Celero Capital establishes Aterion with six entrepreneur-led companies

Celero Capital partners with six entrepreneur-led companies to establish Aterion with a clear ambition to become a leading player in the power industry in the Nordics. The group has a broad service offering to grid owners, renewable energy operators and industrial companies.

At inception, Aterion consists of AG Entreprenad, ELB Kraft, Eltec Köping, KraftTech Sverige, Selectric Sverige and SLL Energi & Infrastruktur - all of which have a track record of successful project deliveries and satisfied customers. Aterion´s comprehensive service offering includes design, planning, construction, installation and maintenance, as well as measurement and inspection for power grid owners, renewable energy operators and industrial companies.

On a proforma basis the group generates annual revenues of more than SEK 800 million. Aterion expects strong continued growth both organically and through further acquisitions.

The market for power infrastructure services is fragmented and showing strong underlying growth supported by a combination of aging power infrastructure, increased energy consumption including from electrification and AI, along with a shift toward renewable energy production. The establishment of Aterion serves as a first step in building a leading group, combining six entrepreneur-led specialist companies each well-regarded in its niche, to provide a comprehensive solution covering the entire value chain of power generation and distribution. As part of Aterion, the operating companies will strengthen their procurement positions, benefit from collaboration across the group, and enable project opportunities with a broader customer universe.

The six companies will continue to operate as before, retaining their brand names, employees and customer relationships, ensuring uninterrupted service and project delivery to all our customers. The entrepreneurs have reinvested a significant stake in Aterion.

Jonas Waerner, CEO of SLL Energi & Infrastruktur and Board Member of Aterion commented: "With Aterion, we are bringing together like-minded entrepreneurs to build something even stronger. What unites all founders and exceptional employees is a shared commitment to quality, safety and customer satisfaction. With Celero Capital as a strategic partner, we combine financial strength and industry expertise to expand our operations, helping our customers accelerate the energy transition and secure a sustainable electricity supply."

Johnny Wallerman, CEO of Selectric Sverige and Board Member of Aterion added: ”At Aterion, we are building the energy systems of tomorrow through collaboration and innovation. For Selectric, this means we can focus on what we do best – delivering high-quality and smart electrical solutions. By working closely with our sister companies, we can provide our customers with even better solutions, increased efficiency, and long-term sustainability. Together, we are not just developing technology for the future – we are shaping, stronger and more sustainable energy systems.”

Kenneth Haavet, partner at Celero Capital said: ”We are impressed by the high quality and exceptional customer feedback for each of the six platform companies. We are thrilled to partner with the entrepreneurs and their organization to launch Aterion and build a challenger in the Nordic power industry.”

Aterion is Celero Capital’s most recent primary buy-and-build initiative, establishing the platform from the ground-up through partnerships with entrepreneur-led firms.

Celero Capital has been advised by Livingstone Partners, Hansen, Roland Berger and Deloitte.

For more information, please contact Kenneth Haavet, partner at Celero Capital at kh@celerocapital.com or +47 993 03 339.