Axcel has raised a EUR 266 million continuation fund to extend its ownership of SuperOffice, enhancing growth opportunities in the CRM software market across Northern Europe.

Information on the Target

Axcel has finalized a continuation fund valued at EUR 266 million, aimed at extending its ownership of SuperOffice, a prominent provider of Customer Relationship Management (CRM) software tailored for small and medium-sized enterprises across Northern Europe. This strategic transaction marks a significant shift in ownership from Axcel VI, the previous fund that invested in SuperOffice in 2020, which has now completely divested its stake.

In this new single-asset continuation fund, Carlyle AlpInvest serves as the lead investor, while other new and existing investors, along with the management and employees of SuperOffice, are also involved. This setup presents an opportunity for previous investors to recognize strong returns while enabling Axcel and new investors to engage with a high-performing asset poised for further value enhancement.

Industry Overview in Norway

The CRM software industry in Norway is witnessing a dynamic transformation, primarily driven by the increasing demand from small and medium-sized businesses (SMBs) for modern, efficient customer ma