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We are a foundation-owned home for leading companies

We are a force for achieving the best potential in the companies we invest in. We want to be a long-term partner for founders, entrepreneurs and corporate management teams.

Business concept

Nordstjernan was founded by the Ax:son Johnson family in 1890. For more than 130 years, we have owned and developed competitive companies that have created prosperity and contributed to a better society. Today, Nordstjernan is an active owner that is involved in the long-term development of companies in sectors with growth potential and where we can add value. Overall, Nordstjernan’s holdings generate sales of some SEK 120 billion and have more than 50,000 employees.

It is our conviction that a combination of creativity and activity is a fundamental requirement for long-term value creation. Our responsibility as an owner is to pair the right creativity with the right activity. We drive, support and invest in renewal and innovation to ensure that our companies develop successfully over time. Together with our network, we create the best prospects for our companies to achieve their best potential.

Core values

Nordstjernan is an owner with a 130-year industrial tradition. Our corporate culture has always been created at the point of convergence between changes in the business environment and our own experiences. With a public benefit foundation formed by the Ax:son Johnson family as our largest owner, we participate in something that endures over time.

Nordstjernan’s core values guide us in our operations – and reflect what our environment can expect of us as an employer, partner and investor.

  • Long term impatient – As an owner, we take a long-term view, act responsibly and maintain a high level of business ethics. We are driven to identify new businesses and are motivated by continuously seeking to challenge through initiatives and innovation. That is how we bring out the best in our companies and employees.
  • Together – As a workplace, we create value by having motivated individuals with many complementary perspectives. We want to be a learning company, where everybody’s efforts are incentivized in a joint team effort. This is how we develop the most competent, professional organization.
  • Opportunity-focused – As an operation, we are continuously confronted with challenges, risks and active choices. We want to be characterized by a propensity for change and curiosity in this environment of opportunities. That is how we seek out good businesses and greater success in an increasingly intense competitive environment.
  • Simplicity – As an organization, we strive for simplicity by avoiding detours and unnecessary complexity. We want to provide freedom and individually delegated responsibility to ensure more effective capacity for action. That is how we increase the level of involvement and impact in the company.

Responsible enterprise

We believe in entrepreneurship as a positive force in society and want to combine profitability with greater public benefit. We are inspired by using the strength found in enterprise to identify solutions for customer needs and help tackle major problems in society. As an owner, Nordstjernan takes a long-term view, acts responsibly and maintains a high level of business ethics. 

Responsible enterprise and business ethics

In our role as owner, our duty is to ensure good governance of our portfolio companies and that we and our portfolio companies always act with high business ethics. We support, protect and respect human freedoms and rights and are committed to a free business life with strong property rights and the right to equal treatment. Responsible enterprise means that we always follow the laws and regulations in the markets we and our portfolio companies operate in. It also means that we as owners, through active board work, have the task of guiding our portfolio companies in matters concerning the environment, social sustainability and governance, within which they have a major impact or risk.

Climate and resource efficiency

In our role as owner, Nordstjernan has the greatest impact on the climate and nature through our portfolio companies. To reduce our impact, we are therefore active in supporting our portfolio companies in developing, setting and implementing ambitious climate goals. We drive continuous improvements in our own and our holdings' operations and businesses to reduce our climate impact. By encouraging resource-efficient activities, the burden on the climate and nature is reduced while being economically profitable.

The individual’s ability and development

At Nordstjernan, we have always emphasized and prioritized the freedom and rights of the individual in society. We work actively to prevent discrimination regardless of gender, nationality or age through a meritocratic evaluation. Our basis is decentralized decision-making with great freedom for individuals, boards and management and we believe in increased value creation through the individual's ability to learn and develop

Read more about responsible enterprise

Through value plans and company boards

Nordstjernan pursues responsible enterprise on each of the boards we participate in. We list initiatives in our companies’ value plans that we want to see implemented and develop indicators to monitor these. We believe in innovation and technical progress in our companies as fundamental drivers for ensuring that production and consumption can be more resource-efficient.

In the case of new investments, one condition is that the company in question must be able to conduct responsible enterprise in line with our approach.

Additional profits for public benefit

Nordstjernan’s profits contribute to public benefit through the support for research and education provided by our principle owner, the Axel and Margaret Ax:son Johnson Foundation for Public Benefit. The foundation is the recipient of the bulk of Nordstjernan’s dividends. For 130 years, we have developed companies that create prosperity and contribute to society as employers, taxpayers and producers of in-demand goods and services.

