He passed studentexamen at Sigtunaskolan Humanistiska Läroverket in 1941 and graduated from the Royal Institute of Technology in 1945.

Nicolin was CEO of STAL from 1955 to 1959 and of Turbin AB de Laval Ljungström from 1959 to 1961.

[2] In 1961, the Wallenberg family appointed Nicolin as CEO of ASEA, the crown jewel in the Swedish engineering industry.

[3][4] Back at ASEA he took the task of decentralizing the hierarchically-built old engineering company and dividing it into divisions.

[2] In 1976, Marcus Wallenberg Jr. retired from the position of chairman of ASEA and the post was transferred to Nicolin.