Axcel, a Copenhagen, Denmark-based private equity firm, completed the first closing of Axcel V with commitments of €352m.
The fund received support from existing and new investors, achieving approximately 65% of the fund’s target of €550m.
Axcel V will follow the same strategy as Axcel IV, namely to invest in leading mid-market companies in Denmark, Sweden and the rest of the Nordic region. These might be family-owned companies needing a partner to implement a growth strategy, companies that need to be developed internationally, or companies that need to focus on and expand their core business.
Founded in 1994 and led by Christian Schmidt-Jacobsen, Managing Partner, and Executive Chairman Christian Frigast, Axcel is a Nordic private equity firm focusing on mid-market companies and has a broad base of both Danish and international investors. To date, the firm has raised four funds with total committed capital of around €1.35m and has made 46 platform investments, over 80 add-on acquisitions and 37 exits.
Axcel currently owns nine companies with combined annual revenue of around €1 billion and some 4,500 employees.