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Axcel Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Axcel has acquired 10 companies. It has also invested in 1 other.

Axcel’s most common sectors for investment areinformation technology (14%) and software (9%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (58%) and secondary buyout (18%). In total, Axcel has invested in 6 different countries.

In the last 3 years, Axcel has exited 9 companies. The Firm’s most common exit type is trade sale (31%). 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 Activity118
    • M&A Buy Activity69
    • M&A Sell Activity49
  • Total Sectors Invested 31
  • Total Countries Invested 6
  • M&A Buy/Sell Connections 24
  • M&A Advisors 8

Axcel

Axcel Management A/S

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 ≤ '20 '21 '22 '23 '24 '25 T
Buy (2.8/yr) # 55 3 6 3 2 - 69
Sell (2.0/yr) # 39 1 4 2 3 - 49
vol $2.7B $388M $3.1B
  118

Most Recent M&A

Company Date Value Type
Nordic Tyre Group AB 2024-12-20 - Secondary Buyout
Stockholm, Sweden · www.nordictyregroup.com
Accru Partners 2024-10-04 - Consolidation
Stockholm, Sweden · www.accrupartners.com
Nissens A/S 2024-07-10 388M USD Trade Sale
Horsens, Denmark · www.nissens.com
Danish Ship Finance A/S 2024-06-10 - Secondary Sale
Copenhagen, Denmark · www.shipfinance.dk
Loopia AB 2024-05-23 - Trade Sale
Vasteras, Sweden · www.loopia.com
Delete Group Oy 2023-12-05 - Trade Sale
Helsinki, Finland · www.delete.fi
Mountain Top Industries ApS 2023-10-17 - Trade Sale
Frederikssund, Denmark · www.mountaintop.dk
Elcor 2023-09-19 - Buyout (LBO, MBO, MBI)
, Denmark · www.elcor.dk
Progrits AB 2023-06-13 - Buyout (LBO, MBO, MBI)
Gothenburg, Sweden · www.progrits.se
XPartners Samhällsbyggnad AB 2023-05-03 - Buyout (LBO, MBO, MBI)
Stockholm, Sweden · www.xpartners.se
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Elcor 2023-09-19 tic elkas A/S 2023-09-19 2
, Denmark · www.elcor.dk Skovlunde, Denmark · www.ticelkas.com
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 (20%) - 9 (13%) -
Consumer Products 2 (10%) - 6 (9%) -
Software 4 (20%) - 6 (9%) -
Business Services 3 (15%) - 5 (7%) -
Manufacturing - - 5 (7%) -
Apparel/Textiles - - 4 (6%) -
Building Materials - - 4 (6%) -
Machinery - - 3 (4%) -
Transportation 1 (5%) - 3 (4%) -
Automotive - - 2 (3%) -
Internet Software and Services 1 (5%) - 2 (3%) -
Agriculture - - 1 (1%) -
Communications - - 1 (1%) -
Construction - - 1 (1%) -
Consumer Services 1 (5%) - 1 (1%) -
Distribution 1 (5%) - 1 (1%) -
Education - - 1 (1%) -
Electrical Equipment 1 (5%) - 1 (1%) -
Electronics - - 1 (1%) -
Energy Services and Equipment - - 1 (1%) -
Environmental - - 1 (1%) -
Financial Services - - 1 (1%) -
Furniture - - 1 (1%) -
Healthcare Services 1 (5%) - 1 (1%) -
Life Science - - 1 (1%) -
Marine - - 1 (1%) -
Medical Products - - 1 (1%) -
Plastics - - 1 (1%) -
Retail - - 1 (1%) -
Staffing 1 (5%) - 1 (1%) -
Technology Hardware - - 1 (1%) -
Total 20 - 69 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
Denmark 12 (60%) - 47 (69%) -
Sweden 7 (35%) - 16 (24%) -
Finland - - 2 (3%) -
Norway 1 (5%) - 1 (1%) -
Belgium - - 1 (1%) -
Slovakia - - 1 (1%) -
Domestic 12 (60%) - 47 (69%) -
Cross-border 8 (40%) - 21 (31%) -
Total 20 - 68 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 7 (35%) - 40 (58%) -
Secondary Buyout 6 (30%) - 12 (17%) -
Growth Capital 4 (20%) - 9 (13%) -
Consolidation 3 (15%) - 4 (6%) -
Divestiture - - 3 (4%) -
Stake Purchase - - 1 (1%) -
Total 20 - 69 -

Exits by Deal Type

Type Total # Value
Secondary Sale 16 (33%) 1.8B (60%)
Trade Sale 15 (31%) -
Trade Sale - Public Company 7 (14%) 1.2B (40%)
Sold to Management 6 (12%) -
Unknown 2 (4%) -
IPO 1 (2%) -
Merger 1 (2%) -
Stake Sale 1 (2%) -
Total 49 $3.1B

Top M&A Advisors

Financial Deals
Deloitte
 2
FIH Partners
 1
Harris Williams
 1
Legal Deals
Accura
 1
Gorrissen Federspiel Advokatpartnerselskab
 1
Ropes & Gray
 1

Deal Values

sell # Total
$100M to $1B 7 $3.0B
< $100M 1 $74M
TOTAL $3.1B
Largest Icopal AS
$965M (2007-07-01)

M&A Connections

Deals
Acquired from
Investor(s)
17%
12 (17%)
Strategic(s)
6%
4 (6%)
Exited to
Investor(s)
31%
15 (31%)
Strategic(s)
31%
15 (31%)

Investor Summary

Investor Type

Private Equity Firm

Size

Large

PE Assets

4.1B EUR

Established

1994

Specialist/Generalist

Generalist

Leadership

Christian Schmidt-Jacobsen

Managing Partner

Jesper Frydensberg Rasmussen

CFO

Maria Fiorini Lorenzen

Head of Communications

Jesper Breitenstein

Head of Investor Relations

Asbjorn Mosgaard Hyldgaard

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 4.1B EUR under management.

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