Axcel Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Axcel has acquired 8 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) (58%) and secondary buyout (18%). In total, Axcel has invested in 6 different countries.

In the last 3 years, Axcel has exited 7 companies. The Firm’s most common exit type is trade sale (29%). 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 Activity110
    • M&A Buy Activity64
    • M&A Sell Activity46
  • Total Sectors Invested 30
  • Total Countries Invested 6
  • M&A Buy/Sell Connections 22
  • M&A Advisors 5

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 (2.8/yr) # 50 4 3 6 1 - 64
Sell (1.4/yr) # 39 - 1 4 1 1 46
vol $2.7B $388M $3.1B
  110

Most Recent M&A

Company Date Value Type
Nissens A/S 2024-07-10 388M USD Trade Sale
Horsens, Denmark · www.nissens.com
Delete Group Oy 2023-12-05 - Trade Sale
Helsinki, Finland · www.delete.fi
Elcor 2023-09-19 - Buyout (LBO, MBO, MBI)
, Denmark · www.elcor.dk
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
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 (22%) - 9 (14%) -
Consumer Products 2 (11%) - 6 (9%) -
Manufacturing - - 5 (8%) -
Apparel/Textiles - - 4 (6%) -
Building Materials - - 4 (6%) -
Software 2 (11%) - 4 (6%) -
Business Services 1 (6%) - 3 (5%) -
Machinery - - 3 (5%) -
Transportation 1 (6%) - 3 (5%) -
Automotive 1 (6%) - 2 (3%) -
Internet Software and Services 2 (11%) - 2 (3%) -
Agriculture - - 1 (2%) -
Communications - - 1 (2%) -
Construction - - 1 (2%) -
Consumer Services 1 (6%) - 1 (2%) -
Education - - 1 (2%) -
Electrical Equipment 1 (6%) - 1 (2%) -
Electronics - - 1 (2%) -
Energy Services and Equipment - - 1 (2%) -
Environmental - - 1 (2%) -
Financial Services 1 (6%) - 1 (2%) -
Furniture - - 1 (2%) -
Healthcare Services 1 (6%) - 1 (2%) -
Life Science - - 1 (2%) -
Marine - - 1 (2%) -
Medical Products - - 1 (2%) -
Plastics - - 1 (2%) -
Retail - - 1 (2%) -
Staffing 1 (6%) - 1 (2%) -
Technology Hardware - - 1 (2%) -
Total 18 - 64 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
Denmark 13 (72%) - 46 (73%) -
Sweden 4 (22%) - 12 (19%) -
Finland - - 2 (3%) -
Norway 1 (6%) - 1 (2%) -
Belgium - - 1 (2%) -
Slovakia - - 1 (2%) -
Domestic 13 (72%) - 46 (73%) -
Cross-border 5 (28%) - 17 (27%) -
Total 18 - 63 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 5 (28%) - 37 (58%) -
Secondary Buyout 5 (28%) - 11 (17%) -
Growth Capital 5 (28%) - 9 (14%) -
Consolidation 2 (11%) - 3 (5%) -
Divestiture - - 2 (3%) -
Stake Purchase 1 (6%) - 2 (3%) -
Total 18 - 64 -

Exits by Deal Type

Type Total # Value
Secondary Sale 15 (33%) 1.8B (60%)
Trade Sale 13 (28%) -
Trade Sale - Public Company 7 (15%) 1.2B (40%)
Sold to Management 6 (13%) -
Unknown 2 (4%) -
IPO 1 (2%) -
Merger 1 (2%) -
Stake Sale 1 (2%) -
Total 46 $3.1B

Top M&A Advisors

Financial Deals
Deloitte
 2
FIH Partners
 1
Legal Deals
Gorrissen Federspiel Advokatpartnerselskab
 1
Moalem Weitemeyer
 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%
11 (17%)
Strategic(s)
6%
4 (6%)
Exited to
Investor(s)
30%
14 (30%)
Strategic(s)
28%
13 (28%)

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

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 2.0B EUR under management.

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