Axcel was founded in 1994 by a group of investors from Denmark's largest financial and industrial institutions. Axcel is a Nordic private equity firm focusing on mid-market companies and has a broad base of both Danish and international investors. Axcel has raised four funds with total committed capital of around DKK 10 billion and has made 45 investments along with 80+ significant bolt-on acquisitions.

Sebastian Aarosin

Associate Director


Max Enhörning Admarker

Investment Manager


Gustav Arick-Nielsen

Investment Manager


Daniel Bech

Associate Director


Louise Parsholt Beck

Investor Relations Manager


Thomas Blomqvist



Josef Blomstrand



Christian Bamberger Bro



Frands Brockenhuus-Schack

Investment Manager


Lars Cordt



John Kleven Falck

Investment Manager


Henrik Folkersen

Associate Director


Lærke Rud Hansen



Christian Curtz Henriksen

Associate Director


Stefan Hollander



Asbjørn Mosgaard Hyldgaard



Björn Larsson



Jørgen Lindholm Lau



Tomi Martas

Investment Manager


Christoffer Arthur Müller



Henri Nurmela

Associate Director


Kasper Hoielt Olesen

Associate Director


Katrine Dige Ovesen



Casper Lykke Pedersen



Merle Victoria Price

Investment Manager


Jesper Frydensberg Rasmussen



Caroline Vagner Rosenstand

Associate Director


Christian Schmidt-Jacobsen

Managing Partner


Christian Cederfeld de Simonsen

Investment Manager


Lars Thomassen

CFO and Partner


Jacob Walberg

Associate Director


Marina Wedell-Wedellsborg


20 past transactions


Acquisition in 2013
EG A/S provides IT solutions in Denmark and internationally. The company provides consultancy and programming services. It also develops knowledge based solutions in the form of administrative case work tools for Danish local authorities. The company’s ERP systems include Dynamics AX, Dynamics NAV, Dynamics C5, XAL, Infor M3 (Movex), ASPECT4, and SAP. In addition, it provides business consulting services on business intelligence, budgeting and consolidation, CRM, mobile solutions, organization development, portals and document management, process optimization, and business analytics; and public administration, citizen service, and case management solutions.


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.

Vital Petfood Group

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

ProData Consult A/S

Acquisition in 2021
ProData Consult A/S provides information technology (IT) consulting services to companies in Denmark, Norway, Sweden, Poland, Germany, and the Netherlands. The company was founded in 1994 and is based in Hvidovre, Denmark.

Delete Group Oyj

Acquisition in 2013
Delete specializes in environmental services for industry, construction and real estate clients. The company’s services include industrial cleaning services, heavy and special demolition services as well as recycling and waste management services.


Acquisition in 2020
Protemp provides recruitment and temporary staffing solutions.


Acquisition in 2020
TeamVikaren operates as a temporary staffing agency.


Acquisition in 2016
SFK LEBLANC designs, manufactures, and supplies slaughter lines, cutting and deboning lines, and logistics solutions for the food industry. It offers pig and cattle slaughter solutions; pork and cattle cutting, deboning, and packaging solutions; and related spare parts.

Silkeborg Data A/S

Acquisition in 2015
Silkeborg Data A/S develops payroll and staff administration systems for the public sector.

Gubi A/S

Acquisition in 2018
Gubi A/S engages in designing, manufacturing, and sale of indoor furniture and lamps. It offers products, which include multi-lite pendant brass, gravity floor lamp, gravity table lamp small, beetle dining chair unupholstered, beetle lounge chair fully upholstered, stay ottoman, gubi dining table round marble, bestlite BL1 black brass, TS coffee table square, B-4 table lamp, F.A. 33 wall mirror 54x80 cm, and gubi wall mirror round. The company was founded in 1967 and is based in Copenhagen, Denmark.


Acquisition in 2020
SuperOffice is a European supplier of CRM solutions to the professional business-to-business market. SuperOffice was founded by Une Amundsen in 1990. SuperOffice solutions are delivered and implemented through 100% owned subsidiaries, distributors and value added resellers in Norway, Sweden, Finland, Denmark, Germany, UK, Benelux, Austria, Switzerland, USA, and Japan. SuperOffice also delivers consulting services related to strategic CRM issues, implementation, integration and user education. SuperOffice AS is a privately held company. The company claims that more than 12,000 European companies are using SuperOffice CRM solutions.

F Junckers Industrier AS

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.

Phase One

Acquisition in 2019
Phase One A/S manufactures digital camera systems and workflow software for photographers and advanced amateurs. It offers leaf shutter lenses, focal plane lenses, zoom and specialty lenses, repro camera solutions, aerial cameras systems, and imaging software. The company also provides technical support services. It serves customers through its partners worldwide. The company also sells through its rental shops and as well as online. Phase One A/S was founded in 1993 and is based in Frederiksberg, Denmark with additional offices in Siu Sai Wan, Hong Kong; Melville, New York; Köln, Germany; and Tokyo, Japan.


Acquisition in 2019
SteelSeries makes high performance gaming gear used by the most demanding, professional gamers worldwide and peripherals that provide superior quality and a competitive edge to gamers of all skill levels. What originally began with two people who recognized the need for superior, high-quality/performance gaming gear that would give gamers a competitive edge, has grown into a global leader in gaming and entertainment gear sought after for their high performance capabilities. Fast-forward to today, and they’ve come a long way since their first glass mousepad. They have global offices in North America, Europe, and Asia, providing an integrated portfolio of products designed specifically for gaming. Fueling Their growth is you, the gamer. While they are proud of Their technology and product innovation, They are even more excited about how these products are developed to meet the needs of gamers. Many companies may claim to develop superior gaming products but few actually do. Instead, they spend countless hours with lab engineers trying to force fit a new technology with bells and whistles and mediocre functionality for the end-user. At SteelSeries, they develop their products with a small internal team and a vast network of technology partners, channel partners, game publishers, and gaming communities around the globe. They aren’t afraid of being challenged and implementing new ideas. Their main goal is to always to listen to the collective feedback of Their professional gaming community. They won’t bore you with cheeky slogans, trying to underline their authenticity as gamers. They fully acknowledge that the best professional gamers in the world know more about what they want and what will make them better, than they do. They are proud to be working with their partners, but They can’t take credit for their invaluable input and feedback. Instead They tell it like it is: they help us. They want to know what works and what doesn’t. For this reason, SteelSeries creates innovative solutions that provide a competitive advantage for all gamers. Critical to their company’s success is also their reinvestment in the gaming communities and the individuals who support them. As a result, their corporate philosophy is to take a substantial portion of their revenue and put it back into the gaming community to help spur industry growth. They support their community in numerous ways, ranging from co-hosting tournaments like Iron Lady and King of the Hill, and supporting gaming competitions of all sizes, to promoting the top and up-and-coming gaming teams/organizations. Put simply, SteelSeries does not claim to invent or reinvent the gaming industry. Nor do they focus on one specific product, copy other companies or follow the crowd.


Acquisition in 2013
Netel is a Nordic service provider for communication and electrical networks, offering services ranging from planning and project management to design and maintenance.


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

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.

Orion Diagnostica

Acquisition in 2018
Orion Diagnostica develops, manufactures and markets diagnostic test systems for healthcare professionals. Orion Diagnostica builds well-being by specialising in accurate and affordable clinical diagnostic and hygiene monitoring tests, which are easy to use and provide fast results.

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.


Acquisition in 2020
Moment is an recruitment agency that provides jobs in finance, IT, customer service, warehousing & logistics.