a tailwind turns into a headwind. Nordic Capital’s focus on four core sectors – Healthcare, Technology & Payments, Financial Services, and Services & Industrial Tech – reflects a selective strategy to invest in subsectors with structural growth, lower cyclicality and strong fundamentals.
By repeatedly investing in the same subsectors, Nordic Capital builds not only deep industry knowledge but also access to seasoned leaders who can be reintroduced across the portfolio. This has enabled companies to withstand macroeconomic shocks while continuing to deliver strong growth.
A long-term journey
Private equity is best understood as a marathon rather than a sprint. Nordic Capital prioritises maximising long-term value creation, beginning exit planning early while ensuring management is engaged and incentivised. The goal is always to leave companies in the strongest possible position for their next phase of growth – whether private or public.
Since inception 35 years ago, Nordic Capital has completed nearly 95 exits, drawing on extensive operational experience to guide companies through transitions and set them up for ongoing success.