Jøtul AS

Jøtul AS, based in Norway, specializes in manufacturing high-quality cast iron stoves, fireplaces, and inserts, blending traditional craftsmanship with modern technology to provide effective heating solutions. Founded in 1853 in Fredrikstad, Norway, Jøtul AS is a manufacturer of heating solutions. In February 2018, OpenGate Capital acquired Jøtul AS from Ratos for approximately NOK 360 million. The company has completed 4 deals, with the latest round being a Secondary Buyout, raising a total of NOK 360 million.

Jøtul specializes in the design and manufacture of high-quality cast iron stoves, fireplaces, and inserts. Their core offerings include the iconic F 602, a staple since the 1940s, and the innovative Jøtul F 602 V3, which utilizes Fusion Technology to enhance heating efficiency and reduce environmental impact. Products are handmade in Maine and Norway, targeting markets primarily in North America, Europe, and select international regions. In the most recent year, 2023, Jøtul generated a revenue of NOK 149,265,673.

40 and an EBITDA of NOK 21,359,834. 90. Revenue comes from direct sales of wood stoves, gas stoves, and fireplace inserts to individual consumers and a network of dealers, as well as through partnerships with retailers and wholesalers. Jøtul AS plans to expand its product line with new technologies aimed at increasing efficiency and sustainability.

Specific upcoming products are in the design phase, with anticipated releases within the next year. The company is also looking to expand into new markets in Asia and South America by 2025. The recent funding from OpenGate Capital will be directed towards these product developments and market expansions.