Sortera | Case Study | Nordic Capital | Nordic Capital
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Sortera: Scaling sustainable construction waste management across Northern Europe

Since Nordic Capital's investment, Sortera has grown from a well-regarded Swedish recycler into an international platform for sustainable construction waste management. Through a disciplined acquisition strategy, significant investment in digital infrastructure and a clear sustainability agenda, Sortera is building a leading Northern European platform for sustainable construction waste management.

The construction sector is one of Europe's most resource-intensive industries, accounting for around 40 percent of the EU's energy consumption, 36 percent of greenhouse gas emissions and up to 30 percent of all waste, yet construction waste management has historically been fragmented, analogue and inefficient. Founded in 2006, Sortera was built to change that.

Identifying a resilient, regulation-driven opportunity

Nordic Capital had been monitoring the sector for several years before investing in Sortera. The combination of a structurally attractive niche and a business with operational depth and strong sustainability credentials made it a compelling opportunity.

The investment thesis rested on several converging dynamics. Environmental regulation is raising the bar for waste handling, with smaller local providers increasingly unable to meet compliance requirements. At the same time, demand for recycled materials and more circular waste management solutions is accelerating as the construction industry faces pressure to reduce its carbon footprint.

With deep subsector understanding, operational expertise and sustainability know-how, Nordic Capital considered itself well placed to support the business in the years to come.

Expanding across markets through targeted acquisitions

Since 2021, Sortera has pursued an acquisition strategy to build scale in existing markets and establish a platform in new ones. With Nordic Capital's buy-and-build experience and international network behind it, Sortera has strengthened its position with eleven bolt-on acquisitions.

Nowhere is this more visible than in the UK, where Sortera has built a meaningful presence through targeted acquisitions. The 2022 acquisition of O'Donovan Waste Disposal established a foothold in the London construction waste market. In 2023 and 2024, Sortera acquired GBN Services and Reston Waste Management, respectively, further deepening its reach. Closer to home, the 2022 acquisition of RGS Nordic's Swedish operations strengthened Sortera's position in soil decontamination, while the 2024 acquisition of REWALBI Miljöteknik extended its capabilities into water treatment, broadening the service offering beyond waste into adjacent environmental services. Together, these moves have strengthened Sortera's position across markets, broadened its service offering and created a stronger platform for continued growth.

Today, Sortera is a leading full-service environmental services provider, employing approximately 1,000 people, generating revenues of EUR 295 million and operating across Sweden, Finland and the UK.

Turning waste into resources

In 2025, Sortera handled approximately 2.4 million tonnes of waste and residual products from customers in the construction and infrastructure sectors, around 60 percent of which consisted of heavy masses such as soil and inert materials. By processing and reintroducing materials into the value chain as secondary resources, Sortera helps reduce reliance on virgin raw materials and supports more circular material flows.

One example is Sortera's treatment of stone waste. Excavated stone is crushed and screened into recycled aggregates for use in construction and civil engineering projects, reducing the need for virgin materials. Sortera is also working to reduce the footprint of its own operations. Its science-based climate targets have been validated by the Science Based Targets initiative, and Scope 1 and 2 emissions were 24 percent below the 2022 baseline in 2025.

Digitalising the customer experience

In recent years, Sortera has invested significantly in digital infrastructure. With Nordic Capital's support, Sortera has digitalised the customer journey from end to end, from the moment waste appears on-site through sorting, recycling and final reporting.

This has improved efficiency and transparency for customers. Through its digital customer portal, clients can place orders, access project and waste reports and track how materials are handled, providing greater transparency and supporting increasingly demanding traceability and reporting requirements.

The road ahead

Sortera has the momentum to shape the future of sustainable construction waste management in Northern Europe. With an established platform across several European markets, a proven acquisition playbook, a differentiated digital offering and a clear sustainability agenda, the building blocks for continued growth are in place.

Nordic Capital remains committed to supporting the next phase of this journey, accelerating the build-out in existing markets, expanding into new geographies and deepening the impact Sortera delivers for the circular economy.

Three questions to Sebastian Wessman, CEO of Sortera

What has Nordic Capital's ownership meant for Sortera's development?

Nordic Capital has been truly aligned with our overall goals, showing great faith in the management team to execute on the strategy agreed on together. As an active owner, they have contributed vast experience from internationalisation processes, helping us avoid pitfalls on this journey and move faster than we could have done alone.

What achievement are you most proud of?

One thing that stands out is the expansion of our UK presence in such a short time. Going from no footprint to being a leading operator in London's construction waste market is something the whole team should be proud of. Beyond the deals themselves, what I am most proud of is how we have integrated those businesses while keeping the focus on customers and quality. That is not a given in a rapid expansion.

How do you see Sortera evolving over the coming years?

We have built a strong platform and proven that our model travels well. Now the opportunity is to take it further. The regulatory environment is moving in our direction across Europe, and the demand for sustainable, transparent waste management is only going to grow. We are well placed to lead that development.

Published: August 2026

Sortera Clean Green Bg

SECTOR

Services & Industrial Tech

REVENUES 2025

EUR 295 million

EMPLOYEES

1,055

OWNERSHIP

Fund X

INVESTMENT DATE

2021

HEAD OFFICE

Stockholm, Sweden