Current portfolio

Dellner Couplers

A global, niche provider of safety-critical train connection systems for passenger rail rolling stock

Dellner has been in the railway industry for 80 years, building its reputation on decades of groundbreaking research and advanced design

  • Sector
    Industrial Technology
  • Country
  • Responsible Advisor
    Nils Ketter
  • Fund
  • Entry
  • Web

Private Capital

Dellner Couplers

Dellner Couplers

About Dellner
Founded 1941 in Sweden, Dellner has grown from being a small couplers producer to a global niche market leader in safety-critical components for passenger rail rolling stock. The company offers full train connection systems including couplers, gangways, hatches, dampers, and crash management systems, complemented by aftermarket services and support. The Company is headquartered in Sweden, employs approximately 950 people globally, and generated sales of approximately SEK 1.9 billion in 2018.

Market trends & drivers
The market is benefiting from positive secular megatrends. Couplers are safety-critical, yet represent a low share of customer’s total cost. High entry barriers due to product complexity, technical qualifications, and service network. Extensive aftersales network that makes the company local-with-locals and generates a profitable aftermarket business for 30-40 years

Investment Potential
Dellner is a resilient and uniquely positioned company in an attractive industrial segment, with clear value creation potential. EQT will support Dellner and the management team with further investments in R&D and innovation initiatives and accelerate global growth by contributing EQT’s strong industrial expertise and network of Industrial Advisors.

The investment is in line with EQT’s thematic approach of investing with the trend in businesses with positive societal impact, advancing the progress of one or more of the United Nations Sustainable Development Goals (“SDG”). Dellner contributes to society by developing products that promote and enable safe and sustainable public rail transportation and EQT will support the Company to stay in the forefront of sustainability.

Board of directors

  • Chairperson
    Klaus Deller
  • Board member
    Mats Svensson
  • Board member
    Viveka Ekberg
  • Board member
    Andreas Knitter
  • Board member
    Nils Ketter


  • CEO
    Peter Woxblom
  • CFO
    Thomas Leander
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