Nordic Development

Nordic is an independent advisory and development platform focused on strategy, M&A, and company development.

Founded by Stefan Sigurdsson, Nordic builds on over 20 years of C-level leadership across banking, telecom, infrastructure, and investment management. It’s work spans strategic advisory and M&A origination to development projects in the fields of data centers, infrastructure, and circular economy.

Development & Infrastructure

Nordic develops large-scale infrastructure and property projects, with a primary focus on data centers and other power-intensive industries.

Through North Ventures, Nordic provides expertise in site selection, data center development, and on-the-ground project support for international partners establishing operations in Iceland.

North Ranga, a joint venture with West Ranga Property Group, delivers tailored property development solutions for power-intensive occupiers in Iceland and abroad.

North Ventures logo – data center development and site selection partner in Iceland.
North Ranga logo – property development joint venture for power-intensive industries in Iceland.

M&A & Senior Advisory

Nordic provides senior advisory to investment funds, building on deep industry knowledge and background both as a sponsor and an advisor in M&A.

Notable mandates include serving as Senior Advisor to Summa’s Innvidir Infrastructure Fund on the acquisition of Mila (Iceland’s incumbent telecom infrastructure) alongside Ardian in 2022.

Nordic has also held a number of past and ongoing senior advisory mandates for investment funds across infrastructure, alternative investments, and private equity (confidential).

Summa Infrastructure Fund logo – investment partner in Nordic telecom and infrastructure M&A.

Strategy & Implementation

Nordic advises on institution-wide strategy and transformation projects across industries. Engagements have included the Federation of Icelandic Industries, Klak Icelandic Startups, the National Hospital’s R&D division, and the Iceland Symphony Orchestra — building on more than a decade of strategic leadership and implementation at Vodafone Iceland (Nasdaq OMX: SYN) and Íslandsbanki.

Federation of Icelandic Industries logo – advisory partner in strategy and transformation projects.
Iceland Symphony Orchestra logo – national cultural institution supported through institution wide strategy project.
Klak Icelandic Startups logo – innovation and entrepreneurship partner in Iceland supported by Nordic Development's strategic advisory.
Landspítali – National University Hospital of Iceland suppported by Nordic Development's advisory

Board Roles & Chairmanships

Current board roles include:

  • Íslandsbanki – one of Iceland’s leading universal banks, with a history dating back to 1875

  • Isavia ANS – Chairman of the Board. Provides air navigation services across one of the world’s largest control areas across the North Atlantic and for Iceland

  • FÓLK Reykjavik – an emerging international brand in sustainable and circular design

In addition, serving as Chairman of the Board for North Ventures and North Ranga, co-owned by Nordic Development.

Islandsbanki logo – leading universal bank in Iceland, on the board of directors
Isavia ANS – Chairman of the Board of Iceland’s national air navigation services provider, overseeing North Atlantic flight control.
FÓLK Reykjavik – international design brand focused on circular economy and sustainable interiors, on the board and former Chairman of the board.