July 6, 2020 - Assignment

Axcel invests in AddPro

Axcel acquires a majority ownership stake in AddPro, a Swedish provider of IT outsourcing, application and cloud integration services. The transaction is subject to customary regulatory approvals.

AddPro, which during 2019 generated revenue of approximately SEK 800 million, is acquired from Adelis Equity Partners, founders, the management team and key employees. The current management team and founders will reinvest alongside Axcel. Axcel is a leading Nordic private equity investor in the mid-market, and targets top-tier businesses with potential for internationalisation.

The management team and founders of AddPro were advised by Mannheimer Swartling in the transaction.