DFX Intelligence
Private Equity Intelligence
Firms, funds, people, portfolio companies and transactions from sworn filings and cited announcements, kept as a graph with a date and a source on every edge. Reported gross assets are never fund size, regulatory AUM is never dry powder, and a deal value prints only when someone disclosed it.
Firms / Axcel Management A/s
Axcel Management A/s
Founded in the Nordics, Axcel is a leading private equity firm investing across Northern Europe, with a focus on four sectors: Technology, Business Services & Industrials, Healthcare and Consumer.
Classification
- Class
- Buyout firmprobable, confidence 80%
- Basis
- own website statement
- Size band
- Lower middle marketdefined by: proxy: $0.72bn Private Equity Fund GAV on the Form ADV filed 2024-03-21
Classification history (4)
- Sep 16, 2026Buyout firm (probable, 80%, cls-pe-2)own website statement“Founded in the Nordics, Axcel is a leading private equity firm investing across Northern Europe, with a focus on four sectors: Technology, Business Services & Industrials, Healthcare and Consumer.”axcel.com
- Sep 16, 2026Buyout firm (probable, 80%, cls-pe-2)own website statement“Founded in the Nordics, Axcel is a leading private equity firm investing across Northern Europe, with a focus on four sectors: Technology, Business Services & Industrials, Healthcare and Consumer.”axcel.com
- Sep 14, 2026Hybrid manager (probable, 65%, cls-pe-2)R4: Private Equity Funds are 0 of 1 distinct vehicles; hedge, securitized or liquidity vehicles 0
- Sep 13, 2026Buyout firm (confirmed, 85%, cls-pe-1)R6: 7 of 7 distinct vehicles are sworn Private Equity Funds; 6 reported gross assets on a filing in 2022 or later
Regulatory footprint (Form ADV)
- Adviser type
- exempt reporting adviser
- Form ADV filings
- Apr 17, 2020 to Mar 21, 2024
- RAUM
- unknownregulatory assets under management of the adviser; not dry powder, not a fund size
- PE funds, latest filing
- 5
- PE fund GAV, latest filing
- $720Mreported gross assets (Form ADV), not fund size
- All private fund GAV
- $720Mevery private fund type, latest filing
- 2024 PE fund GAV
- $720Msum over funds typed Private Equity Fund with a 2024 or later as-of date
- PE share of funds, lifetime
- 100%
- Fund type mix
- filed 2024-03-21, latest gav Private Equity Fund $720M, latest counts Private Equity Fund 5, lifetime distinct Private Equity Fund 7
- Employees
- unknown
- Headquarters
- Copenhagen C, Denmark
- Office address
- SANKT ANNAE PLADS 10, Copenhagen C, 1250
- Business phone
- +45 33 36 69 96
Stated criteria beside observed behaviour
73 observed deals
Stated by the firm
- Sectors
- business services, industrials, healthcare, technology, consumer, distribution
- Geography
- Europe
- Revenue
- not stated or not yet read
- EBITDA
- not stated or not yet read
- Enterprise value
- not stated or not yet read
- Equity check
- not stated or not yet read
- Control
- not stated or not yet read
- Thesis
- We recognise that profit and positive impact are intrinsically linked and therefore we believe every lasting transformation we make should result in a positive change for society and the environment.