Responsible enterprise is also pursued through our investments in operations we believe in. 

Read more about Nordstjernan’s social commitment here

Our companies’ efforts in the area of responsible enterprise

Nordstjernan’s impact on its business environment essentially arises when customers use products and services produced by the companies that Nordstjernan owns. Responsible enterprise is pursued in the companies we are involved in based on the conditions prevailing in each industry and company. Click on the links below to read more about our companies’ activities in the area of responsible enterprise.

Bonava

Nobia

Rosti

Employees

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Erik Andersson
Investment Professional (parental leave)
Erik Andersson
Investment Professional (parental leave)

Investment Professional. Employed by Nordstjernan since 2022.

Education: MSc Engineering.

Board assignments: Member of the Board of Insurello AB.

Erik previously worked as Senior Associate Consultant at Bain & Company.

Kajsa Andersson
Communications Manager (parental leave)
Kajsa Andersson
Communications Manager (parental leave)

Communications Manager. Engaged by Nordstjernan since 2023.

Education: MSc Management.

Kajsa previously worked at the communications advisor Friends & Stories and prior to that she was a Senior Consultant at EY.

Ted Arffman
Investment Manager
Ted Arffman
Investment Manager

Investment Manager. Employed by Nordstjernan since 2019.

Education: MSc Economics.

Ted previously worked as an Associate at Ares Management and prior to that as an Analyst at Danske Bank in Stockholm.

Viveca Ax:son Johnson
Chairman
Viveca Ax:son Johnson
Chairman

Chairman since 2007, Vice Chairman 1997-2007, Board member since 1996.

Other assignments: Chairman of the Axel and Margaret Ax:son Johnson Foundation for Public Benefit and Bokförlaget Stolpe AB. Member of the Boards of Bonava AB, FPG Media AB, Prima Vård Sverige AB, the Axel and Margaret Ax:son Johnson Foundation, as well as the Foundation for the Children's Hospital and Research Institute Nadija sr.

Carl Bergsten
Head of Analytics, Controlling and Business Development
Carl Bergsten
Head of Analytics, Controlling and Business Development

Head of Business Support. Employed by Nordstjernan since 2008.

Education: MSc Economics and Engineering.

Carl previously served as a Management Consultant at Bain & Company.

Johan Blomquist
Board member
Johan Blomquist
Board member

Board member since 2021. MSc Economics.

Other assignments: Chairman of Findity AB and Lanterna Holding AB. Board member of Storykit AB and Telavox AB.

Svante Boije af Gennäs
IT Manager
Svante Boije af Gennäs
IT Manager

IT Manager. Employed by Nordstjernan since 2011.

Education: Courses in IT.

Svante has more than 30 years’ broad experience in IT and has managed Nordstjernan’s IT environment since 2008.

Annica Bresky
Board member
Annica Bresky
Board member

Board member since 2024. MSc Engineering. 

Other assignments: Member of the Royal Swedish Academy of Engineering Sciences (IVA), and board member of offshore wind company Ørsted, the tech and sensor company Vaisala and Fagerhult.

Hans De Geer
Investment Professional
Hans De Geer
Investment Professional

Investment Professional. Employed by Nordstjernan since 2023.

Education: MSc Engineering.

Hans previously worked as a Manager at Strategy&.

Karin Ek
Assistant to the CEO
Karin Ek
Assistant to the CEO

Assistant to the CEO. Employed by Nordstjernan since 2023.

Education: Master of Laws

Karin has previously worked as CEO Assistant and within Human Resources in several sectors, including Tech, Private Equity and Investment Banking as well as a foundation in the healthcare sector.

Johan Eklund
Investment Director
Johan Eklund
Investment Director

Investment Director. Employed by Nordstjernan since 2015.

Education: MSc Economics.

Board assignments: Member of the Board of Rosti Group AB.

Johan previously worked as an Analyst at Morgan Stanley.

Jakob Engdahl
Investment Professional
Jakob Engdahl
Investment Professional

Investment Professional. Employed by Nordstjernan since 2022.

Education: BSc Business and Economics.

Jakob previously worked as an Analyst at Citigroup and prior to that as an Analyst at Lincoln International in Stockholm.

Ylva Ersvik
Investment Manager
Ylva Ersvik
Investment Manager

Investment Manager. Employed by Nordstjernan since 2017.

