Hartwall Capital

Hartwall Capital

Hartwall Capital traces its origins to Oy Hartwall Ab, the beverage company founded in 1836. The family sold those shares in 2008 and redeployed the capital into an investment company that now holds a diversified book of Nordic industrial and service assets. The firm executes control investments in non-listed and listed companies, allocating €25-75 million equity per strategic position. Asset classes include private equity, public equities and liquid fixed income. Portfolio holdings comprise Linkity, Secto, Vastuu Group, Kährs, LeaseGreen, Remeo, Duell and Terveystalo. The investment mandate requires companies with healthy core operations, positive cash flow and established business models. Geographic reach centers on Finland and Sweden while the financial portfolio extends to Western Europe and North America. The team includes Chief Investment Officers Alexander Tallberg and Axel Lindholm plus Investment Director Noora Haraholma. December 2025: Appointed Noora Haraholma as Investment Director. Additional vehicles include August Ludvig Hartwall's Foundation. The firm participates in the Finnish Family Business Network and the Finnish Venture Capital Association. No second office locations are disclosed. Hartwall Capital operates as a long-term owner that executes transformative programs such as operational improvements, consolidation and public-to-private transactions. Governance rests with a board that includes multiple Hartwall family members alongside external directors, preserving family oversight while drawing on outside expertise for value creation.