From financial investor to financial investor: The Finnish cleantech supplier Evac gets a new owner.
The British investor Bridgepoint has announced the “complete sale” of its stake in Evac to Altor Equity Partners. The Finnish Evac Group is active in the field of water processing and corrosion protection technologies, among other things. In recent years, Evac has grown through a number of acquisitions, including Deerberg Systems from Oldenburg and Virtus GmbH. Founded in 1979 and based in Espoo, the company claims to have installations on “tens of thousands of ships”. EBITDA for the current year is expected to be around €47 million.
Altor Equity Partners from Sweden is invested in over 100 companies via funds – primarily in medium-sized companies in the Nordic countries and the DACH region. Current and former investments include Silo AI, Mandatum, Piab, Wrist Ship Supply and Aalborg Industries.
Under Bridgepoint’s leadership, the Finns made six acquisitions and significantly expanded their aftermarket capacities. Aftermarket and services now account for over two thirds of total sales. CEO Björn Ullbro commented on the change of ownership: “This transaction marks the beginning of an exciting new chapter for Evac and we look forward to working with Altor.” The demand for sustainable solutions offers Evac an “exceptional opportunity” to scale its offering.
Patrick Fox, Senior Partner, and Christopher Bley, Partner and Co-Head of Nordics at Bridgepoint, said: “During our investment, Evac has grown into a global market leader with a differentiated portfolio and a highly resilient aftermarket business. Our targeted M&A program has expanded capabilities in core niches, strengthened Evac’s global footprint and created significant commercial synergies within the group. We are proud of the progress made with the management team and are confident that the business is well positioned for its next phase of growth.”
This is Bridgepoint’s fourth exit from an investment in the last two years, following the sale of Diaverum in 2023 and the partial sale of shares in Vitamin Well and Oris Dental in 2024. The latest transaction is expected to close in 2026, subject to customary regulatory approvals. Financial details were not disclosed.