Education: MSc Engineering, BSc Economics.

Board assignments: Member of the Board of Momentum Group AB.

Ylva previously worked as an Investment Professional at Verdane Capital Advisors and prior to that as an Associate at McKinsey & Company in Stockholm.

Susanne Flamme
Head of operations Engelsberg
Susanne Flamme
Head of operations Engelsberg

Head of operations at Engelsberg Ironworks

Employed by Nordstjernan since 2020

Background: Hotel manager and head of marketing

Torbjörn Folkesson
Managing Director
Torbjörn Folkesson
Managing Director

Managing Director. Employed by Nordstjernan since 2020. Head of Nordstjernan Growth. Member of the management team.

Education: MSc Economics, BSc Psychology.

Board assignments: Board member of Mentimeter AB.

Torbjörn worked as an investor in private equity for approximately ten years for 3i and Bain Capital. He has a background as a management consultant and also has operational experience, having been CFO in a rapidly expanding fintech company.

Helena Grane
Investment Professional
Helena Grane
Investment Professional

Investment Professional. Employed by Nordstjernan since 2022.

Education: MSc Economics.

Helena previously worked as Analyst at Nordea Corporate Advisory and prior to that as Fixed Income Sales Manager at Nordea Markets.

Simon Gunnarsson
Managing Director
Simon Gunnarsson
Managing Director

Managing Director. Employed by Nordstjernan since 2015. Head of the Health sector. Member of the management team. 

Education: MSc Engineering, BSc Economics.

Board assignments: Board member of Aidian Oy and Prima Vård Sverige AB.

Simon previously worked as a Consultant at Arthur D. Little in Stockholm.

Gunilla Hansson
Assistant to the Chairman
Gunilla Hansson
Assistant to the Chairman

Assistant to the Chairman. Employed by Nordstjernan since 2007.

Education: Secretarial education at Institutet för Internationell Utbildning (IIU).

Gunilla previously worked as a legal secretary at Gernandt & Danielsson. She has also worked as executive secretary at the Swedish Armed Forces Headquarters and served in the defense department at the Swedish Embassy in Washington, D.C.

Peter Hofvenstam
Senior advisor
Peter Hofvenstam
Senior advisor

Senior advisor. 

Employed by Nordstjernan since 1999. 

Education: MSc Economics.

Board assignments: Board member of Nordstjernan Kredit and Nordstjernan Growth.

Peter was CEO and President of Nordstjernan 2019-2024 and vice president before that. Peter was previously a partner at E. Öhman J:or Fondkommission AB and was active in corporate finance. Prior to that, Peter worked as CFO and a member of Group management at AB Aritmos and as an Analyst at Proventus AB.

Henrik Jonsson
Board member
Henrik Jonsson
Board member

Board member. MSc Real Estate Economics.

Other assigments: Chairman of the Board, Nalka Invest AB. 

Fredrik Karlsson
Senior Advisor
Fredrik Karlsson
Senior Advisor

Senior Advisor since 2020.

Education: MSc Economics.

Board assignments: Chairman of Nordstjernan Growth AB and Capillary Concrete AB. Board member of AIP Infrastructure (Denmark), Peak Nordic Management Advisory AB, Lekolar AB and Pegroco Invest AB.

Fredrik was a partner in the venture capital company 3i during the years 2001-2017. Fredrik held executive positions at 3i and was responsible for global service investments for five years. Prior to that, Fredrik worked at Volvo and the Sixth Swedish National Pension Fund.

Tor Krusell
Communications and HR Director
Tor Krusell
Communications and HR Director

Senior Advisor since 2024.

Nora F. Larssen
Senior Advisor
Nora F. Larssen
Senior Advisor

Investment Director, employed since 2008. Head of the Health sector. Member of the management team.  

Education: MSc Economics and MBA

Board assignments: Chairman of Etac AB and Emma S. AB. Board member of Aidian Oy, Attendo AB and Nobia AB.

From 2008 to 2024 Nora held senior positions at Nordstjernan, including Investment Director and Head of the Health Sector as well as a member of the management team. Nora previously served as Product Line Manager at Electrolux AB. Prior to that, she was a Partner with McKinsey & Co, where she worked for 12 years.

Peter Leimdörfer
Board member
Peter Leimdörfer
Board member

Board member since 2012. MSc Economics.

Other assignments: Chairman of Bodil Bostad. Board member of White Peak Real Estate and Brunswick Real Estate.

