Axcel acquires two Danish companies and creates new industry platform

The private equity fund is planning further acquisitions in an effort to consolidate the Northern European switchboard market.

"With the acquisitions of Tic Elkas and Eegholm Group, we’re building a platform that combines high-quality complex solutions and local presence," says Lars Cordt, partner at Axcel. | Photo: Pr/axcel

by OLE ANDERSEN

Axcel has acquired two Danish suppliers of electrical panels, Tic Elkas and Eegholm Group, in a single transaction. Together, the two companies will reach revenue of more than DKK 700m (USD 100.3m), and the ambition is to build a Northern European market leader, the private equity fund announced Tuesday morning.

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