Axcel-backed tic elkas/Eegholm group to acquire Elcor.

Axcel-backed tic elkas/Eegholm group, an end-to-end provider of electrical control panels and related services, agreed to acquire Elcor, a Scandinavian electrical panels and complete panel systems supplier. Financial terms were not disclosed. "Being part of this group allows us to scale some of the production ideas that have proven highly effective for us and integrate them on a larger scale. Elcor and the tic elkas/Eegholm group are driven by the same ideology, which, together with our good chemistry, makes me very excited about our future collaboration," Knut Husebø, Elcor CEO.