Axcel

Axcel Management A/S is a private equity firm based in Copenhagen, Denmark, established in 1994. Specializing in mid-market investments, Axcel focuses on later-stage, turnaround, and buyout opportunities primarily in the Nordic countries. The firm targets sectors such as industrials, technology, consumer goods, and healthcare. Axcel typically invests in companies with annual revenues ranging from DKK 250 million to DKK 4 billion and an enterprise value between EUR 75 million and EUR 250 million. The firm prefers to take majority stakes in its portfolio companies, often seeking a board seat and aiming for exits within three to seven years. With a broad base of both Danish and international investors, Axcel has raised around DKK 10 billion across multiple funds and has executed 45 investments, complemented by over 80 significant bolt-on acquisitions.

Sebastian Aarosin

Associate Director

Gustav Arick-Nielsen

Investment Manager

Daniel Bech

Director

Ella Berglund

Analyst

Thomas Blomqvist

Partner

Christian Bro

Partner

Frands Brockenhuus-Schack

Associate Director

William Carlheim-Gyllenskiöld

Investment Manager

Lars Cordt

Partner

Nils Elmlund

Investment Manager

John Kleven Falck

Investment Manager

Filip Flenhagen

Associate

Christian Frigast

Chairman

Sonja Gerde

Associate Director

Oscar Freiesleben Hjort

Investment Manager

Asbjørn Mosgaard Hyldgaard

Partner

Julie Klein-Ipsen

Analyst

Björn Larsson

Partner

Tomi Martas

Investment Manager

Nehna Møller-Pettersen

Investment Manager

Henri Nurmela

Director

Kasper Hoielt Xu Olesen

Director

Jesper Frydensberg Rasmussen

CFO

Ruben Henius Rasmussen

Analyst

Christian Schmidt-Jacobsen

Managing Partner

Christian Cederfeld de Simonsen

Associate Director

Victor Emil Theisen

Analyst

Jacob Walberg

Director

20 past transactions

Prodata

Acquisition in 2021
ProData Consult A/S is an IT consulting firm that offers a range of information technology services to businesses across Denmark, Norway, Sweden, Poland, Germany, and the Netherlands. Founded in 1994 and headquartered in Hvidovre, Denmark, the company specializes in providing expert consultancy to help organizations optimize their IT strategies and operations. Through its extensive experience in the field, ProData aims to support clients in achieving their business objectives by enhancing their technological capabilities.

Protemp

Acquisition in 2020
Protemp provides recruitment and temporary staffing solutions.

TeamVikaren

Acquisition in 2020
TeamVikaren operates as a temporary staffing agency.

Moment

Acquisition in 2020
Moment is a recruitment agency that connects young professionals with job opportunities in various sectors, including finance, IT, customer service, and warehousing and logistics. The agency operates an information technology platform that features a freelance portal, allowing companies to recruit students for short- or long-term tasks. This platform facilitates easy access for candidates seeking employment across different industries and professional areas, streamlining the job search process while meeting the staffing needs of employers nationwide.

SuperOffice

Acquisition in 2020
SuperOffice is a European provider of customer relationship management (CRM) solutions, established in 1990 by Une Amundsen. The company specializes in serving the professional business-to-business market and offers a comprehensive CRM platform that includes sales and marketing tools, ticket management, and intelligent customer service features such as auto-replies and reply templates. SuperOffice's solutions are implemented through its subsidiaries, distributors, and value-added resellers across multiple countries, including Norway, Sweden, Finland, Denmark, Germany, the UK, and the USA. With a client base of over 12,000 European companies, SuperOffice emphasizes the importance of strong customer relationships, leveraging integrations, customizations, and automation to enhance productivity and create positive customer experiences. Additionally, the company provides consulting services related to strategic CRM implementation and user education.