Observed from deals on record
- roles
- add on 3, unknown 67, platform 17
- period
- to 2026-03-31, from 2019-04-23, undated holdings 70, dated observations 34
- window
- last 2026-03-31, first 2019-04-23
- control
- control 17, unknown 70
- companies
- 73
- geography
- investments
- 87
- seller kinds
- founder 3, unknown 1, corporate parent 1
- transactions
- 17
- cadence by year
- 2019 add ons 3, other deals 1, 2021 platforms 3, 2022 platforms 4, 2023 platforms 3, 2026 platforms 3
- platform add on
- add ons 3, platforms 17, add ons per platform 0.18
- sector known for
- 8
- disclosed value usd
- n 0
- sector distribution
- count 4, share 0.055, value software, examples Swedish software group Progrits, Movement Software Sweden, Movement Software Technology Sweden, BullWall, count 2, share 0.027, value tech enabled services, examples Geomatikk, Planeetta Internet Oy, count 1, share 0.014, value transportation logistics, examples GmbH, count 1, share 0.014, value industrial manufacturing, examples NTI Group
- holding period years
- n 0
- repeat counterparties
- subsector distribution
- count 4, share 0.055, value software, examples Swedish software group Progrits, Movement Software Sweden, Movement Software Technology Sweden, BullWall, count 1, share 0.014, value freight forwarding brokerage, examples GmbH, count 1, share 0.014, value iot connectivity services, examples Geomatikk, count 1, share 0.014, value miscellaneous manufacturing, examples NTI Group, count 1, share 0.014, value data processing hosting, examples Planeetta Internet Oy
73 companies on the graph (17 transactions); most in software (4); 17 platforms and 3 add-ons; observed 2019 to 2026
Funds
9 on record
| Fund | Vehicle | Vintage | Reported gross assets (Form ADV), not fund size | GAV by year | Form D sold | Lifecycle |
|---|---|---|---|---|---|---|
| Axcel VII K/s ADV: Private Equity Fund | buyout or unlabelled | 2024 first reported on Form ADV | $116M as of Mar 21, 2024 | no Form D | Unknown | |
| Axcel VII K/s 2 ADV: Private Equity Fund | buyout or unlabelled | 2024 first reported on Form ADV | $40.3M as of Mar 21, 2024 | no Form D | Unknown | |
| Axcel VI K/s 2 ADV: Private Equity Fund | buyout or unlabelled | 2021 first reported on Form ADV | $484M as of Mar 21, 2024 | no Form D | Unknown | |
| Axcel VI K/s ADV: Private Equity Fund | buyout or unlabelled | unknown | $557M as of Apr 17, 2020 | no Form D | Wound down | |
| Axcel IV K/s 2 ADV: Private Equity Fund | buyout or unlabelled | unknown | $75.5M as of Mar 21, 2024 | no Form D | Mature | |
| Axcel V K/s 2 ADV: Private Equity Fund | buyout or unlabelled | unknown | $4.2M as of Mar 21, 2024 | no Form D | Mature | |
| Axcel III K/s 1 ADV: Private Equity Fund | buyout or unlabelled | unknown | $3.5M as of Mar 30, 2022 | no Form D | Wound down | |
| Axcel VIII | buyout or unlabelled | unknown | unknown | no reporting | no Form D | Unknown |
| Axcel Elevate Fund I | buyout or unlabelled | unknown | unknown | no reporting | no Form D | Unknown |
Team
50 current, 0 former
Managing partner (2)
- Christian Bamberger Bro · Managing Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Christian Schmidt-Jacobsen · Managing Partner · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
Partner (15)
- Armin Besic · Valuation & Data Manager · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Christian Schmidt-Jacobsen · Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Ella Berglund · Investment Manager · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Emelie Zhao · Investment Manager · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Filip Flenhagen · Investment Manager · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Frederik Holm Andersen · Investment Manager · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Henrik Nyberg · Investment Manager · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Jacob Drakenberg Walberg · Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Jan-Nicolas Garbe · Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Kasper Olesen · Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Lars Cordt · Partner · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- Lars Cordt · Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Thomas Blomqvist · Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Thomas Blomqvist · Partner · start date unknown Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- Victor Frederik Valentin Rasmussen · Investment Manager · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Principal (12)
