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Axcel to invest in SuperOffice

Axcel will be making a majority investment in SuperOffice, a provider of cloud-based CRM software to business-to-business companies in Europe.

Axcel will be making a majority investment in SuperOffice, a provider of cloud-based CRM software to business-to-business companies in Europe. No financial terms were disclosed. Harris Williams is advising SuperOffice on the transaction.


LONDON–(BUSINESS WIRE)–Harris Williams, a global investment bank specializing in M&A advisory services, announces that it is advising SuperOffice on its pending majority investment from Axcel. SuperOffice is a leading Northern European SaaS CRM provider. The transaction is subject to customary regulatory approvals. The transaction is being led by Thierry Monjauze and Sylvain Noblet of the Harris Williams Technology, Media & Telecom (TMT) Group and Michael Osborne of the firm’s London office.

“It was paramount for the founder’s family to find the right ‘home’ for the company and its employees, and Axcel offers an exciting opportunity to continue establishing a leading position across Northern Europe while maintaining the company’s unique culture,” said Thierry Monjauze, a managing director at Harris Williams. “The transaction adds to our firm’s successful track record executing transactions in the Nordics and more specifically in enterprise software, where we expect to see continued activity despite current market volatility.”

“We feel privileged to have worked with SuperOffice’s management team as they enter into a private equity partnership for the first time, and we are delighted with the outcome for all parties involved, particularly given the current macroeconomic climate,” said Sylvain Noblet, a director at Harris Williams. “We look forward to following the company through its next chapter.”

SuperOffice is a leading provider of cloud-based CRM software to business-to-business companies in Europe. SuperOffice delivers a strong CRM that offers integration to office productivity tools like Office 365 and G Suite; support for automation of marketing, sales and customer service processes; and flexible tools for digital customer engagement. In addition, the SuperOffice App Store offers a wide selection of applications for extending as well as integrating the solution to a wide variety of other business systems. SuperOffice is about to launch generation 9 of their software which will include a new and improved user interface, AI services and a number of general improvements which will benefit the more than 5,500 customers. The company is headquartered in Oslo, Norway, with go-to-market organizations in Sweden, Denmark, Germany, Netherlands, Switzerland and the U.K., as well as a customer experience center in Lithuania.

Founded in 1994, Axcel is a Nordic private equity firm focusing on middle market companies and has a broad base of both Nordic and international investors. Axcel has raised six funds with total committed capital of just over €2.5 billion. These funds have made 55 platform investments, with almost 100 major add-on investments and 43 exits. Axcel currently owns 12 companies with combined annual revenue of more than €1.3 billion and more than 5,000 employees.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

The Harris Williams TMT Group advises leading private and public companies, entrepreneurs, private equity firms and venture capital firms on mergers and acquisitions and capital-raising transactions worldwide. The TMT Group has deep domain expertise in the IT Services, Software/SaaS and Internet & Digital Media segments, with particular emphasis on specific verticals including education technology, data analytics, energy technology, fintech, public sector, and supply chain/logistics—with a dedicated healthcare technology (HCIT) practice. Across verticals, the firm also advises technology services and networking solutions businesses. For more information on the TMT Group and its recent transactions, visit the TMT Group’s section of the Harris Williams website.