Axcel sells Mita-Teknik back to founding family

The GP made the divestment from Axcel IV, a DKK 3.6bn vehicle that closed in July 2011.

Axcel partner Lars Cordt said in a statement that unfavourable market conditions in recent years have meant that their investment has not been a great success, and therefore selling the business back to the Andersen family is the best possible option for the company's further development.

CEO Jesper Andersen said the business has taken cost-cutting measures and launched new products with a long-term growth plan.

Previous funding
Axel acquired Mita-Teknik for a total consideration of DKK 800m in February 2012. CEO Jesper Andersen and head of R&D Thomas Andersen, brothers and members of the founding family, remained in their respective positions and retained a significant minority stake.

Company
Mita-Teknik was founded in 1969 by the Andersen family and is headquartered in Rødkærsbro, Denmark. The company manufactures control systems for wind turbines.

People
Axcel – Lars Cordt (partner).
Mita-Teknik – Jesper Andersen (CEO).

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