Delete obtains additional resources to support further Nordic growth – Axcel invests in Delete
Delete Group, a leading environmental services provider for the industrial, construction and real estate sectors in Finland, Sweden and the Baltics, strengthens its position in the Nordics with a new majority owner. The Nordic private equity investor Axcel has signed an agreement to acquire a majority of the shares in Delete on 10 July 2013.
Intera, together with the entrepreneurs, founded the company in 2010 through a merger of two leading environmental services companies. The company has since its creation grown significantly both organically and through acquisitions and has reached annual revenue of around EUR 100 million.
“Delete has grown rapidly over the past three years, and the new owner provides additional resources to grow in the Nordics. Axcel is committed to the long-term development of the company in order to satisfy increasing customer needs also in the future,” comments Delete’s CEO Jussi Niemelä.
“During Intera’s ownership, Delete has been developed into a leading environmental services provider in Finland and northern Sweden. Delete is well-positioned to continue to grow in the Nordics under the new majority owner,” states Janne Näränen of Intera Partners.
“Axcel is excited to support Delete’s growth going forward. Environmental services will have an increasingly important role in the industrial, construction and municipal sectors,” notes Lars Österberg, partner at Axcel.
The transaction is expected to be completed during the third quarter of 2013, subject to approval from theco mpetition authorities. The transaction will not cause changes in the personnel or have impact on customer relationships or partnerships.
Janne Näränen, Intera Partners
Tel. +358 50 566 4869
Delete specialises in environmental services for industry, construction and real estate clients in Finland, Sweden, and the Baltic states. The company’s services include industrial cleaning services, heavy and special demolition services as well as recycling and waste management services. Delete employs nearly 700 environmental services professionals and the pro forma turnover of the business in 2012 amounted to approximately EUR 100 million.
Axcel was founded in 1994 by a group of investors from Denmark’s largest financial and industrial institutions. Axcel focuses on investing in medium-sized companies in the Nordic region and has a broad base of both Danish and international investors. Axcel has raised four funds with total committed capital of around DKK 10 billion and has made 39 investments along with 50 significant bolt-on acquisitions. 25 of the companies in which it has invested have so far been sold or floated. Axcel’s investments currently include 14 companies and a significant holding in PANDORA, representing combined revenue of more than DKK 17 billion and around 11,400 employees.