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Buyout PE

Axcel

Axcel acquires controlling stakes in established, profitable businesses, from Copenhagen, Denmark. It states a focus on software & internet, healthcare & life sciences, business & professional services and consumer & retail.

Disclosed holdings79
Earliest stated investment
HeadquartersCopenhagen, Denmark
Largest single fundNot stated

Stated investment criteria

What Axcel says it buys

Read from Axcel’s own website in August 2026. This is what the firm says it buys, not what anyone has recorded it buying, and figures are shown in the currency the firm itself used - nothing here is converted. Every line links to the page it was read from.

Transaction typesPlatform, Add-on1
People listed on its team page452

A stated mandate is a firm’s description of itself and was true of the page on the day it was read; firms widen and narrow what they will look at without updating the site. The team figure counts the people the firm shows on one team page, so it is a floor rather than a headcount: firms that split their team across tabs or load it in pages will read low. Nothing here is a commitment by Axcel to consider any particular business, and nothing on this page is represented as being for sale.

Portfolio

Disclosed holdings

Companies Axcel lists on its own website. No investment years are published.

CompanyInvestedYears heldRecorded transaction
AGRD Partners Sweden - 2025
Aalborg Industries
Accru Partners Sweden - 2024
Acurum Group Sweden - 2024
Ball Group
Bb Electronics
Bekaert Handling Group
Bekk Norway - 2026
BullWall Denmark - 2022
Capture One Denmark - 2019
Cimbria
Conscia
Currentum Sweden - 2020
DANX Carousel Group Denmark - 2022
Danish Ship Finance
Delete Group
Driconeq
Edda Group Denmark - 2020
Elcor Denmark - 2023
Ellipse Ddd
Eskoartwork
European Sperm Bank
Exhausto
Foevling
Frontmatec
GUBI Denmark - 2018
Geomatikk Group Norway - 2026
Georg Jensen
Graphx
Guld Marstrand
Huscompaniet
Icopal
Iddesign
Init Denmark - 2022
Isadora
Johan Bauer Education
Junckers Industrier
KapitalKontroll Norway - 2026
Kilroy Travels
Kwintet
LS Retail Iceland - 2025
Laundry Systems Group
Lessor Group
Lgt
Logstor
Loopia
Mita Teknik
Monarflex
Mountain Top
NTI Group Denmark - 2022
Netcompany
Netel
Netest
Nissens
Noa Noa
Nordic Tyre Group Sweden - 2025
Nordic Waterproofing
Oral Care Sweden - 2022
Orion Diagnostica
Pandora
Phase One Denmark - 2019
Progrits
Rationel Vinduer
Royal Copenhagen
Sangro Germany - 2026
Sanviva Denmark - 2026
Silkeborg Data
Steelseries
SuperOffice Norway - 2025
Svenska Foenster
Tcm
The Nutriment Company Premium Pet Food
Thygesen Textile Group
Tvilum Scanbirk
Vest Wood
Vetgruppen
Vital Petfood Group
XPartners Sweden - 2023
whistleblowernetwork.net

Compiled from Axcel’s published portfolio page. Where a recorded transaction is shown, that company was the target of a reported deal and has most likely already been realised. Nothing here is represented as being for sale.

Valuation context

Transaction values in Software & Internet

What companies have actually sold for in software & internet, across 2,672 recorded transactions.

Median consideration$80m
Middle 50%$20m-$250m
Revenue multiple2.2×
EBITDA multiple10.9×

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