Judge us by what we leave behind

We work hard to create healthy, growing businesses, both in order to secure strong return for our investors, but also because we know that a healthy growing business can be a force of good in the world.

Judge us by what we leave behind

We work hard to create healthy, growing businesses, both in order to secure strong return for our investors, but also because we know that a healthy growing business can be a force of good in the world.

Axcel VI

Axcel V

Axcel IV

Axcel III

Axcel II

Axcel I

Axcel VI

Axcel VI was raised in 2020 as a standard private equity limited partnership focusing on the Nordic mid-market. The fund held final close in 2021 with total committed capital amounts to EUR 807m and the fund is actively investing. No activities related to the marketing, solicitation or offering of new partnership interests in Axcel VI have been carried out after final closing.

Start-up year

2020

Investment status

Investment period

Geographical focus

Nordic

Investments

9

Legal structure

limited

Average ownership (years)

0.4

Investors by type

Investors by region

Companies

Company

Country

Invested

Exit

Fund

Denmark

2022

Axcel VI

Denmark

2022

Axcel VI

Denmark

2022

Axcel VI

Denmark

2021

Axcel VI

Denmark

2021

Axcel VI

Norway

2020

Axcel VI

Sweden

2020

Axcel VI

Sweden

2020

Axcel VI

Denmark

2020

Axcel VI

Axcel V

Axcel V was raised in 2017 as a standard private equity limited partnership focusing on the Nordic mid-market. The fund was closed at the beginning of 2018 with EUR 617 million in committed capital. No activities related to the marketing, solicitation or offering of new partnership interests in Axcel V have been carried out after final closing. The fund has invested in Nissens, Mountain Top, IsaDora, Aidian (Orion Diagnostica), GUBI, Loopia, European Sperm Bank, Phase One and SteelSeries.

Start-up year

2017

Investment status

Realisation period

Geographical focus

Nordics

Investments

9

Legal structure

limited

Average ownership (years)

2.4

Investors by type

Investors by region

Companies

Company

Country

Invested

Exit

Fund

Denmark

2019

Axcel V

SteelSeries

Denmark

2019

2022

Axcel V

Denmark

2019

Axcel V

IsaDora

Sweden

2018

2022

Axcel V

Sweden

2018

Axcel V

Denmark

2018

Axcel V

Aidian

Finland

2018

2022

Axcel V

Denmark

2017

Axcel V

Denmark

2017

Axcel V

Axcel IV

Axcel IV was raised in 2010 as a standard private equity limited partnership focusing on the Nordics mid-market.The fund has committed capital of DKK 3.6 billion (EUR 485 million) and has invested in 12 companies.

Start-up year

2010

Investment status

Realisation period

Geographical focus

Nordics

Investments

12

Legal structure

limited

Average ownership (years)

4.3

Investors by type

Investors by region

Companies

Company

Country

Invested

Exit

Fund

Denmark

2016

Axcel IV

LESSOR Group

Denmark

2016

2018

Axcel IV

Danmark

2016

Axcel IV

Conscia

Denmark

2015

2019

Axcel IV

EG

Denmark

2013

2019

Axcel IV

Finland

2013

Axcel IV

EXHAUSTO

Denmark

2013

2016

Axcel IV

Netel

Sweden

2013

2016

Axcel IV

Silkeborg Data

Denmark

2013

2015

Axcel IV

Mita-Teknik

Denmark

2012

2019

Axcel IV

Nordic Waterproofing

Sweden

2011

2017

Axcel IV

Cimbria

Denmark

2011

2013

Axcel IV

Axcel III

Axcel III was raised in 2005 as a standard private equity limited partnership focusing on the Danish and Swedish mid-market.The fund had committed capital of DKK 3.0 billion (EUR 400 million) and invested in 11 companies between 2005 and 2009.

