Ratos

Ratos AB is a Swedish investment company whose name combines those of brothers Ragnar and Torsten Söderberg. The company grew out of the Söderberg family's business interests and was established in the early 1930s before becoming publicly listed in 1954. Rather than operating primarily as a producer or consumer-facing product brand, Ratos functions as an investment and ownership platform. It builds, develops, and realizes value in a portfolio of Nordic companies through active ownership, strategic support, capital allocation, and, where appropriate, acquisitions or divestments. The company's historical portfolio has covered a broad range of sectors. In its earlier development, Ratos held interests in major industrial companies including Stora Kopparberg, Gränges, and Esselte, while also owning a steel division. The sale of that steel division, then known as Tibnor, to state-owned SSAB in 1979 formed an important transition point. Afterward, Ratos expanded into businesses such as transport, hotels, and plumbing distribution, including interests associated with Scandic Hotels and Dahl International. This history gave the group a diversified investment profile, although its portfolio composition and strategic emphasis have changed repeatedly over time. Ratos describes its current approach as a return to long-term investment-company ownership, combining majority and minority holdings. Its sector-neutral model has a primary emphasis on Nordic industrial and infrastructure companies, with a focus on standalone businesses where active ownership can support profitable and capital-efficient growth. The investment scope has also broadened beyond unlisted, majority-controlled businesses to include unlisted minority holdings and minority positions in listed companies. The portfolio includes companies involved in advanced structural materials, retail-store solutions, professional services, infrastructure maintenance, information lifecycle management, optical components for LED lighting, logistics, clinical research services, energy-sector engineering, construction, vehicle trading, outdoor equipment, and garden retail. Examples of majority-owned or controlled holdings include Diab Group, HL Display, Knightec Group, Presis Infra, Aleido, LEDiL, TFS HealthScience, Kvd Group, OASE Outdoors, and Plantasjen. Ratos also reports minority or developing holdings such as Aibel, Sentia, and Speed Group, with ownership percentages varying by company and over time. Ratos's stated strategy for 2026–2028 is intended to create a more focused investment company, support organic development and add-on acquisitions, improve operating methods, and maximize long-term shareholder value. The company reported net sales of approximately SEK 19 billion and adjusted EBITA of approximately SEK 1.9 billion for 2025, together with around 9,100 employees across the group and its portfolio businesses. These figures describe the wider group and portfolio context rather than a conventional consumer-brand sales model.

Ratos traces its origins to the Söderberg family's expanding business interests in the early 1930s. Ragnar and Torsten Söderberg established the company as a holding structure for the family's enterprises, which at the time included ownership of Söderberg & Haak. The name Ratos is a portmanteau formed from the brothers' first names. The company is generally dated to 1934, although accounts of its origins also describe the holding structure as having been established in 1933. During its early decades, Ratos developed extensive industrial ownership. Its interests included stakes in Stora Kopparberg, Gränges, and Esselte, as well as a wholly owned steel division. The group became a publicly traded company in 1954, establishing the listed investment-company structure that remains central to its identity. A significant strategic change came in 1979, when the steel division, then called Tibnor, was sold to state-owned SSAB as part of the restructuring of Sweden's crisis-hit steel industry. Following the disposal, Ratos expanded into a wider selection of industries rather than remaining centered on steel. Its investments included transportation businesses, the Scandic Hotels chain, and the plumbing-distribution company Dahl International. During this period Sven Söderberg served as president and chief executive officer. Over subsequent decades, Ratos continued to adjust its portfolio through acquisitions, development investments, and exits. Its activities increasingly emphasized ownership of operating companies and the use of active ownership to improve performance. The portfolio has included businesses from industrial manufacturing, infrastructure, services, logistics, consumer goods, and retail, producing a diversified but changing collection of holdings. In 2019, Ratos sold the Adelswärdska house on Drottninggatan in Stockholm to the National Property Board of Sweden. The property had been acquired by Söderberg & Haak in 1938 and later became associated with Ratos. The stated reason for the sale was the increasingly restrictive security environment around the building, which lies between the Sagerska Palace, the residence of Sweden's prime minister, and Rosenbad, the government-office complex. Ratos's current strategy presents the company as a long-term Nordic investment owner with both majority and minority investments. The company has emphasized industrial and infrastructure sectors while retaining a sector-neutral framework. Its broadened investment scope includes unlisted minority holdings and minority positions in listed companies, in addition to unlisted majority-owned businesses. For 2026–2028, Ratos has described plans to create a more focused portfolio, promote profitable and capital-efficient growth, support organic development and add-on acquisitions, and strengthen its ownership and operating practices.

• 2026

  New strategy period begins

  [1]Ratosen.wikipedia.org

  Ratos begins a stated 2026–2028 strategy focused on a more concentrated portfolio, active ownership, profitable growth, and a broader majority-and-minority investment mandate.

• 2019

  Adelswärdska house is sold

  [1]Ratosen.wikipedia.org

  Ratos sells the Stockholm property to Sweden's National Property Board because of the increasingly restrictive security environment around nearby government buildings.

• 1979

  Steel division Tibnor is sold to SSAB

  [1]Ratosen.wikipedia.org

  Ratos sells its steel division, Tibnor, to state-owned SSAB during the restructuring of Sweden's steel industry.

• 1954

  Ratos is listed

  [1]Ratosen.wikipedia.org

  The company becomes listed on the Stockholm Stock Exchange.

• 1934

  Ratos is founded

  [1]Ratosen.wikipedia.org

  Ratos is generally dated to 1934 and takes its name from Ragnar and Torsten Söderberg.

