Axcel Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Axcel has acquired 5 companies. It has also invested in 1 other.

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 4 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: Scandinavia

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 (1.8/yr) # 53 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 - Add-on Acquisition
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 Buyout
Copenhagen, Denmark · www.europeanspermbank.com
IT Relation A/S 2022-05-18 - Secondary Buyout
Herning, Denmark · www.itm8.com
AddPro AB 2022-05-18 - Add-on Acquisition
Malmö, Sweden · www.addpro.se
Aidian Oy 2022-02-22 - Secondary Buyout
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

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