Livingstone advises Celero Capital on the formation of Aterion

Livingstone Partners has acted as financial advisor to Celero Capital AB (“Celero”) in connection with the formation of Aterion AB (“Aterion”) – a platform of six entrepreneur-led companies with a clear ambition to become a leading player in the Nordic power industry. The group offers a broad range of services 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 with a long 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 grid owners, renewable energy operators, and industrial clients.

On a pro forma basis, the group generates annual revenues of nearly $80 million. Aterion expects strong continued growth, both organically and through further acquisitions.

Establishing Aterion is a first step in building a leading group by combining six entrepreneur-led specialist companies – all highly regarded in their respective niches – to offer an end-to-end solution across the entire value chain of power generation and distribution. As part of Aterion, the companies will strengthen their procurement positions, benefit from collaboration across the group, and unlock project opportunities with a broader customer base.

The companies will continue to operate as before, maintaining their brands, employees, and customer relationships, while ensuring uninterrupted service and project delivery. The entrepreneurs have reinvested a significant stake in Aterion.

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

“Aterion is a strong player from day one, and all the conditions are in place to quickly reach a market-leading position by combining the drive of the entrepreneurs with Celero’s ability to create structure within a larger – yet still decentralized – group,” added Tomas Lind, Director at Livingstone.

“Livingstone, with Tomas and Henrik, has shown an impressive ability to build strong relationships with entrepreneurs in the industry, which has been key to rapidly launching the platform and scaling up Aterion,” commented Kenneth Haavet, Partner at Celero.

Celero Capital was founded in 2022 and is an independent private equity firm focused on majority investments in high-quality, niche market leaders in the Nordic lower mid-market segment.