Leading player in the Nordic waterproofing market

Nordic Waterproofing

Nordic Waterproofing’s business model is to develop, manufacture, market and distribute a complete range of products and solutions to protect buildings and infrastructure. The company has two business areas, Products & Solutions, which produces products for the waterproofing market, and Installation Services, which does business in installation and contracting.


Nordic Waterproofing (NWG) was formed in 2011 through a merger of the Danish and Swedish waterproofing subsidiaries of the Trelleborg Group and the Finnish roofing business owned by Lemminkäinen but the company’s brands have a considerably longer history. The oldest brand, Trebolit, was founded in 1889. It was then called Phylatterion and manufactured roofing felt. The company continued developing new brands through the 1900s, including Mataki (1904), Kerabit (1907), Phønix Tag (1920), SealEco (1967) and Nortett (1978). Trelleborg Building Systems acquired Mataki, an active consolidator in the Nordic market, in 1995. Trelleborg’s Danish and Swedish operations were merged in 2011 with Lemminkäinen’s roofing business, which strengthened the company’s position in the Finnish installation market.

After building a strong position in the Nordic roofing products and installation market in the 1900s, NWG began its European expansion in 2011 through organic and acquired growth. Wulva, a Belgian distributor and prefabricator of EPDM, was acquired in 2011. Nortett Bygg (a dealer and distributor in Norway) and Al-Katot (a Finnish installation company) were acquired in 2012. Univex, like Wulva a distributor and prefabricator operating in the Belgian market, was acquired in 2014. There were five acquisitions in 2017, four in the Nordics (SPT-Painting, La Kattohuolto, Taasinge Elementer, Ugilt Savvaerk) and one in the Netherlands, EPDM Systems.

Products & Solutions

Products & Solutions primarily offers flat roofing and pitched roofing products produced in-house to the Nordic and European markets. NWG also offers complementary products produced by subcontractors, such as plastic sheets and moisture barriers. The products are sold under the Mataki, Hetag Tagmaterialer, Kerabit, Nortett, Phønix Tag, Trebolit and SealEco brands. The group has twelve sales offices located in proximity to customers to maintain good customer relationships and shorten lead-times. In 2016, the segment generated 71% of total consolidated sales and 88% of EBIT adjusted for items affecting comparability. Products & Solutions operates in a mature and consolidated market with low underlying growth that has historically correlated well with GDP growth in its markets.

Installation Services

The Installation Services segment offers its customers turnkey installation services that are sold in Finland through Danish subsidiaries and routed via franchisees. The segment offers its customers construction of the entire roof as well as other installation services, the majority consisting of NWG’s own roofing products. The segment is dependent upon the underlying construction cycle, which has struggled in the Finnish market but has begun to show momentum in the past three years.

The Nordic waterproofing market

The waterproofing market covers products and services for waterproofing and protecting privately and publicly owned buildings, bridges and other structures. Nordic Waterproofing’s main markets are the Nordic countries, where they offer roofing felt, primarily bitumen-based, in Finland, Sweden and Denmark, as well as installation services, the latter primarily in the Finnish market. In northern Europe, the company operates in the Netherlands, Belgium, Poland, the UK and Germany, where NWG offers rubber membranes made of EPDM. In 2015, the Nordic waterproofing market was worth SEK 15 billion and the EPDM market SEK 1.5 billion. As the Nordic waterproofing market is consolidated and mature, market shares tend to be stable over time.

Tell a friend

Here you can tip someone by sending a link to this page:


Share this link to your network through social media.