Framheim Capital Partners was founded by Patrik Egeland and Fredrik Ekholm. Since 2022 we have built and improved infrastructure-services companies together, and sold one of them. We now invest as an independent firm and take majority positions alongside founders in Norway, Sweden and Finland.
Before Framheim we worked together for three years at ININ Group, a listed owner of Nordic infrastructure-services companies. Three examples from those years show the kind of work we do.
In rail, we combined specialist contractors in track, signalling, power supply and groundwork into one group that could bid for work none of them could win alone. Revenue grew more than fivefold in three years, roughly half of it from the companies’ own growth. The group was sold to an industrial owner in 2026.
In power-grid services, we bought a loss-making contractor that few others bid for, and ran the programme that followed. It covered supplier terms, invoicing, which projects to bid for, project management and incentives tied to results. Within two years the company went from a clear loss to a healthy margin. We cut revenue on purpose to get there, by dropping low-margin project work.
In testing and inspection, we started a new company together with two industry veterans, to challenge the large international groups that dominate the Nordic market. In under three years it grew from nothing to well over a hundred employees at offices across Sweden and Norway, most of them opened from scratch. We sat on its board from the first day.
We buy privately owned service companies whose work needs certified people and accredited processes. They typically have EUR 5m to 50m in revenue. Examples are companies whose field teams work on power grids, rail, water and wastewater systems, defence sites or industrial plants.
Most companies of this size in Norway, Sweden and Finland are still owned by their founders or the founding family. When they are sold, the buyer is often a foreign group or a listed acquirer.
We offer another route. You sell a majority, reinvest alongside us and keep running the company. We bring capital for acquisitions and a board that works with you on financial control, pricing and recruitment. When the company is sold again some years later, you sell your remaining share in a larger business.
We met at ININ Group in 2022 and worked there together until 2025. We founded Framheim that November to continue the same work with committed, long-term capital.
The firm is named after Roald Amundsen’s base on the Ross Ice Shelf, where the 1911 South Pole expedition was planned through the winter before anyone set out.
Patrik Egeland and Fredrik Ekholm, Oslo
Patrik has worked in private equity since 2004, first at Herkules Capital and then as a founding partner of Capillar Equity. He was Head of Investments at ININ Group before co-founding Framheim.
Fredrik started as a transaction adviser at EY-Parthenon, then spent five years in the rail industry at VR Track and NRC Group. He was Investment Director at ININ Group before co-founding Framheim.