M&A Deal Summary

Axcel Acquires itm8

On May 18, 2022, private equity firm Axcel acquired information technology company itm8 from HgCapital

Acquisition Highlights
  • This is Axcel’s 8th transaction in the Information Technology sector.
  • This is Axcel’s 43rd transaction in Denmark.

M&A Deal Summary

Date 2022-05-18
Target itm8
Sector Information Technology
Buyer(s) Axcel
Sellers(s) HgCapital
Deal Type Secondary Buyout

Target

itm8

Herning, Denmark
itm8 is a provider of IT outsourcing focused at smaller businesses. itm8 provides services which allow SMEs to move their IT infrastructure and operations into the cloud, as well as providing end user support and consulting as part of a full-service IT offering. itm8 was founded in 2003 and is based in Herning, Denmark.

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Buyer(S) 1

Buyer

Axcel

Copenhagen, Denmark

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 2.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

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.


DEAL STATS #
Overall 59 of 62
Sector (Information Technology) 8 of 9
Type (Secondary Buyout) 9 of 11
Country (Denmark) 43 of 44
Year (2022) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-18 AddPro

Malmö, Sweden

AddPro conducts operations in the IT area Secure & Efficient IT. With a combination of top-ranked consultants, strategic suppliers, selected cloud services, in-house data centers, and 24/7 staffed support, AddPro can provide customers with the best combination of solutions that meet high business requirements. AddPro was founded in 2000 and is based in Malmo, Sweden.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-30 European Sperm Bank

Copenhagen, Denmark

European Sperm Bank has been established to help women and couples fulfill the dream of having a child. European Sperm Bank was founded in 2004 and is based in Copenhagen, Denmark.

Sell -

Seller(S) 1

SELLER

HgCapital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HgCapital is a European private equity firm focused on a wide range of transactions including public-to-private leveraged buy-outs, management buy-ins, divestitures, and turnarounds. Broad sectors of interest include consumer and leisure, healthcare, industrials, services, technology, media, and renewable energy. The Firm will consider both majority and minority investment positions. HgCapital is the successor to Mercury Capital Partners, a former unit of Merill Lynch which was spun out by management in 2000. HgCapital has offices in London and Munich.


DEAL STATS #
Overall 82 of 87
Sector (Information Technology) 6 of 6
Type (Secondary Buyout) 30 of 32
Country (Denmark) 2 of 2
Year (2022) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-10 Fonds Finanz

Munich, Germany

Fonds Finanz serves more than 28,000 customers including brokers, distributors, insureTechs and banks across Germany. With a comprehensive software, advisory, and service offering, the company gives customers access to a full-service platform, comprising products from more than 500 insurance and financial product vendors in life, health, property & casualty, and investment funds. Fonds Finanz was formed in 1996 and is based in Munich, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-14 MEDIFOX DAN

Hildesheim, Germany

MEDIFOX DAN is a provider of software solutions to outpatient and inpatient care providers and therapy practices. The Company specializes in the development of innovative software solutions and services for professional and non-professional care, therapeutic practices and child, family, and youth welfare facilities. MEDIFOX DAN was established in 1994 and is based in Hildesheim, Germany.

Sell $1.0B