• 1933

  Söderberg family establishes the holding structure

  [1]Ratosen.wikipedia.org

  The Söderberg brothers established a holding structure for the family's growing business interests, the origin described for Ratos.

A long-term Nordic investment company using active ownership, focused capital allocation, and portfolio-company development to create shareholder value.

• Advanced structural materials

  Diab Group

  Diab Group develops and manufactures structural core materials and related solutions used to make high-performance products lighter and more sustainable. Its applications span demanding industrial sectors. Ratos identifies Diab as a majority-owned platform company.

• Retail-store solutions

  HL Display

  HL Display supplies solutions intended to make stores and branded retail environments more attractive, efficient, and sustainable. Its offering supports merchandising and the presentation of products in physical retail settings. Ratos identifies HL Display as a majority-owned platform company.

• Professional services and technology

  Knightec Group

  Knightec Group is a Nordic professional-services business combining business strategy with technology development. It helps clients address complex organizational, product, and technology challenges. Ratos identifies it as a majority-owned platform company.

• Infrastructure maintenance

  Presis Infra

  Presis Infra provides maintenance and related services for critical transport infrastructure in Norway and Sweden. Its work supports the safety, availability, and reliability of important road and transport networks. Ratos identifies it as a majority-owned platform company.

• Information lifecycle solutions

  Aleido

  Aleido provides information lifecycle solutions designed to connect technology, products, and the people who use or maintain them. Its services address the creation, management, and delivery of technical and operational information. Ratos identifies Aleido as a company being developed within the portfolio.

• LED lighting optics

  LEDiL

  LEDiL develops secondary optics for LED lighting applications. Its products are used in settings including street lighting, retail, and offices, where optical design helps direct and distribute light. Ratos identifies LEDiL as a company being developed within the portfolio.

• Third-party logistics

  Speed Group

  Speed Group provides third-party logistics services in the Nordic region. The business is described as one of the region's leading logistics providers and is included among Ratos's holdings being developed.

• Contract research services

  TFS HealthScience

  TFS HealthScience is a contract research organization that works with biotechnology and pharmaceutical companies on clinical-trial programs and other development activities. Ratos identifies it as a wholly owned company being developed within the portfolio.

• Energy engineering and infrastructure services

  Aibel

  Aibel provides engineering, procurement, construction, and installation services for energy infrastructure. Its activities include designing, building, and maintaining platforms and other critical energy-sector assets. Ratos identifies Aibel as a minority holding.

• Construction

  Sentia

  Sentia is a Nordic listed construction group with leading positions in selected markets. Ratos identifies Sentia as a minority holding.

• Vehicle marketplace

  Kvd Group

  Kvd Group operates a Swedish trading platform for vehicles. Its proposition combines transaction services, expert knowledge, and a structured marketplace intended to make vehicle buying and selling more secure and convenient. Ratos identifies Kvd Group as a wholly owned consumer-oriented holding.

• Outdoor equipment

  OASE Outdoors

  OASE Outdoors supplies camping and outdoor equipment and is described as an innovative Nordic supplier in the category. Ratos identifies it as a majority-owned consumer-goods holding.

• Garden retail

  Plantasjen

  Plantasjen operates garden centres in the Nordic region, offering living plants and products for indoor gardening and outdoor living. Its positioning is associated with helping consumers create greener home and garden environments. Ratos identifies Plantasjen as a wholly owned holding.

• 2026

  Implementation of a focused long-term investment strategyStrategy

  Background

  Ratos stated that it was returning to a long-term investment-company model combining majority and minority ownership in Nordic businesses.

  Action taken

  The company set a 2026–2028 strategy aimed at concentrating the portfolio, driving profitable and capital-efficient growth, supporting organic development and add-on acquisitions, and strengthening its ownership practices.

  Aftermath

  The strategy broadens the investment scope beyond unlisted majority-owned companies to include unlisted minority holdings and minority positions in listed companies.

  Source

• 2019

  Sale of the Adelswärdska houseOther

  Background

  The property stood between important Swedish government locations and was affected by increasingly strict security requirements.

  Action taken

  Ratos sold the Adelswärdska house on Drottninggatan in Stockholm to Sweden's National Property Board.

  Aftermath

  The sale removed the property from Ratos's holdings; the stated rationale was the changing security environment rather than a reported operating portfolio transaction.

  Source

• 1979

  Divestment of Tibnor to SSABM&A

  Background

  Ratos's steel division operated during a period of crisis and restructuring in the Swedish steel industry.

  Action taken

  Ratos sold the division, then known as Tibnor, to state-owned SSAB.

  Aftermath

  The transaction marked a shift away from steel-centered ownership and was followed by expansion into transport, hotels, plumbing distribution, and other sectors.

  Source

• 2026

  Ratos outlines a more focused long-term investment strategy for 2026–2028[1]Ratosen.wikipedia.org

  Other

  The company described a strategy centered on profitable and capital-efficient growth, active ownership, organic development, add-on acquisitions, and a broader mandate covering both majority and minority holdings.

• 2025

  Ratos reports 2025 sales and adjusted EBITA[1]Ratosen.wikipedia.org

  Other

  Ratos reported net sales of approximately SEK 19 billion and adjusted EBITA of approximately SEK 1.9 billion for 2025, with around 9,100 employees in the group and portfolio context.

• 2019

  Ratos sells the Adelswärdska house in Stockholm[1]Ratosen.wikipedia.org

  Other

  Ratos sold the Adelswärdska house on Drottninggatan to Sweden's National Property Board. The transaction was linked to increasing security requirements around nearby government buildings.

1. 1Ratosen.wikipedia.org