Celero Capital forms Atherion with support from Livingstone Partners

Livingstone Partners has advised Celero Capital AB on the formation of Atherion AB, a new corporate group bringing together six companies active in the Nordic power sector. The platform comprises AG Entreprenad, ELB Kraft, Eltec Köping, KraftTech Sweden, Selectric Sweden, and SLL Energi & Infrastructure.

Atherion will provide a broad range of services to network operators, renewable energy producers, and industrial clients, covering the full spectrum from planning and construction to installation, maintenance, and inspection. The combined group generates annual revenues exceeding SEK 800 million on a pro forma basis.

Each company involved will continue to operate under its existing brand, maintaining its workforce and customer relationships. Founding contractors have retained a financial interest in Atherion through reinvestment.

The group aims to expand its market presence both organically and through acquisitions. Celero Capital sees Atherion as a starting point for building a strong position in the Nordic energy infrastructure sector by leveraging the operational expertise of its constituent businesses.

Livingstone Partners supported Celero Capital throughout the process, including engaging with company owners and structuring the transaction. Celero Capital, founded in 2022, is a private equity firm focused on majority investments in niche businesses across the Nordic region.