About Litorina.

We have been a partner to entrepreneurs and management teams since 1998.

This is Litorina.

Our vision is to be the preferred partner to Nordic management teams that want to take their companies to full potential. This will help us to fulfil our mission – to invest in and build sustainable companies that enables us to generate attractive returns.

Litorina invests in niche market leading companies with headquarters in the Nordics. We partner with management teams and entrepreneurs that want our support to take the next step in their development.

Our team has more than 100 years of combined experience from investing in and supporting growth initiatives in leading Nordic companies. We are an active owner with a clear framework of how we support our companies.

We are passionate about what we do. Together with the companies we invest in, we set high goals and ambitions. By contributing capital for expansion, relevant experience, a network of knowledgeable advisors and our passion, we aim to double the size of the companies we invest in within a four to seven year period.

Litorina’s investors are long-term international institutional investors that directly or indirectly primarily manage pension savings for Nordic, European, Asian and US workers.


years combined team experience from investments


when it all started for Litorina


team members at Litorina

SEK 3bn

in latest fund


portfolio company investments since 1998


portfolio companies currently

SEK ~5bn

in total sales


employees in the portfolio companies

What we look for.

We invest in profitable companies with a healthy business model where we can support further growth initiatives. Based on this, we select companies where we can add value and contribute with relevant experience. This means we are looking for:

  • Niche market leading companies with headquarters in the Nordics
  • Well managed and profitable companies with a clear value creation agenda
  • Companies with EUR 10-100m in sales
  • Companies that want our support to drive a growth-focused business agenda

Investment strategy:

  • Focus on business services and consumer sectors
  • Aim to double the size of the companies we invest in within four to seven years
  • Create value through consolidation of fragmented markets, rolling out successful concepts in new markets and international expansion

How we add value
– The Litorina playbook.

Over the years, we have developed a clear model for how we add value to our companies. This is centered around the different phases in the investment life cycle.

At entry – set strategic direction and focus on key value drivers.

  • We ensure we have alignment with the management team and entrepreneurs regarding the strategic direction and key value drivers
  • Geographic expansion is often a key value driver, within the Nordic region and sometimes also globally
  • We support our companies working with buy-and-build, roll-out and acquisition-driven value creation
  • We help drive value creation through digitalization, increased online competence and e-commerce excellence
  • Operational excellence, realizing best practises and synergies are often important tools to drive value creation

Setting the structure.

  • The first 12 to 18 months of an investment, we focus on introducing our governance model where we separate and establish the different roles of the owners, board and management
  • Together with our partners we appoint a board with an external chairman and one to three additional advisors who can support the management team in specific areas of expertise
  • We work with the team to set a suitable management structure and identify recruitment needs to have the right resources in place and work towards the agreed strategic direction
  • Set a financial reporting framework with good financial and operational key performance indicators

Setting the plan.

  • Once we have the right resources and team in place, the board, together with the management team, set a joint business plan for the next three to five years
  • We create a business plan that focuses on a limited number of key value drivers and activities needed to reach our goals
  • We set a framework for continuous monitoring of the plan with yearly strategic reviews


  • Litorina works through the board. We usually have six ordinary board meetings per year where different themes and topics are discussed
  • Between the board meetings, there is a close dialogue between the CEO, chairman and Litorina in so called troika meetings
  • At the request of management, the board and Litorina support the team in specific projects and initiatives

Litorina advisor network.

Litorina works together with a network of more than 50 advisors who are current or former business executives or entrepreneurs with international experience, mainly within our core business services and consumer sectors. These advisors help support Litorina when selecting and evaluating our new investments as well as through active board roles in our portfolio companies.

Below, we present a selection of our current advisors – people who currently work together with Litorina in the boards of our portfolio companies.

Anders Cleemann
Board member of NN07
Experience within consumer brands and retail. Former Board member of IC Group and CEO of Peak Performance, currently CEO of Muuto.

