• Transaction strengthens Evac’s role in mission-critical water and waste systems across naval, cruise and commercial fleets
• Altor deploys capital from its EUR 1.1 billion climate fund, targeting decarbonization and circularity
• Deal positions Evac for expanded innovation, new segments and future M&A activity

Nordic Deal Puts Cleantech Systems at the Center of Maritime Sustainability

Private equity group Altor has agreed to acquire a majority stake in Evac Holding Oy, a Finnish cleantech provider whose systems manage water, waste and vessel protection across some of the world’s most demanding marine and offshore environments. The sale, announced this week, transfers ownership from Bridgepoint, which exits after several years of expansion under its watch. Evac’s management will reinvest alongside Altor.

For a sector under rising pressure to manage emissions, waste output and resource efficiency, the deal brings a fresh wave of capital into a company that sits at the operational core of modern naval and commercial fleets. Evac’s products, which range from vacuum collection systems to advanced water treatment and corrosion protection, are integrated into vessels from cruise liners and naval ships to offshore installations.

A Forty-Year Cleantech Specialist with Global Reach

Founded in 1979, Evac has grown from a Nordic engineering firm into a platform that serves more than 70 countries. Its 550 employees support a global customer base that spans cruise operators, merchant fleets, naval programs, yacht owners and land-based industries requiring water and waste solutions. The company is headquartered in Espoo and maintains one of the most extensive service networks in its field.

Evac’s systems carry strategic importance within the maritime economy. Naval forces rely on secure, closed-loop waste systems, while commercial fleets face tightening regulation related to pollution control. Cruise operators, driven by public scrutiny and investor expectations, increasingly integrate cleantech infrastructure as part of long-term sustainability planning. That convergence of regulatory, reputational and operational pressures has elevated demand for integrated, proven technologies.

Management Sees Altor as a Catalyst for Innovation and Expansion

CEO Björn Ullbro said the partnership with Altor comes at a pivotal moment in the company’s evolution. “We are pleased to welcome Altor as our new partner, we are confident that we will benefit from their strong track record of supporting industrial businesses. Evac is driven by a strong focus on innovation, and we strive to pioneer the technology and sustainability transformation of our industry. As we embark on our next chapter, we want to thank Bridgepoint for their support. We are well-positioned and ready to keep on building on our leading position with Altor on board,” Ullbro said.

The company has broadened its product suite in recent years, moving further into systems that help customers meet stricter environmental regulation. Altor’s industrial heritage is expected to accelerate that trajectory. The firm has built substantial experience in marine and industrial platforms, having backed Aalborg Industries, Navico and Wrist Ship Supply.

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Altor Plans Growth Through Innovation and Selective M&A

Altor Partner Bengt Maunsbach highlighted the company’s resilience and technical edge as key drivers of the acquisition. “From our very first encounter, we have been highly impressed by Björn and the entire management team at Evac. It is rare to come across a company like Evac with excellence and strong performance in its products and segments. Björn and the team have built a strong company fit for the future with innovation at the core of their success. As we move forward together, we look forward to supporting the team in driving growth from continued product innovation and M&A,” he said.

The investment is being made through Altor Fund VI and Altor ACT I, the firm’s EUR 1.1 billion climate companion fund. ACT I targets companies that advance decarbonization, resource efficiency and circularity. The tie-in reflects the growing strategic role of environmental infrastructure solutions in private markets, where climate-aligned investments have become a defining theme for institutional investors.

What the Deal Means for the Maritime and Industrial Cleantech Market

The maritime sector faces escalating regulatory demands, including wastewater discharge rules, ballast water requirements, onboard waste management obligations and corrosion prevention standards. As shipowners incorporate these systems into fleet renewal strategies, specialist suppliers such as Evac stand to benefit from multi-year investment cycles.

For investors, the deal underscores the rising value of firms positioned at the operational intersection of compliance, sustainability and engineering reliability. Integrated service networks offer recurring revenue, while evolving regulations create long-term visibility for system upgrades and retrofits.

Altor’s climate fund brings additional weight. The firm’s investment mandate aligns with a broader market shift toward environmental infrastructure as a core asset class, linking operational decarbonization with private equity scale. With Evac, that approach extends into a maritime segment navigating both climate-driven scrutiny and complex technical requirements.

Global Relevance

With more than 90 percent of world trade moving by sea, the environmental impact of maritime operations has climbed sharply up policy agendas. Deals that bring targeted climate capital into essential marine systems are increasingly relevant beyond the Nordic region. For global C-suite leaders and investors, the acquisition reflects a wider pattern: sustainability demands are driving consolidation, innovation and new capital flows across the industrial cleantech landscape.

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