Cimbria acquires Danish software company APX10

The GP has acquired the business from Hedelskabet, a Denmark-based co-operative focused on green business and climate change services. 

The management team of APX10 invested in the company alongside Cimbria. 

The transaction, a proprietary deal, is the first Nordic deal by Cimbria Nord, formed two weeks ago, and was led by Cimbria Capital’s founding partner Brian V. Iversen.

The GP had been in talks with the company for about six months, with the vendor choosing Cimbria for its skillset and knowledge of the sector in which APX10 operates. 

The acquisition is aimed at expanding Cimbria's global footprint. The GP, established five years ago, has offices in the US and Denmark. It focuses on growth capital and early-stage buyout investments in the agriculture and water sectors in the Nordic region and North America, becoming a majority investor in businesses and deploying $5-15m at a time. 

Cimbria in 2017 acquired AMI Global, a US-based provider of industrial Internet-of-Things (IIoT) systems also working in the water management sector.

Company
Founded in 2018 and based in Viby, APX10 runs advanced data analytics through its platform to facilitate the digital transformation and insights of infrastructure owners and operators. According to its LinkedIn page, the company employs around 10 staff.

People
APX10 – Ulrich Borup Hansen (CEO).
Cimbria Capital – Brian Iversen (partner). 

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• Topics
• Buyouts
• Nordics
• Technology
• Carve-out
• Denmark