Axcel acquires two leading Danish providers of electrical panels

Axcel has acquired Danish tic elkas and Eegholm Group – two companies known for their customised, high-quality electric panels and technical expertise. Together, the companies will become Denmark’s leading electric panel manufacturer, meeting the growing automation and green transition demands from a wide range of industries. The ambition is to consolidate the Northern European electric panel market to meet the growing automation and green transition demands from a wide range of industries.

The transaction, which is the third investment made in Axcel Fund VII, is expected to be finalised in Q4 2023.