Smart Buildings

Mapping the Strategic Direction of Nordomatic in Smart Buildings

In this Research Note, we explore the strategic direction of Nordomatic, the leading independent BMS systems integrator in Scandinavia. This Research Note examines the company’s strategic priorities in the smart commercial buildings space. through mapping M&A and investment activity to ascertain the growth ambitions of the business from 2019 to date. Founded in 1967 and headquartered in Stockholm, Nordomatic offers full life-cycle capabilities for its customers, from new project integrations, retrofits, and upgrades to aftermarket service and support. Its Building Management Systems solutions can integrate and manage a building’s heating/ cooling, lighting, access control, and security as well as fire control. The company also sells Ecopilot and Smart Heating intelligent systems - enabling building energy cost reductions of up to 40% and helping users to meet EU climate and energy goals. With 2023 revenues of approximately SEK 1,500 million (around EUR 130 million), 20 offices, over 30 service points in Scandinavia, UK and Benelux and a workforce […]

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In this Research Note, we explore the strategic direction of Nordomatic, the leading independent BMS systems integrator in Scandinavia.

This Research Note examines the company’s strategic priorities in the smart commercial buildings space. through mapping M&A and investment activity to ascertain the growth ambitions of the business from 2019 to date.

Founded in 1967 and headquartered in Stockholm, Nordomatic offers full life-cycle capabilities for its customers, from new project integrations, retrofits, and upgrades to aftermarket service and support. Its Building Management Systems solutions can integrate and manage a building’s heating/ cooling, lighting, access control, and security as well as fire control.

The company also sells Ecopilot and Smart Heating intelligent systems - enabling building energy cost reductions of up to 40% and helping users to meet EU climate and energy goals.

With 2023 revenues of approximately SEK 1,500 million (around EUR 130 million), 20 offices, over 30 service points in Scandinavia, UK and Benelux and a workforce of more than 850, the group’s vision to achieve global impact leadership within the Smart Buildings market is starting to be realized.

Nordomatic Strategy Map 2024

Nordomatic Nordic Region Acquisitions

For the past decade, the company has embarked on an expansion journey making multiple acquisitions in its ambition to further strengthen its value proposition and successfully gain market share in the Nordic region. Backed by the , Nordomatic embarked on a growth phase in 2016, aiming to be the leading smart buildings and real estate automation specialist in the Nordic region.

In July 2020, with Trill Impact, a new private equity firm holding a majority stake, Nordomatic continued to expand and accelerate its impact footprint.

In March 2022, Nortech, an Oslo-based systems integrator of smart building solutions, was acquired, strengthening Nordomatic’s position in Norway.

In September 2022, Nordomatic announced the acquisition of the remaining 40% of the shares in Altacogni AB, based in Stockholm. The investment enables Nordomatic to continue to develop Altacogni’s smart buildings IoT software and hardware platform under the brand Yanzi Networks.

The platform manages 100,000,000 data points per day and operates more than 100,000 sensors in the US, Europe and Asia. Nordomatic first announced a significant minority stake in Altacogni in August 2020 in order to develop its cloud-based services and products to the next level. The platform was acquired from Yanzi Networks, which declared bankruptcy in July 2020.

Benelux & UK Acquisitions

In 2022, the group expanded beyond the Nordic region entering three new markets – UK, Belgium and the Netherlands, as well as acquiring an IoT platform.

Acquisitions included;

  • Spica Technologies, a Birmingham, UK-based provider of digital workplace software and cloud-based technology, has been deployed in 26 countries.
  • Demma Group, a UK building automation systems integrator.
  • Y-con, a Dutch BMS provider which also has a presence in Belgium.
  • iBESS, a Belgian BMS company with customers throughout Benelux.

In July 2023, Nordomatic continued its growth strategy with the strategic acquisitions of Pillinger Controls in England and MRC innovatief klimaatbeheer in the Netherlands. This expansion will create opportunities for increased projects and synergies and enable Nordomatic to explore new business ventures and Building Management Systems.

Pillinger Controls, a well-established company with 20 years of experience, is based in the southwest of London and primarily operates in the southeast region. With a workforce of 57 employees and an annual turnover of £5 million, Pillinger Controls has earned a strong reputation for its maintenance services. The company boasts a high-profile client base in the education and pharmacy sectors, augmenting Nordomatic’s portfolio.

MRC will help Nordomatic increase its footprint in the Netherlands and tap into the Dutch market’s vast potential. MRC’s industry experience spanning 25 years, along with its client database and expertise in various BMS systems and controls is intended to play a pivotal role in the growth of Nordomatic.

In January 2024, the acquisition of VAM Technics Europe, a Belgian company specializing in Building Management Systems (BMS) services, marked continued expansion in Nordomatic’s growth journey.

Nordomatic is gaining traction as Europe’s leading independent systems integrator focusing on smart buildings while at the same time expanding its digital service business through cloud-based workplace and energy management SaaS offerings.

This article was written by Daphne Tomlinson, Senior Research Associate at Memoori.

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