Start-up year

2005

Investment status

Fully realised

Geographical focus

Denmark / Sweden

Investments

11

Legal structure

limited

Average ownership (years)

7.1

Investors by type

Investors by region

Companies

Company

Country

Invested

Exit

Fund

LGT

Sweden

2009

2015

Axcel III

PANDORA

Denmark

2008

2014

Axcel III

Johan Bauer Education

Sweden

2008

2013

Axcel III

Driconeq

Sweden

2007

2018

Axcel III

Noa Noa

Denmark

2007

2014

Axcel III

IDdesign

Denmark

2007

2014

Axcel III

Ball Group

Denmark

2007

2019

Axcel III

TCM Group

Denmark

2006

2015

Axcel III

HusCompaniet

Denmark

2006

2011

Axcel III

Netcompany

Denmark

2006

2011

Axcel III

EskoArtwork

Belgium

2005

2011

Axcel III

Axcel II

Axcel II was formed in 2000 as a limited company and had committed capital of DKK 2.5 billion.

Start-up year

2000

Investment status

Closed

Geographical focus

Denmark

Investments

10

Legal structure

stock

Average ownership (years)

7.7

Investors by type

Investors by region

Companies

Company

Country

Invested

Exit

Fund

Junckers Industrier

Denmark

2004

2014

Axcel II

Ellipse (DDD)

Denmark

2004

2010

Axcel II

NetTest

Denmark

2002

2005

Axcel II

Vest Wood

Denmark

2002

2005

Axcel II

Royal Copenhagen

Denmark

2001

2012

Axcel II

Georg Jensen

Denmark

2001

2012

Axcel II

Glud & Marstrand

Denmark

2001

2005

Axcel II

Vital Petfood Group

Denmark

2000

2014

Axcel II

Icopal

Denmark

2000

2007

Axcel II

Aalborg Industries

Denmark

2000

2005

Axcel II

Axcel I

Axcel I was founded in 1994 as an evergreen fund with committed capital of DKK 1.1 billion (EUR 148 million).

Start-up year

1994

Investment status

Closed

Geographical focus

Denmark

Investments

13

Legal structure

stock

Average ownership (years)