SteelSeries

Acquisition in 2019
SteelSeries is a leading manufacturer of high-performance gaming peripherals tailored for eSports enthusiasts and competitive gamers. Established by two individuals recognizing the need for superior gaming gear, the company has evolved from its origins with a glass mousepad to a global presence with offices across North America, Europe, and Asia. Its product range includes headsets, mice, keyboards, mousepads, and various gaming accessories, all developed through extensive collaboration with professional gamers and a network of technology partners. SteelSeries places a strong emphasis on innovation and user experience, ensuring that its products meet the actual needs of gamers rather than just incorporating flashy technology. The company is committed to reinvesting a significant portion of its revenue back into the gaming community, supporting tournaments and promoting both established and emerging gaming teams. By prioritizing feedback from gamers, SteelSeries aims to create solutions that provide a competitive edge, reflecting its dedication to the gaming industry rather than merely following trends.

Phase One A/S

Acquisition in 2019
Phase One A/S specializes in the manufacturing of digital camera systems and workflow software tailored for professional photographers and advanced enthusiasts. The company offers a diverse range of products, including leaf shutter lenses, focal plane lenses, zoom and specialty lenses, as well as aerial camera systems and imaging software. Additionally, Phase One provides technical support services and sells its products through a network of partners globally, including rental shops and online platforms. Founded in 1993 and headquartered in Frederiksberg, Denmark, Phase One A/S has established offices in various locations, including Hong Kong, New York, Germany, and Japan. The company is recognized for its open-platform medium format camera systems that prioritize image quality and investment value, along with its Capture One software, which enhances the capture and post-production processes for photographers.

Gubi

Acquisition in 2018
Gubi A/S specializes in the design, manufacture, and sale of indoor furniture and lighting. Established in 1967 in Copenhagen, Denmark, the company offers a diverse range of products, including various lighting fixtures, dining chairs, tables, and mirrors. Gubi caters to both consumers and the professional market, supplying items to retailers, offices, hotels, and restaurants. The brand is known for its contemporary designs that provide alternatives to traditional home decor, making it a notable entity in the interior design industry.

Orion Diagnostica

Acquisition in 2018
Orion Diagnostica Oy specializes in the development and manufacture of diagnostic test systems, focusing on infectious diseases, bone and soft tissue metabolism disorders, and hygiene monitoring. The company offers a range of products including QuikRead go, a point-of-care system for diagnosis and treatment management; QuikRead, a multi-analyte diagnostic tool; and Orion GenRead, a benchtop solution with ready-to-use kits. It also provides Cultura M, a portable incubator for on-site culture tests, and Easicult, a culture test for detecting microbes in industrial fluids. Other offerings include Hygicult, Clean Card PRO for hygiene monitoring, UniQ Collagen assays for measuring bone turnover, and Uricult for diagnosing urinary tract infections. Orion Diagnostica serves a diverse clientele, including healthcare professionals, hospitals, clinics, and the food processing sector, both in Finland and internationally. Founded in 1974, the company is headquartered in Espoo, Finland, with offices in several European countries.

SFK Leblanc

Acquisition in 2016
SFK Leblanc, based in Kolding, Denmark, specializes in designing, manufacturing, and supplying equipment for the food industry. The company provides comprehensive solutions for slaughtering pigs and cattle, as well as cutting, deboning, and packaging these products. In addition to its primary offerings, SFK Leblanc also supplies related spare parts and logistics solutions, catering to various operational needs within the food production sector.

Lessor Group

Acquisition in 2016
Lessor Group is a provider of payroll and human capital management (HCM) software solutions. Founded by the Fich family in 1972 and led by CEO Henrik Fich, Lessor Group provides small, medium-sized and large companies with IT solutions for payroll, time and attendance, shift scheduling and HR. Today, more than 45,000 Danish and 1,500 international companies use the Group’s solutions.

Silkeborg Data

Acquisition in 2015
Silkeborg Data A/S is a Denmark-based company specializing in the development of payroll and staff administration systems, primarily targeting the public sector. Located in Aarhus, the firm offers comprehensive human resource management services, focusing on efficient personnel administration. By providing tailored solutions, Silkeborg Data aims to streamline HR processes for public organizations, ensuring effective management of employee-related functions.