Anders Ehrling
Board member of Brödernas
International experience from the consumer services industry. Former CEO of Scandinavian Airlines, Scandic Hotels and BRA as well as several board assignments such as Nordic Cinema Group (Chairman),  Keolis (Chairman), Helsa (Chairman), Park and Resorts, Coor and Systembolaget.

Andreas Andersen
Board member of Leo´s Lekland
International experience from the consumer service industry with a focus on entertainment and amusement parks. Current CEO of Liseberg and former Executive Board member of International Association of Amusement Parks and Attractions as well as Vice President of TIVOLI.

Andreas Göthberg
Chairman of Physical Medicine Group
Nordic experience from consumer health services as former CEO of SATS, Memira, OneMed and Akademikliniken.

Anna Spjuth
Board member of Northclean
Experience within the hotel services sector. Currently CCO of Scandic Hotels Group, former experience from positions at Yasuragi and Nordic Choice Hotels.

Anna Widmark
Board member of Digpro
Experience within IT and consulting services. Current department manager WSP and former CEO of Kontigo.

Christer Norrman
Board member of Implema
International experience within IT and management consulting services. Former CEO of Acando Sweden.

Christina Ericsson
Board member of Care of Carl
Experience within digital operations, including digital transformation of companies offering consumer products and services. Former head of SAS digital sales and responsible for Apotek Hjärtat’s e-commerce, currently CEO of Youty Group consisting of Nordicfeel, Blush, and Eleven.

Fabian Månsson
Chairman of NN07 and Care of Carl
International experience within consumer, retail and fashion. Former CEO of H&M, Eddie Bauer as well as several board roles and interim assignments in the industry.

Göran Näsholm
Chairman of SellPower
Long-standing experience from the distributor position in the value chain. Former CEO of Ahlsell for +15 years and several recent board positions including Alligo, Nordisk Bergteknik and Pegroco Invest. Göran has also served as Chairman for Litorina’s previous investment Fresks.

Hans Davidson
Board member of NN07
International experience within consumer, retail and fashion as former CEO of Eton.

Jan-Olof Backman
Chairman of Northclean and Layer Group
Experience within the facility services industry as co-founder of Coor Service Management. Currently engaged in the board of Credentia and Tagehus.

Johan Berg
Chairman of Digpro
International software experience from complex software industries such as the ERP sector. Former Executive VP of Intentia, former CEO of IBS and board experience from Fortnox, Aditro and Itello.

Lars Wollung
Chairman of Implema
International experience from CEO positions at Intrum Justitia, Acando and experience from boards within the finance and IT sectors.

Lena Hofsberger
Chairman of Leo´s Lekland
International experience from the consumer industry with a focus on restaurant operations and services. Former CEO of SSP and Aleris as well as several board assignments such as Max, Ambea (Chairman) and Löfbergs.

Ludvig Friberger
Board member of Care of Carl
International online experience. Founder and former CEO of RugVista with focus on online marketing and IT capabilities.

Per-Ingemar Persson
Board member of SKT
Operative and board experience from construction, real estate and installation industries. Has previously held CEO positions within Skanska, Veidekke and NVS.

Per Leopoldsson
Board member of Layer Group
Operative and board experience from real estate services. Former CFO of Bravida and several recent board positions including Instalco, SBC and NAI Svefa.

Raymond Mankowitz
Board member of Sushi Yama
Experience from a long career with the McDonald’s Corporation in various roles with focus on operations, HR, marketing and communications. Currently engaged in the board of several profit and non-profit organisations.

Sven Mattsson
Chairman of Sushi Yama
International experience from the consumer services industry. Former CEO of Oriflame and several recent board positions including Joe & the Juice, O’Learys, Akademikliniken and Mediaplanet.

Tord Dyrssen
Board member of Care of Carl
International consumer and fashion experience. Former President of Wholesale business for EMEA for Ralph Lauren. Board experience includes consumer companies such as the Rug Company and Svenskt Tenn.

Victor Press
Board member of Northclean
Experience from several sectors such as marketing, communication, e-commerce and facility services. Co-founder of ACNE Advertising and Tretti.se.