News & Press Releases - June 13, 2023

Axcel partners with Swedish software group Progrits

Axcel strengthens its position in the Nordic tech space by acquiring leading Swedish software group Progrits.

Progrits is a Swedish-based leading vertical software company consisting of ten businesses that develop and deliver mission-critical software and information services within transport and logistics, vehicle digital solutions and integrated e-commerce. The B2B software company simplifies and automates customer information handling and workflows for approximately 5,000 Nordic and international customers. The group is headquartered in Gothenburg and employs around 200 people, half of whom are software engineers.

“Progrits is a great fit with Axcel, allowing us to build on our successes and competences within the tech space,” says Björn Larsson, Partner at Axcel. “Progrits is a leader in select niches with strong local positions and customer relationships. The company has mission-critical software, a scalable platform for further growth and a strong management team who we’re really looking forward to partnering with.”

Ambitious growth agenda
Under Axcel’s ownership, Progrits will pursue an ambitious growth agenda. Progrits’ business units will continue to operate under strong local leadership and benefit significantly from being part of a group that is greater than the sum of its parts.

“We’re excited to partner with Axcel, which has a proven track record of accelerating growth in companies like ours and deep expertise within the tech sector,” says Björn Ekström, CEO of Progrits. “We’ll continue to expand the company, both in Sweden and internationally, and build a strong group together.”

Strong Nordic tech presence
With the investment in Progrits, Axcel is further strengthening its Nordic tech presence. Axcel is also a current majority investor in Loopia, SuperOffice, itm8, BullWall, Init, NTI, emagine and Phase One. Previously, Axcel has successfully exited investments in EG, Conscia, SteelSeries and other companies.

Progrits is the second investment of Axcel Fund VII. Progrits’ management team will remain in place under the new ownership and will be reinvesting alongside Axcel.

About Progrits
Established by Eterna Invest in 2011, Progrits is a leading vertical software and information services company within B2B. Progrits develops and delivers mission-critical software and information services within transport and logistics, vehicle digital solutions and integrated e-commerce. With 200 employees, approximately 5,000 Nordic and international customers, and revenue of more than SEK 300 million in 2022, Progrits’ focus is to deliver products and solutions that simplify and automate the work of its customers and their organisations. For more information, visit

About Axcel
Founded in 1994, Axcel is a Nordic private equity firm focusing on mid-market companies within four sectors: technology, business services & industrials, healthcare and consumer. Axcel accelerates value creation in its 20 companies by leveraging the firm’s experience and expertise in commercial excellence, buy & build, digitalisation and sustainability. Axcel has raised six funds with total committed capital of EUR 2.8 billion from both Nordic and international investors and is in the process of raising its seventh fund. These funds have made 69 platform investments, with well over 200 add-on investments and 49 exits. For more information, visit

For further information, contact:

Björn Larsson, Partner
Tel.: +46 702746200

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

Maria Fiorini Lorenzen, Head of Communications
Tel. : +45 22273676
E-mail :

Björn Ekström, CEO
Tel.: +46 706950535