Norteam targets SEK 1 billion in revenue – Evolver becomes new majority owner as Martin Norström leads the next phase of growth

Evolver Equity, through Evolver Fund II, becomes the new majority owner of Norteam AB, a fast-growing Swedish specialist in Microsoft Cloud. The investment marks the start of a Nordic growth journey with the ambition to build a leading provider of Microsoft-based IT services for small and medium-sized enterprises – and to reach SEK 1 billion in revenue within 3–5 years.

Norteam was founded in 2017 by Göran and Martin Norström and has since developed into a strong Microsoft Cloud specialist with more than 50 consultants, approximately SEK 130 million in revenue, and offices in Stockholm, Gothenburg and Västerås. The company has a broad customer base across sectors including legal, retail and manufacturing.

The business is built around Microsoft’s three cloud platforms – Microsoft 365, Azure and Dynamics 365 – and operates across six specialist areas: AI & Copilot, Cybersecurity, Microsoft 365 & Workplace, Azure & Infrastructure, Dynamics 365 Business Central, and Data Analytics & Fabric.

In connection with the transaction, co-founder Göran Norström exits the ownership group. Martin Norström reinvests his entire holding in the new group and assumes the role of Group CEO. As founder, operational leader and continued significant owner, Martin will be a key person in Norteam’s next phase, with a mandate to build the group into a leading Nordic Microsoft Cloud platform.

“What we have built since 2017 has exceeded our original plans – and it is our employees and customers who have brought us here. I am reinvesting my entire holding because I am convinced that Norteam is entering its most exciting phase to date. Together with Evolver, we gain an owner with capital, experience and a clear industrial rationale to accelerate the journey. We will combine the breadth of a larger player with the depth and customer proximity of a specialist – that is the combination the market is asking for,” says Martin Norström, Group CEO of the Norteam group.

Customer-oriented acquisition strategy with Microsoft Cloud and AI as the foundation

Norteam will pursue an active and customer-oriented acquisition strategy, where each acquisition will strengthen the group’s technical expertise, broaden its delivery capacity and deepen its offering within the Microsoft ecosystem. The driving force is to create greater value for customers – not growth for growth’s sake.

By adding niche specialists in complementary areas, Norteam can take greater responsibility for customers’ digital development and offer a more complete delivery within Microsoft Cloud. As part of the journey, the group will also establish additional offices in Sweden and the wider Nordic region, with continued focus on local customer proximity and high technical competence.

AI and Microsoft Copilot are central parts of the growth plan and will be gradually integrated into Norteam’s delivery model. The company is also developing its own ISV solutions on top of Microsoft’s service portfolio, including the SaaS platform CloudPortal, which provides customers with increased automation, better control and specialist functionality beyond Microsoft’s standard offering.

“We see a significant opportunity to build a leading Nordic platform within Microsoft-based IT services. The Microsoft Cloud ecosystem is developing rapidly, not least through AI, and customers need partners that can combine deep technical expertise with business understanding and strong delivery capabilities. Norteam has demonstrated that it can grow with quality, customer proximity and commercial drive. With Martin continuing as leader and significant owner, we see very strong conditions for accelerating the company’s development on a Nordic scale,” says Johan Porko, Partner at Evolver Equity.

Martin Norström and Evolver share the ambition to further develop Norteam into a Nordic group of entrepreneur-led specialist companies with strong customer proximity, high technical competence and a shared ability to deliver business-critical Microsoft Cloud services to small and medium-sized enterprises.

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Additional information:

Martin Norström, Group CEO, Norteam AB
+46 70 791 98 31 · martin.norstrom@norteam.se

Johan Porko, Partner, Evolver Equity Ab
+358 40 549 1518 · johan.porko@evolverequity.com