Latour, backed by Swedish noble family, acquires stake in flood protection company Noaq

Noaq Flood Protection has grown rapidly in a market that, unfortunately, is becoming more urgent: climate adaptation.

Noaq’s flood barrier automatically rises when water levels rise, using water pressure to create a temporary wall that stops floods without needing electricity or manual setup.

Now the Swedish company is bringing in a new industrial owner. Latour, the investment company controlled by the Swedish noble Douglas family, holds significant stakes in several firms, including the world’s largest lock producer, Assa Abloy, is acquiring about 20 % of Noaq through its impact-focused investment arm, Latour Future Solutions.

Noaq's CEO and founder Douglas Hällström tells Impact Loop that he doesn't want to say exactly how much Latour had to pay for a fifth of the company – but he gives a clear hint: "The deal was made with a company valuation of just over SEK 100m [€9.2m]," he says.

The plan is for the new owner to take a seat on the board.

"It will be a huge strength for us. Partly, we see it as proof that they think we are good. Partly, we get support that can help us in the next phase," says Hällström.

Next steps

"We've gone from being an 'old startup' to now scaling up and industrialising the business in a completely different way: building processes, getting the structure in order, and ramping up. That's where Latour is a perfect fit."

In 2024, Noaq's turnover increased by 78% to SEK 57m (€5.2m). Now they are set to nearly double again, according to the CEO. He expects a turnover of over SEK 100m (€9.2m) when the books close for 2025.

"It feels great to increase and almost double for the second year in a row. We want to continue building this industry that we helped create back in 1993," says Hällström.

Latour Future Solutions, for its part, describes the investment as a way to make a concrete contribution to climate adaptation.

"Climate change leads to increased frequency of extreme weather and floods. Noaq's solutions contribute concretely to climate adaptation and protection of communities worldwide," says investor Pelle Mattisson in a press statement.

Last year, Noaq announced a five-year licensing agreement in the US where a local partner handles manufacturing and sales. The company currently sells its mobile flood barriers in over 40 countries.