- Caroline Lundgaard · Director · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Christian Cederfeld de Simonsen · Director · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Felix Thelen · Associate Director · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Frands Brockenhuus-Schack · Associate Director · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Gustav Arick-Nielsen · Associate Director · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Henri Nurmela · Director · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Johannes Benzing · Director · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- John Falck · Associate Director · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Nils Elmlund · Associate Director · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Oscar Freiesleben Hjort · Associate Director · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Sebastian Aarosin · Director · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Sonja Gerde · Director · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Associate (2)
- Hans Fechner · Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Victor Emil Theisen · Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Analyst (4)
- Felicia Magnusson Stillgren · Analyst · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Lovisa Berglund · Analyst · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Thomas Pedersen · Analyst · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Victor Balle Andersen · Analyst · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Investor relations (3)
- Emma Vase · Investor Relations Manager · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Jesper Breitenstein · Head of Investor Relations · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Oskar Kruse Andersen · Investor Relations Analyst · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Platform (10)
- Cille Walsted Thomassen · Receptionist & Executive Assistant · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Ekaterina Yaltykova · Senior Fund Controller · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Grit Heintze · Accounting Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Hanna Lindberg · Executive Assistant · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Jesper Frydensberg Rasmussen · Cfo · since Sep 1, 2021 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- Jesper Frydensberg Rasmussen · CFO · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Maria Fiorini Lorenzen · Head of Communications · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Mathilde Hylleberg Andersen · Head of Compliance and Legal · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Nadine Michel · Executive Assistant & Office Manager · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Sarah Hempel · Head of Sustainability · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Other (2)
- Pia Barlebo · Head of Office Support · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Tom Liljefors · Head of Tech & AI · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Portfolio
87 relationships, 17 platforms, 3 add-ons
Transactions
25 on record
| Date | Type | Target | This firm’s role | Source |
|---|---|---|---|---|
| Mar 31, 2026 | Platform acquisition | Geomatikk | Sponsor (confirmed) | hgcapital.com |
| Mar 3, 2026 | Platform acquisition | GmbH | Sponsor (confirmed) | axcel.com |
| Mar 3, 2026 | Platform acquisition | GmbH | Sponsor (confirmed) | axcel.com |
| Aug 15, 2025 | Add-on acquisition | Accelebrate | Platform (confirmed) | alpineinvestors.com |
| Jul 10, 2024 | Exit to a strategic buyer | Nissens Automotive | Seller (confirmed) | axcel.com |
