News & Press Releases - July 12, 2022

Axcel invests in Oral Care, a leading dental care provider in Sweden and Norway

Oral Care is a leading dental care provider in Sweden and Norway with an unmatched position in the Swedish mobile dental care market and a strong and rapidly growing network of clinics currently comprising 12 in Sweden and two in Norway. Together with the management, Axcel will, inter alia, invest in the organisation and operational backbone of the company to cater for accelerated growth both through operational excellence initiatives and acquisitions.

“We see great opportunities to continue outgrowing the market and improving our business, both in our clinic segment and the mobile dental care segment. Axcel has much relevant experience of successfully driving growth in similar businesses and a deep understanding of the sector. The partnership with Axcel will allow us to pursue a more ambitious growth agenda, both organically and through acquisitions,” says Niclas Palmstierna, CEO of Oral Care.

Founded in Stockholm, Sweden, in 1989, Oral Care pioneered Swedish mobile dental care, which entails treatment of elderly and disabled patients in their own homes, typically nursing homes. Oral Care enjoys a leading position in the mobile dental care market and has gained further market share over the years, resulting in a solid growth track record. In 2015, Oral Care leveraged its leading mobile practice to establish a clinic footprint in Sweden. Since then, the company has expanded its clinic network by acquiring and integrating well-performing clinics in Sweden and Norway.

The dental care market is expected to show continued robust growth supported by strong market trends. Oral Care has an enviable name in the market as a high-quality dental care provider with a proven ability to operate clinics and perform mobile dental care in an efficient manner, a long track record of acquiring and integrating new clinics, and an experienced management team, all of which will allow Oral Care to capitalise on the attractive market dynamics to further accelerate growth going forward.

“Oral Care is a company well known for its high-quality dental care operations and an impressive growth track record in both clinic and mobile dental care. We’re impressed by what the company has achieved and look forward to working with Niclas and the wider Oral Care team to further grow and improve this fine business,” says Thomas Blomqvist, Partner at Axcel and responsible for the investment.

Oral Care was acquired from Nordic-focused private equity firm Accent Equity, the management and other key employees. The management and key employees will continue as significant minority shareholders in Oral Care.

The transaction is subject to customary regulatory approvals and is expected to close in Q3 2022.

About Oral Care
Founded in 1989, Oral Care is a private dental care provider offering general dental care for all ages at clinics in Sweden and Norway and mobile dental care for the elderly in Sweden. Oral Care currently operates 12 clinics in Sweden and two in Norway, growing via acquisitions in both countries. Furthermore, Oral Care is Sweden’s largest private provider of mobile dental care, active in seven counties in central and southern Sweden.

About Axcel
At Axcel, we work hard to create value that lasts long after the exit which requires more than just capital. With our strong focus on leading Nordic companies in the industrials & business services, technology, consumer and healthcare sectors, we create success through a combination of our team’s network and experience paired with a systematic, growth-oriented value creation approach. Over the last 25 years, Axcel has raised six funds with cumulative capital commitments of EUR 2.8 billion. These funds have made/signed 67 platform investments, with more than 150 add-on investments and completed/signed 48 divestments.


Further information

Thomas Blomqvist, Partner
Tel.: +46 709 22 10 49

Christian Schmidt-Jacobsen, Managing Partner
Tel.: +45 21 78 36 97

Oral Care
Niclas Palmstierna, CEO
Tel.: +46 722 50 20 00