Mutares SE & Co. KGaA Lists Terranor Group on Stockholm's Nasdaq First North

Mutares SE & Co. KGaA announced the successful listing of Terranor Group AB (publ) on the Nasdaq First North Growth Market in Stockholm. The debut saw Terranor shares open at SEK 20, valuing the company at SEK 400 million (approximately EUR 36 million). Mutares remains the majority shareholder with a 75% stake after selling 25% of the shares to new investors.

Terranor, a leading provider in operation and maintenance services, reported revenues of EUR 285 million in 2024. Mutares, which acquired Terranor's Nordic operations in 2020 and 2021, strategically transformed the company, leading to an average annual growth of 21% from 2022 to 2024.

The market outlook remains positive, supported by ongoing urbanization and public infrastructure investments. Mutares emphasizes Terranor's growth potential and sustainable demand for its services.