Ten Years of Flow: The River Group Journey

When Carl-Johan Callenholm looks back at the early days of what is now River Group, one thing still stands out: the uncertainty.

“It’s incredible that ten years have passed. Sometimes we almost have to pinch ourselves,” he says.

What started as an idea between experienced industry professionals has grown into one of Northern Europe’s leading independent service providers within pumps and electrical motors. However, in the beginning, there were no guarantees, only a vision and a belief that we had a place on the market.

“Both I and the co-founder, Carl Hall, believed that the industry was ready for something new, and we were right”.

Starting with a Vision

After more than 20 years in the industry, and with Benny Jonsson joining the company bringing nearly 40 years of experience, Carl-Johan felt they understood both the technical side and the market need.

“We saw a clear need for an independent service player. But you never know how the market will respond. You just hope you’re right.”

In 2016, the first three companies were acquired, marking the official start of the journey. By the end of the first year, the group had already grown further.

“We didn’t start with capital. We started with a vision. We had to convince people to believe in the idea. Fortunately, they did.”

Growing Beyond Borders

The initial goal was to become the largest brand independent service provider in the Nordics. The journey began in Sweden and Norway, before expanding into Denmark, Finland, Germany and later the UK.

As the company grew, the vision evolved.

“At one point, it became natural to think bigger; to become a strong independent player across Northern Europe.”

By 2021, the group had reached a turnover of NOK 1.5 billion in just five years and became part of Vestum. In 2023, another defining moment followed when the company returned to independence and was rebranded as River Group. More than 30 key employees took part in the buyback together with Equip Capital.

With independence came a renewed strategic direction and a new name. Lakers became River Group, reflecting a stronger shared identity across the companies.

The vision also evolved once again: Not necessarily to be the biggest, but to be the best independent service provider in Northern Europe.

One Brand, Strong Local Companies

Despite its growth, one principle has remained unchanged: business is local.

“We don’t want to become one centralized company. We want to be one brand and one group, but always with strong local companies close to their customers.”

The idea is to combine the strength of the group with local expertise, shared branding and collaboration, while keeping decision-making close to the market.

“Our strength has always been that we actually come from this industry. We understand it because we have worked in it our entire lives. We are water and pump people.”