| Jul 10, 2024 | Exit to a strategic buyer | Nissens Automotive | Seller (confirmed) | axcel.com |
| Jul 10, 2024 | Exit to a strategic buyer | Nissens Automotive | Seller (confirmed) | axcel.com |
| Oct 17, 2023 | Exit to a strategic buyer | Mountain Top | Seller (confirmed) | axcel.com |
| Oct 17, 2023 | Exit to a strategic buyer | Mountain Top | Seller (confirmed) | axcel.com |
| Oct 17, 2023 | Exit to a strategic buyer | Mountain Top | Seller (confirmed) | axcel.com |
| Jun 13, 2023 | Platform acquisition | Swedish software group Progrits | Sponsor (confirmed) | axcel.com |
| Jun 13, 2023 | Platform acquisition | Swedish software group Progrits | Sponsor (confirmed) | axcel.com |
| Jun 13, 2023 | Platform acquisition | Swedish software group Progrits | Sponsor (confirmed) | axcel.com |
| Jan 17, 2023 | Add-on acquisition | EduMind | Platform (confirmed) | alpineinvestors.com |
| Jul 13, 2022 | Platform acquisition | Voff Premium Pet Food | Sponsor (confirmed) | axcel.com |
| Jul 13, 2022 | Platform acquisition | Voff Premium Pet Food | Sponsor (confirmed) | axcel.com |
| Jul 13, 2022 | Platform acquisition | Voff Premium Pet Food | Sponsor (confirmed) | axcel.com |
| Jun 27, 2022 | Platform acquisition | NTI Group | Sponsor (confirmed) | axcel.com |
| Dec 21, 2021 | Platform acquisition | BullWall | Sponsor (confirmed) | axcel.com |
| Dec 21, 2021 | Platform acquisition | BullWall | Sponsor (confirmed) | axcel.com |
| Dec 21, 2021 | Platform acquisition | BullWall | Sponsor (confirmed) | axcel.com |
| Nov 21, 2019 | Add-on acquisition | Planeetta Internet Oy | Sponsor (confirmed) | axcel.com |
| Nov 21, 2019 | Add-on acquisition | Planeetta Internet Oy | Sponsor (confirmed) | axcel.com |
| Nov 21, 2019 | Add-on acquisition | Planeetta Internet Oy | Sponsor (confirmed) | axcel.com |
| Apr 23, 2019 | Carve-out | Finnish | Sponsor (confirmed) | axcel.com |
Placement agents, lenders, advisers and co-investors
1 relationships
Placement agents (1)
- Mvision Private Equity Advisers Limited 2 shared · recurring · last Jan 1, 2021
LP commitments
0 disclosed
No LP commitment collected yet. An LP edge needs a public disclosure with a quote, such as a pension plan’s report or an announcement naming the LP.
Events
60 most recent
- Sep 16, 2026Axcel closes oversubscribed eighth mid-market fund at EUR 2.1 billion
- Sep 1, 2026September 1st 2026 Axcel closes oversubscribed eighth mid-market fund at EUR 2.1 billion
- Jun 2, 2026June 2nd 2026 Axcel invests in Sanviva, a European medical device distribution network
- Mar 31, 2026March 31st 2026 Axcel invests in Norwegian technology and services company Geomatikk Group
- Mar 31, 2026Axcel agrees to acquire Geomatikk from Hg
- Mar 11, 2026Axcel Management A/s: Private Equity Funds on Form ADV 5 (2024 extract) -> 8 (roster 2026-09-01)
- Mar 3, 2026Axcel partners with homecare distributor sangro in its first platform investment in GermanyPlatform investmentFactGmbHPress release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- Mar 3, 2026Axcel partners with homecare distributor sangro in its first platform investment in GermanyPlatform investmentFactGmbHPress release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- Mar 3, 2026March 3rd 2026 Axcel backs Norwegian fintech company KapitalKontroll in first Elevate I investment
- Mar 3, 2026March 3rd 2026 Axcel partners with homecare distributor sangro in its first platform investment in Germany
- Feb 6, 2026February 6th 2026 Christian Bamberger Bro becomes Managing Partner as Axcel completes leadership transition
- Dec 9, 2025December 9th 2025 Axcel partners with LS Retail, a global software leader in retail and hospitality
- Dec 1, 2025December 1st 2025 Axcel partners with Bekk, a leading Norwegian technology and management consultancy
- Nov 28, 2025November 28th 2025 Axcel closes Elevate Fund I at EUR 459m hard cap following strong investor demand
- Aug 15, 2025Axcel Partners with Accelebrate ATLANTA & SAN FRANCISCO–Axcel, a professional education business backed by Alpine Investors that is focused on buying, buildi...
