Intera invests in HögforsGST, a Finnish heating and cooling solution supplier


As a result of the arrangement, Intera becomes a new partner and shareholder in the company developing solutions to help improve the energy efficiency in properties.

HögforsGST is a Finnish company located in Leppävirta that specialises in the development, manufacture, sale and marketing of high-quality heating and cooling systems and is the leading heating substations supplier in the Nordic countries. The company’s objective is to reduce energy losses in properties while efficiently bringing down living costs and greenhouse gas emissions derived from heating and cooling.

Intera recognized HögforsGST’s expertise and capability to operate within a market that is currently in great transition from the viewpoint of individual property owners as well as the whole heating system.

”Solutions related to energy conservation are more topical than perhaps ever before. Heating and cooling are one of the greatest expenditures related to properties. The rising energy prices will increasingly add to the need to keep living costs under control. Meanwhile, we also need new solutions to combat climate change. HögforsGST helps to bring costs down as well as build a more sustainable world—this is a combination of aspirations we are happy to support,” states Tuomas Sarkola, partner in Intera.

HögforsGST’s high-quality heating solutions improve the energy efficiency in properties – by saving energy the company helps to reduce greenhouse gas emissions. In addition, the company’s hybrid solutions enable the possibility to utilize different renewable energy sources—such as waste heat—in the heating and cooling of properties.

Intera wishes to offer HögforsGST more opportunities to increase investments in product development and— together with the management and key personnel—to take the company to the next level both in Finland and internationally.

”For decades, we have developed solutions to reduce energy losses and are deeply pleased to join forces with our new partner Intera to step up our growth and product development. Together with Intera we can further develop our solutions to match the needs for sustainable energy consumption while taking the whole heating sector towards a more sustainable future,” says Antti Hartman, CEO of HögforsGST.

Other shareholders in the company are HögforsGST’s key personnel that will continue as shareholders and employees in the company. The arrangement has no effect on HögforsGST’s current customer agreements or personnel.


More information:

Tuomas Sarkola
partner, Intera Partners
+358 40 845 6493

Antti Hartman
CEO, HögforsGST
+358 400 738 325


Intera is a Finnish private equity firm with a focus on growth and internationalization. Intera manages three active funds with a total capital of EUR 785 million. The funds are invested in a total of 10 portfolio companies with a combined revenue of EUR 900 million and 11,000 employees.

HögforsGST is a Finnish company that specialises in the manufacture, sale and marketing of high-quality heating and cooling systems. We are the leading supplier of heat substations in the Nordic countries, and our modern Fiksu- and HybridHEAT -heating solutions reduce both emissions and costs caused by heating. We manufacture all our products in our factory, which is located in Leppävirta along with our company headquarters. We have a comprehensive sales network throughout Finland and subsidiaries in Sweden and Norway. HögforsGST employs 140 people and has an annual turnover of approximately EUR 30 million, which largely consists of exports.