6.9

Investors by type

Investors by region

Companies

Company

Country

Invested

Exit

Fund

Svenska Fönster

Denmark

2000

2003

Axcel I

LOGSTOR

Denmark

1999

2006

Axcel I

Kwintet

Denmark

1999

2005

Axcel I

BB Electronics

Denmark

1998

2016

Axcel I

Laundry Systems Group

Denmark

1998

2006

Axcel I

Thygesen Textile Group

Denmark

1998

2006

Axcel I

Kilroy Travels

Denmark

1998

2006

Axcel I

Rationel Vinduer

Denmark

1998

2003

Axcel I

Bekaert Handling Group

Denmark

1997

2005

Axcel I

Føvling

Denmark

1997

2002

Axcel I

GraphX

Denmark

1997

2003

Axcel I

Tvilum-Scanbirk

Denmark

1996

2000

Axcel I

Monarflex

Denmark

1995

2000

Axcel I

Yearbooks

Fund accounts

Policies

Axcel Management

March 14th 2022

Axcel V K/S 2, 2021

February 23rd 2022

Ax Management Invest II K/S - Annual Report 2021

February 23rd 2022

Ax VI Management Invest II K/S - Annual Report 2021

February 23rd 2022

Ax VI Management Invest K/S - Annual Report 2021

February 23rd 2022

Axcel VI KS 2 - Annual Report 2021

February 23rd 2022

Axcel VI K/S - Annual Report 2021

February 23rd 2022

Ax V Management Invest II K/S - Annual Report 2021

February 23rd 2022

Ax V Management Invest K/S - Annual Report 2021

February 23rd 2022

Axcel V K/S 2 - Annual Report 2021

February 23rd 2022

Axcel IV K/S 2 - Annual Report 2021

February 23rd 2022

Axcel IV K/S - Annual Report 2021

February 23rd 2022

Axcel III K/S 2 - Annual Report 2021

February 23rd 2022

Axcel III K/S 1 - Annual Report 2021

February 15th 2021

Axcel III K/S 2, 2020

February 15th 2021

Axcel VI K/S, 2020

February 15th 2021

Axcel VI K/S 2, 2020

February 15th 2021

Axcel V K/S, 2020

February 15th 2021

Axcel V K/S 2, 2020

February 15th 2021

Axcel IV K/S, 2020

February 15th 2021

Axcel IV K/S 2, 2020

February 15th 2021

Axcel III K/S 1, 2020

February 15th 2021

Ax VI Management Invest II, 2020

February 15th 2021

Ax V Management Invest II KS, 2020

February 15th 2021

Ax Management Invest II, 2020

May 7th 2020

Axcel VI KS - KID

May 7th 2020

Ax VI Management Invest II - KID

May 7th 2020

Axcel V KS - KID

May 7th 2020

Ax V Management Invest II - KID

May 7th 2020

Ax Management Invest II KS - KID

April 6th 2020

Ax Management Invest II K/S, 2019

April 6th 2020

Axcel V Management Invest II, 2019

April 6th 2020

Axcel V K/S 2, 2019

April 6th 2020

Axcel V K/S , 2019

April 6th 2020

Axcel IV K/S 2, 2019

April 6th 2020

Axcel IV K/S, 2019

April 6th 2020

Axcel III K/S 2, 2019

April 6th 2020

Axcel III K/S 1, 2019

May 27th 2019

Axcel Management Invest II K/S, 2018

May 27th 2019

Axcel V KS 2, 2018

May 27th 2019

Axcel V KS, 2018

May 27th 2019

Axcel IV K/S 2, 2018

May 27th 2019

Axcel IV K/S, 2018

May 27th 2019

Axcel III K/S 2, 2018

May 27th 2019

Axcel III K/S 1, 2018

May 27th 2019

Axcel V Management Invest K/S, 2018

May 27th 2019

Axcel V Management Invest II K/S, 2018

May 8th 2019

Axcel Management Invest II K/S, 2017

May 8th 2019

Axcel V K/S, 2017

May 8th 2019

Axcel V Management Invest K/S, 2017

May 8th 2019

Axcel III K/S 2, 2017

May 8th 2018

Axcel V Management Invest II K/S, 2017

May 8th 2018

Axcel V Management Invest K/S, 2017

May 8th 2018

Axcel IV K/S 2, 2017

May 8th 2018

Axcel IV K/S, 2017

May 8th 2018

Axcel III K/S 1, 2017

April 27th 2017

Axcel IV K/S 2, 2016

April 27th 2017

Axcel IV K/S, 2016

April 27th 2017

Axcel III K/S 2, 2016

April 27th 2017

Axcel III K/S 1, 2016

April 27th 2017

Axcel Management Invest K/S II, 2016

June 9th 2016

Axcel Management Invest K/S II, 2015

June 9th 2016

Axcel Management Invest K/S II, 2015

June 9th 2016

Axcel III K/S 1, 2015

June 9th 2016

Axcel III K/S 2, 2015

June 9th 2016

Axcel IV K/S, 2015

June 9th 2016

Axcel IV K/S 2, 2015

December 31st 2014

AXCEL MANAGEMENT INVEST K/S II, 2014

December 31st 2014

AXCEL III K/S 1, 2014

December 31st 2014

AXCEL III K/S 2, 2014

December 31st 2014

AXCEL IV K/S, 2014

December 31st 2014

AXCEL IV K/S 2, 2014

December 31st 2013

AXCEL III K/S 1, 2013

December 31st 2013

AXCEL III K/S 2, 2013

December 31st 2013

AXCEL IV K/S 1, 2013

December 31st 2013

AXCEL IV K/S 2, 2013

December 31st 2012

AXCEL III K/S 1, 2012

December 31st 2012

AXCEL III K/S 2, 2012

December 31st 2012

AXCEL III K/S 2, 2012

December 31st 2012

AXCEL IV K/S 1, 2012

December 31st 2012

AXCEL IV K/S 2, 2012

December 31st 2011

AXCEL III K/S 1, 2011

December 31st 2011

AXCEL III K/S 2, 2011

December 31st 2011

AXCEL IV K/S 1, 2011

December 31st 2010

AXCEL III K/S 2, 2010

December 31st 2010

AXCEL III K/S 1, 2010

See all Fund accounts