- Jun 3, 2025June 3rd 2025 Axcel extends SuperOffice partnership with launch of continuation fund
- Feb 19, 2025February 19th 2025 Oral Care partners with De Tandartsengroep to create a quality-focused dental care group in Northern Europe
- Dec 20, 2024December 20th 2024 Axcel partners with Nordic Tyre Group to support its continued growth journey
- Oct 31, 2024October 31st 2024 Axcel expands into Germany and appoints Jan-Nicolas Garbe to lead Frankfurt office
- Jul 10, 2024Axcel sells Nissens Automotive to Standard Motor Products
- Jul 10, 2024Axcel sells Nissens Automotive to Standard Motor Products
- Jul 10, 2024Axcel sells Nissens Automotive to Standard Motor Products
- Jul 10, 2024July 10th 2024 Axcel sells Nissens Automotive to Standard Motor Products
- May 23, 2024May 23rd 2024 Axcel sells Loopia Group to team.blue
- Mar 6, 2024Axcel closes oversubscribed seventh fund, Axcel VII, at EUR 1.3 billion hard cap
- Mar 6, 2024March 6th 2024 Axcel closes oversubscribed seventh fund, Axcel VII, at EUR 1.3 billion hard cap
- Oct 17, 2023Axcel sells Mountain Top to RealTruck
- Oct 17, 2023Axcel sells Mountain Top to RealTruck
- Oct 17, 2023Axcel sells Mountain Top to RealTruck
- Oct 17, 2023October 17th 2023 Axcel sells Mountain Top to RealTruck
- Jun 13, 2023Axcel partners with Swedish software group Progrits
- Jun 13, 2023Axcel partners with Swedish software group Progrits
- Jun 13, 2023Axcel partners with Swedish software group Progrits
- Jun 13, 2023June 13th 2023 Axcel partners with Swedish software group Progrits
- May 12, 2023May 12th 2023 Axcel sells Delete Group to REMONDIS
- Jan 17, 2023Axcel Partners with EduMind DUBLIN, Ohio & SAN FRANCISCO—Axcel, a professional education business backed by Alpine Investors (Alpine) and specializing in buyin...
- Jul 13, 2022Axcel partners with Voff to create a European market leader within premium natural pet food
- Jul 13, 2022Axcel partners with Voff to create a European market leader within premium natural pet food
- Jul 13, 2022Axcel partners with Voff to create a European market leader within premium natural pet food
- Jul 13, 2022July 13th 2022 Axcel partners with Voff to create a European market leader within premium natural pet food
- Jul 12, 2022July 12th 2022 Axcel invests in Oral Care, a leading dental care provider in Sweden and Norway
- Jun 27, 2022Axcel invests in NTI Group
- Jun 27, 2022June 27th 2022 Axcel invests in NTI Group
- Jun 8, 2022June 8th 2022 Axcel sells European Sperm Bank to Perwyn
- May 18, 2022Axcel closes oversubscribed eighth mid-market fund at EUR 2.1 billion
- Feb 22, 2022February 22nd 2022 Axcel sells Aidian to Nordstjernan
- Jan 21, 2022January 21st 2022 Axcel sells Swedish Isadora to investor consortium
- Jan 12, 2022January 12th 2022 Axcel acquires DANX and Carousel to create a strong pan-European in-night logistics provider
- Jan 6, 2022January 6th 2022 Axcel partners with Picca Automation to create a leading Nordic industrial automation partner
- Dec 21, 2021Axcel invests in BullWall, a leading ransomware protection software providerPlatform investmentFactBullWallPress release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- Dec 21, 2021Axcel invests in BullWall, a leading ransomware protection software providerPlatform investmentFactBullWallPress release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- Dec 21, 2021Axcel invests in BullWall, a leading ransomware protection software providerPlatform investmentFactBullWallPress release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)
- Dec 21, 2021December 21st 2021 Axcel invests in BullWall, a leading ransomware protection software provider
- Nov 23, 2021November 23rd 2021 Axcel appoints new members of the Advisory Board and new CFO
- Sep 1, 2021September 1st 2021 ProData Consult to acquire French emagine Group to create the leading European provider of high-end business and IT consultants
- Aug 24, 2021Axcel VI successfully closes at the EUR 800 million hard cap
- Aug 24, 2021August 24th 2021 Axcel VI successfully closes at the EUR 800 million hard cap
- Jul 19, 2021July 19th 2021 Axcel sells Nissens Cooling Solutions to A.P. Moller Holding
- Jul 1, 2021July 1st 2021 Axcel invests in ProData, a leading Northern European talent-centric provider of IT consultants
- Jun 17, 2021June 17th 2021 Axcel partners with VetGruppen and its founders