Altor promotes two new partners
Altor has since its inception in 2003 developed a strong track record from investing in and developing mid-sized companies from its Nordic offices. Many of these investments have opened new opportunities and interest from European businesses in similar industries. As a consequence, Altor’s presence in Europe has gradually increased. Hugo Maurstad has been based in Zürich since 2013, and Altor now expands the presence through the recruitment of Giovanna Maag as Partner. Giovanna started her career at Morgan Stanley in 2004, moved to McKinsey in 2007 and has worked for 3i, based in Frankfurt, since 2008. Further, the previously Stockholm-based Partner Klas Johansson will transfer to the same office to lead investment activities and to ensure a strong integration with the rest of the group. The Zurich office will support Altor’s all investments in the DACH area.
Focus on value creation in the portfolio companies is a cornerstone of Altor’s strategy and culture. Altor has now been able to attract Paal Weberg to join the company as Partner and strengthen the efforts within value creation as well as support our investment activities, especially with the expansion into the DACH-region. Paal is currently Senior Partner of McKinsey, where he during the last 28 years has held a number of the most senior leadership positions, such as Chairman Global Client Council, Managing Partner Global Industry Practices, Managing Partner Global Financial Institutions and Managing Partner for McKinsey Scandinavia. Paal also has an extensive network in Scandinavia, DACH and globally that can help support our investment activities. Prior to McKinsey, he was a financial manager with the Kvaerner Group in Norway.
“The formalized and expanded Zürich-office and an increased structure in the value creation-work are very important next steps on our continuous journey.” Harald Mix, founder of Altor says. “I am extremely proud that we have been able to attract Giovanna and Paal to Altor and look forward to working closely with them for years to come.”
Since inception, the family of Altor funds has raised some EUR 5.8 billion in total commitments. The funds have invested in excess of EUR 4.2 billion in more than 40 companies. The investments have been made in medium sized, predominantly Nordic, companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Ålö, ByggMax, Carnegie Investment Bank, Dustin, Helly Hansen, Lindorff and SATS ELIXIA. For more information visit altor.com.