Axcel Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Axcel has acquired 7 companies. It has also invested in 2 others.

Axcel’s most common sectors for investment areinformation technology (15%) and consumer products (10%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (57%) and secondary buyout (18%). In total, Axcel has invested in 6 different countries.

In the last 3 years, Axcel has exited 5 companies. The Firm’s most common exit type is secondary buyout (28%). Axcel’s largest (disclosed) exit occurred in 2007 when it sold Icopal AS for $965M.

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M&A Summary

  • M&A Total Activity105
    • M&A Buy Activity62
    • M&A Sell Activity43
  • Total Sectors Invested 29
  • Total Countries Invested 6
  • M&A Buy/Sell Connections 20
  • M&A Advisors 4

Axcel

Sankt Annæ Plads 10,
Copenhagen, 1250
Denmark
+45 333 66 999
www.axcel.dk
axcel@axcel.dk

Axcel Management AS is a private equity firm focused on mid-market buyouts in Denmark and Sweden. Axcel primarily seeks companies with a strong Danish or Swedish base and international potential. The Firm looks to invest in companies with revenues of DKK 250 million (€ 35 million) to DKK 4 billion (€ 535 million). Axcel prefers majority positions. Axcel Management A/S was formed in 1994. The Firm is based in Copenhagen with an additional office in Stockholm.


Investment Criteria

Sectors of Interest: Agriculture, Apparel/Textiles, Automotive, Building Materials, Business Services, Construction, Consumer Products, Consumer Services, Education, Electronics, Environmental, Financial Services, Furniture, Information Technology, Machinery, Manufacturing, Metals/Mining, Packaging, Plastics, Publishing, Retail, Staffing, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Secondary Buyout

Geographic Preferences: Nordic

Transaction Criteria Min Max
Target Revenue 35 535
Target EBITDA - -
Investment Size - -
Enterprise Value - -
values in millions of EUR

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (2.6/yr) # 49 4 3 6 - - 62
Sell (1.0/yr) # 38 - 1 4 - - 43
vol $2.1B $2.1B
  105

Most Recent M&A

Company Date Value Type
Frontmatec Group 2022-11-10 - Trade Sale
Kolding, Denmark · www.frontmatec.com
Voff Premium Pet Food 2022-07-13 - Secondary Buyout
Stockholm, Sweden · www.voff.pet
Oral Care AB 2022-07-12 - Secondary Buyout
Stockholm, Sweden · www.oralcare.se
NTI A/S 2022-06-27 - Growth Capital
Værløse, Denmark · www.nti.biz
European Sperm Bank ApS 2022-05-30 - Secondary Sale
Copenhagen, Denmark · www.europeanspermbank.com
IT Relation A/S 2022-05-18 - Secondary Buyout
Herning, Denmark · www.itm8.com
AddPro AB 2022-05-18 - Trade Sale
Malmö, Sweden · www.addpro.se
Aidian Oy 2022-02-22 - Secondary Sale
Espoo, Finland · www.aidian.eu
Danx A/S 2022-01-12 - Buyout (LBO, MBO, MBI)
Ishøj, Denmark · www.danx.com
Picca Automation A/S 2022-01-06 - Buyout (LBO, MBO, MBI)
Soborg, Denmark · www.picca.dk
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
IT Relation A/S 2022-05-18 AddPro AB 2022-05-18 1
Herning, Denmark · www.itm8.com Malmö, Sweden · www.addpro.se
Danx A/S 2022-01-12 Carousel Logistics Ltd. 2022-01-12 1
Ishøj, Denmark · www.danx.com Kent, United Kingdom · www.carousel.eu

M&A by Sector

Sector Current # Value All-time # Value
Information Technology 4 (21%) - 9 (15%) -
Consumer Products 2 (11%) - 6 (10%) -
Manufacturing - - 5 (8%) -
Apparel/Textiles - - 4 (6%) -
Building Materials - - 4 (6%) -
Business Services 1 (5%) - 3 (5%) -
Machinery - - 3 (5%) -
Software 2 (11%) - 3 (5%) -
Transportation 1 (5%) - 3 (5%) -
Automotive 2 (11%) - 2 (3%) -
Internet Software and Services 2 (11%) - 2 (3%) -
Agriculture - - 1 (2%) -
Communications - - 1 (2%) -
Construction - - 1 (2%) -
Consumer Services 1 (5%) - 1 (2%) -
Education - - 1 (2%) -
Electronics - - 1 (2%) -
Energy Services and Equipment - - 1 (2%) -
Environmental 1 (5%) - 1 (2%) -
Financial Services 1 (5%) - 1 (2%) -
Furniture - - 1 (2%) -
Healthcare Services 1 (5%) - 1 (2%) -
Life Science - - 1 (2%) -
Marine - - 1 (2%) -
Medical Products - - 1 (2%) -
Plastics - - 1 (2%) -
Retail - - 1 (2%) -
Staffing 1 (5%) - 1 (2%) -
Technology Hardware - - 1 (2%) -
Total 19 - 62 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
Denmark 13 (68%) - 44 (72%) -
Sweden 4 (21%) - 12 (20%) -
Finland 1 (5%) - 2 (3%) -
Norway 1 (5%) - 1 (2%) -
Belgium - - 1 (2%) -
Slovakia - - 1 (2%) -
Domestic 13 (68%) - 44 (72%) -
Cross-border 6 (32%) - 17 (28%) -
Total 19 - 61 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 4 (21%) - 35 (56%) -
Secondary Buyout 6 (32%) - 11 (18%) -
Growth Capital 6 (32%) - 9 (15%) -
Consolidation 2 (11%) - 3 (5%) -
Divestiture - - 2 (3%) -
Stake Purchase 1 (5%) - 2 (3%) -
Total 19 - 62 -

Exits by Deal Type

Type Total # Value
Secondary Sale 14 (33%) 1.3B (60%)
Trade Sale 12 (28%) -
Trade Sale - Public Company 6 (14%) 844M (40%)
Sold to Management 6 (14%) -
Unknown 2 (5%) -
IPO 1 (2%) -
Merger 1 (2%) -
Stake Sale 1 (2%) -
Total 43 $2.1B

Top M&A Advisors

Financial Deals
Deloitte
 2
Legal Deals
Ropes & Gray
 1
Gorrissen Federspiel Advokatpartnerselskab
 1
Moalem Weitemeyer
 1

Deal Values

sell # Total
$100M to $1B 5 $2.0B
< $100M 1 $74M
TOTAL $2.1B
Largest Icopal AS
$965M (2007-07-01)

M&A Connections

Deals
Acquired from
Investor(s)
18%
11 (18%)
Strategic(s)
6%
4 (6%)
Exited to
Investor(s)
30%
13 (30%)
Strategic(s)
26%
11 (26%)

Investor Summary

Investor Type

Private Equity Firm

Size

Large

PE Assets

2.0B EUR

Established

1994

Specialist/Generalist

Generalist

Leadership

Christian Schmidt-Jacobsen

Managing Partner

Jesper Frydensberg Rasmussen

Head of Finance and Compliance

Asbjorn Mosgaard Hyldgaard

Partner

Bjorn Larsson

Partner

Christian Bamberger Bro

Partner

FAQ

When was Axcel founded?

Axcel was founded in 1994.

What type of investor is Axcel?

Axcel is a private equity firm.

Where is Axcel headquartered?

Axcel is headquartered in Copenhagen, Denmark.

How much capital does Axcel have under management?

Axcel has 2.0B EUR under management.

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