Private equity fund acquires majority holding in Netcompany  

2006.08.15
The Danish based equity fund Axcel has acquired 60% of the shares of Netcompany, one of Denmark's most rapidly growing IT companies

The Danish based equity fund Axcel has acquired 60% of the shares of Netcompany, one of Denmark's most rapidly growing IT companies. The three founders of the firm and a number of managers will own the remaining 40% stake. Netcompany specialises in portals and system integration, and supplies solutions in e-trade, workflow, staff portals and document management. Since its establishment in 1999, the firm has achieved an average 30% growth in annual revenues.

Christian Frigast, managing director of Axcel, says that further focus will now be placed on growth and earnings. "Netcompany is a modern IT consultancy company in a society where there are fewer and fewer factories. Our objective is to help support the growth of the company. The market is growing strongly and Netcompany has shown that it can handle growth," says Frigast.

Axcel will initially concentrate on developing Netcompany in Denmark. At a later stage, the company might broaden its number of products and expand abroad. Axcel is a leading Danish based equity firm with both Danish and international investors.

Axcel was established in 1994, and since then has actively invested in companies through three equity funds with a total funding of DKK 6.6 bn (USD 1.1 bn). The news was reported by financial daily newspaper Børsen.

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