Axcel invests in Gubi

The previous owner and son of the company's founder, Jacob Olsen, will continue as CEO and minority shareholder.

With the GP on board, Gubi intends to increase its market share in existing and new markets, as well as develop its organisation. New markets include Europe, the US, Australia and Asia.

Axcel will hold the majority of Gubi's shares, while Chr Augustinus Fabrikker, the investment company of the Augustinus Foundation, will take a non-controlling minority stake of around 24%.

Carnegie Investment Bank acted as exclusive financial adviser to Axcel V in the acquisition of Gubi.

The deal marks Axcel V's fifth investment, following a final close in April this year on €617m.

Company
Founded in 1967 and headquartered in Nordhavn, Copenhagen, Gubi is a design brand focusing on furniture, lighting and interior products. Products are sold through online and offline retailers. The firm generated operating profit of DKK 88m in its 2017 financial year, and around three quarters of revenue was generated outside Denmark.

People
Axcel – Asbjørn Hyldgaard (director); Lars Cordt (partner).
Gubi – Jacob Olsen (CEO).

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