Conscia A/S

Acquisition in 2015
Conscia A/S is supplies IT infrastructure solutions and 24/7 network, data centre and mobility support.Headquartered in Denmark, the company has also moved into Sweden this year through the acquisition of Netsafe International AB. Conscia builds it infrastructure and offers 24/7 services for Network, Data Center, Security and Mobility. In close cooperation with their customers they focus on getting the biggest benefits from the newest technologies. They strive to be the highest skilled within their area of expertise, and they combine deep professional knowledge with an attitude centered on completing every project successfully and maintaining fast and efficient task completion. Conscia’s expertise and unique service offering ensure continuous development and stable operations for their customers. They are ambitious and hold high standards, and they actively work on creating the best possible work environment for their employees.

Delete

Acquisition in 2013
Delete Oy is a provider of environmental services operating primarily in the Nordic countries, with a focus on the industrial, construction, and real estate sectors. Founded in 2010 and headquartered in Helsinki, Finland, the company offers a wide range of services including industrial cleaning, heavy demolition, flood and fire damage repairs, construction, and property life cycle management. Its capabilities extend to high-power vacuuming, waste management, recycling, and specialized inspections for hazardous materials and indoor air quality. Delete Oy serves various clients, leveraging specialized equipment and expertise to meet diverse needs. The company was formerly known as Delete Group Oy and rebranded in 2018.

EG A/S

Acquisition in 2013
EG A/S is a provider of IT solutions based in Denmark, offering services both domestically and internationally. The company specializes in consultancy and programming, as well as the development of knowledge-based solutions, particularly for Danish local authorities. It delivers a range of enterprise resource planning (ERP) systems, including popular platforms such as Dynamics AX, Dynamics NAV, and SAP. Additionally, EG A/S offers comprehensive business consulting services that encompass business intelligence, budgeting, CRM, and process optimization. The company also focuses on public administration and citizen service solutions, developing subscription-based, industry-specific cloud services to support customers across various sectors, including manufacturing, construction, retail, and public services.

Netel

Acquisition in 2013
Netel Group AB is a Nordic service provider specializing in the planning, development, and maintenance of communication and electrical infrastructures. The company offers a comprehensive range of services, including project management, permit management, construction, installation, commissioning, and integration specifically tailored for telecom operators and system suppliers. Additionally, Netel provides planning and installation services for urban communication networks and broadband access in residential buildings, catering to network owners, cooperative housing associations, and municipal housing providers. The company also focuses on the preparation and construction of electrical distribution networks for various stakeholders, such as property owners and building contractors, while offering ongoing maintenance and support for both communication and electrical systems. Established in 2000, Netel is headquartered in Stockholm, Sweden.

Cimbria

Acquisition in 2011
Cimbria, a Thisted, Denmark-based manufacturer of equipment for handling and processing of grain and seed products. Cimbria designs, develops, manufactures and installs custom-built solutions such as single machines, complete processing lines and large turnkey projects with advanced automation and management information systems for the different types of crop treatment – as well as the treatment of powders and granules.

Junckers

Acquisition in 2004
F. Junckers Industrier A/S, together with its subsidiaries, manufactures and sells solid wood flooring products in Europe, North America, South America, Asia, the Middle East, and Africa. It provides floor solutions for sports and dance, and commercial and housing project applications. It also offers wood care products, such as lacquers and oils, and cleaners, as well as related services. The company supplies its products to individuals, businesses, and sports halls. The company was founded in 1930 and is headquartered in Køge, Denmark. F. Junckers Industrier A/S is a subsidiary of Junckers Holding A/S.

Vital Petfood Group

Acquisition in 2000
Vital Petfood Group (VPG) is one of the companies in the pet food industry in Scandinavia.

Kwintet

Private Equity Round in 1999
Kwintet is a manufacturer of workwear, corporate wear and personal protective equipment.
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