Mats Liljegren
Controller
Mats Liljegren
Controller

Controller. Employed by Nordstjernan since 2000.

Education: MSc Economics.

Ebba Lilliehöök
Investment Manager
Ebba Lilliehöök
Investment Manager

Investment Manager. Employed by Nordstjernan since 2023.

Education: MSc Economics.

Board assignments: Board member of Roaring Group AB.

Ebba brings operational experience from acquisitions, investments, and strategy in growth-stage companies. She has held key roles in early-stage businesses and has worked with acquisitions, investments and strategic partnerships in Klarna's Acceleration & M&A team, Telia Ventures and within the Axel Johnson-group.

Johan Lilliehöök
President and CEO
Johan Lilliehöök
President and CEO

CEO.

Employed by Nordstjernan since 2024. Member of the management team.

Education: MSc Business. 

Johan previously worked as Managing Director Investments at A.P. Moller Holding. Before that, Johan worked as Managing Director at Blackstone.

Johanna Lisskar
Real Estate Manager
Johanna Lisskar
Real Estate Manager

Real Estate Manager. Employed by Nordstjernan since 2020.

Education: MSc Engineering.

Johanna previously worked as real estate manager at Tagehus AB and has a background in building construction, product development, and construction and project management.

Tobias Lönnevall
Investment Director
Tobias Lönnevall
Investment Director

Investment Director. Employed by Nordstjernan since 2009

Education: MSc Economics.

Board assignments: Board member of Attendo AB and Bonava AB.

Tobias previously served as CFO at the asset management firm Landic Property. Prior to that he worked at Accenture Management Consulting.

Axel Mörner
Vice Chairman
Axel Mörner
Vice Chairman

Board member and Vice Chairman since 2023. MSc Economics.

Other assignments: Chairman of Axel Johnson Inc. and Björksund Holding AB. Member of the Boards of the Axel and Margaret Ax:son Johnson Foundation for Public Benefit, AxSol AB, the Swedish-American Chamber of Commerce New York, the investment council of Altocumulus Asset Management and the Brilliant Minds Foundation.

Thomas Naess
Managing Director
Thomas Naess
Managing Director

Managing Director. Employed by Nordstjernan since 2015. Head of Nordstjernan Credit. Member of the management team.

Education: MSc Economics.

Board assignments: Member of the investment advisory committee of Brunswick Real Estate Capital Advisory AB.

Thomas was previously a Partner with Goldbridge Capital Partners in London. Prior to that, he worked at BlueBay Asset Management in London and at Deutsche Bank, first in New York and then in London.

Sören Öberg
Caretaker Engelsberg
Sören Öberg
Caretaker Engelsberg

Caretaker at Engelsberg Ironworks

Employed by Nordstjernan 1977-1986 and since 1997.

Jacqueline Odin
Investment Professional
Jacqueline Odin
Investment Professional

Investment Professional. Employed by Nordstjernan since 2022.

Education: MSc Economics.

Jacqueline previously worked in Corporate Finance at Carnegie Investment Bank.

Annalena Olsson
Office Manager
Annalena Olsson
Office Manager

Office Manager. Employed by Nordstjernan since 2022.

Education: MSc Economics.

Annalena previously worked as Office Manager/Executive Assistant at Rothschild & Co with a background in market communication.

Helena Palmér
Head of Group Accounting
Helena Palmér
Head of Group Accounting

Head of Group Accounting. Employed by Nordstjernan since 2020.

Education: MSc Economics.

Helena previously worked as Project Manager at EQT AB and prior to that as Senior Associate at Investor AB.

Martin Prage
Investment Professional
Martin Prage
Investment Professional

Investment Professional. Employed by Nordstjernan since 2022.

Education: MSc Engineering.

Martin previously worked with strategy development at Elekta and prior to that, as a Consultant at Bain & Company.

Engla Ragnarsson
Head Gardener Engelsberg
Engla Ragnarsson
Head Gardener Engelsberg

Head gardener at Engelsberg Ironworks

Employed by Nordstjernan since 2014

Education: Gardening and Garden Design, Gothenburg University

Peter Ragnarsson
Gardener Engelsberg
Peter Ragnarsson
Gardener Engelsberg

Gardener at Engelsberg Ironworks

Employed by Nordstjernan since 2014

Education: Gardening and Garden Design, Gothenburg University

Jimmy Renström
Chief Financial Officer
Jimmy Renström
Chief Financial Officer

Chief Financial Officer. Employed by Nordstjernan since 2024. Member of the management team.

