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Elcor is a Stavanger based leading Norwegian electric panel manufacturer with annual sales of c. NOK 440 million and over 170 employees.
tic-elkas and Eegholm have a vision to create a Northern European leader within electrical control panels and related services, and the acquisition of Elcor takes the group one step closer to this goal.
Founded in 1994, Axcel is a Nordic private equity group focusing on four sectors: Technology, Business Services & Industrials, Healthcare and Consumer.
Axcel has raised seven funds with committed capital of more than EUR 4.1 billion from Nordic and international investors. Axcel currently own 21 companies headquartered across the Nordics, and have made a total of 71 platform investments, more than 300 add-on acquisitions and 50 exits.
EY provided Buy-side M&A advice, financial and tax due diligence to Axcel in the process.
Buy-side deal team:
- Corporate Finance: Jan Erik Åsland, Erik Axelsen, Hanne Levardsen and Eirik A. Madsen.
- Financial Due Diligence: Erik Haagensen, Romie Duyag, Tobias Rødseth and Åsne F. Bakke.
- Tax Due Diligence: Kristian Villersø Råum, Gaute Ebeltoft, Faisal Siddiq, Kjetil Ruben Kronhaug, Adrian Reinertsen and Sunniva Aarlie.
Learn more of the transaction here.
The transaction is currently awaiting clearance from regulatory authorities.
Below is a selection of recent transactions supported by EY, and you can also find a more extensive list on our Strategy and Transactions page.