Axcel to acquire a majority stake in AddPro from Adelis for $124m.

Axcel, a Nordic mid-market private equity firm, agreed to acquire a majority stake in AddPro, a Swedish provider of IT outsourcing, application and cloud integration services, from Adelis Equity Partners, a private equity firm focused on the Nordic lower middle market, for $124m. "AddPro’s impressive development and its market leading position, which Nicklas and his team has managed to build over the years, are a testimony to the strong corporate culture, the skilled management team, and the highly competent employees. AddPro has proven to be able to grow organically as well as acquisitively and we regard the company as a very attractive platform for continued growth," Christian Bamberger Bro, Axcel Partner.