Education: MSc Business and Economics

Jimmy previously worked at Scania, where he held several CFO-positions in Asia and most recently served as Managing Director of Scania China. In addition, Jimmy has CFO experience from a couple of startups and a background in management consulting.

Paula Röttorp
General Counsel
Paula Röttorp
General Counsel

Employed since 2024.

Education: Bachelor of Law and Master of European Studies. 

Other assignments: Board secretary at Nordstjernan. 

Paula has twenty years experience from leading Nordic law firms specializing in bank, finance and transactions and has been a Partner at Hannes Snellman law firm between 2010-2021. She has also served as Managing Partner for the firm's Swedish operations. 

Sofia Samuelsson
Investment Professional (parental leave)
Sofia Samuelsson
Investment Professional (parental leave)

Investment Professional. Employed by Nordstjernan since 2022.

Education: MSc Engineering.

Sofia previously worked as Senior Associate Consultant at Roland Berger.

Emelie Schullström
Reception
Emelie Schullström
Reception

 Employed since 2024.

Previously worked as a receptionist, and before that as a waitress, at Djurönäset conference & hotel. 

Katarina Sivander
Front desk manager
Katarina Sivander
Front desk manager

Front desk manager. Employed by Nordstjernan since 2023.

Education: Hotel and tourism education.

Katarina previously worked as Meeting and Events Manager at Radisson Blu’s facilities at Arlanda.

Johan Sjö
Senior Advisor
Johan Sjö
Senior Advisor

Senior Advisor since 2021.

Education: MSc Economics.

Board assignments: Chairman of Dacke Industri AB, Momentum Group AB and AddLife AB. Board member of Alligo AB, Camfil AB and M2 Asset Management AB.

Johan was previously Investment Director at Nordstjernan and head of the Distribution & Trade sector. Prior to this Johan was President and CEO of Addtech Group and he has also held senior positions in Bergman & Beving Group and at Alfred Berg/ABN Amro.

Daniel Sörén
Caretaker Engelsberg
Daniel Sörén
Caretaker Engelsberg

Caretaker at Engelsberg Ironworks

Employed by Nordstjernan since 2020

Background: Carpenter in construction work and property companies

Elena Sundberg
Accountant
Elena Sundberg
Accountant

Accountant. Employed by Nordstjernan since 2018.

Education: MSc Economics and and BSc Social Work.

Elena previously worked as an accounting assistant at Byggmax AB.

Nils Johan Tjärnlund
Head of Archives and Research
Nils Johan Tjärnlund
Head of Archives and Research

Head of Archives and Research. Employed by Nordstjernan since 2022.

Education: Master’s Degree in Journalism and studies in History and Humanistic sciences.

Nils Johan has a background as science journalist and as head of various communication and knowledge projects within business, foundations and public agencies. He is the author of some ten books, e.g. Järnbrukens historia (The History of the Ironworks) published by the publishing house Bokförlaget Stolpe.

Jenny Torva
Accountant
Jenny Torva
Accountant

Accountant. Employed by Nordstjernan since 2008.

Education: MSc Economics.

Jenny previously worked as head of accounting at KMT Group AB and prior to that was a financial manager at SBC, among other positions.

Rasmus Wiman
Investment Manager
Rasmus Wiman
Investment Manager

Investment Manager. Employed by Nordstjernan since 2016.

Education: MSc Engineering.

Board assignments: Board member of Dacke Industri AB and Sunparadise Group AG.

Rasmus previously worked as an Associate at the Boston Consulting Group in Stockholm.

Working at Nordstjernan

Nordstjernan and our largest owner, a public benefit foundation, combine the best of two worlds – a profit-generating business and a non-profit foundation. The business is built on ethical behaviour and integrity, which permeate everything we do. We have short decision-making channels and offer extensive opportunities for personal development. We encourage and challenge our employees to assume significant responsibility as soon as possible when it comes to building companies, businesses and Nordstjernan as an organization.

We primarily recruit employees to meet immediate needs throughout our operations but are always on the lookout for individuals with experience, a genuine interest in business, entrepreneurship and good business sense.

If you would like to become part of our organization, or if you are interested in finding out more about Nordstjernan, please feel free to submit your CV or contact us at recruiting@nordstjernan.se.