Nordic buys Conscia from Axcel

To fund the acquisition, Nordic Capital tapped Nordic Capital IX, a €4.3bn fund that closed in May last year.

The sale ends a holding period of almost four years for Axcel, which originally acquired the business with equity from its fourth fund.

Axcel hired Raymond James to sell the business in September and expected a valuation of around DKK 2bn, according to Unquote sister publication Mergermarket.

Previous funding
Via Equity bought a 35% stake in Conscia in December 2012 and sold it to Axcel in a secondary buyout in May 2015.

Company
Conscia is a Danish company providing IT network, mobility and security services. Founded in 2003, the company has projected revenues of DKK 2bn this year and posted sales of DKK 1.4bn last year with EBITDA of around DKK 108m, according to Axcel's website. The company is based in Brøndby, west of Copenhagen, and employs 500 people.

People
Nordic Capital Partners – Fredrik Näslund (partner).
Conscia – Claus Thoorsgaard (CEO).

Advisers
Vendor – Raymond James (corporate finance).

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• Topics
• Exits
• Buyouts
• Nordics
• Technology
• Nordic Capital
• Axcel
• Secondary buyout
• Denmark