We have advised Titech Electric, a leading supplier of electrical power panels, on its sale to the private equity company Axcel.
Titech holds a leading market position in the manufacturing of power panels. Alongside serving the Danish market with a wide range of panel types, the company has established itself as a key player in the data centre sector, delivering power solutions for the electrification and expansion of the fast-moving data centres across Europe. Titech will become part of the Elcor Group, which is backed by Axcel.
Elcor Group was founded in 2023 through the merger of the Danish companies tic elkas and Eegholm. Subsequently, Elcor Group has pursued an acquisitive expansion strategy and today the group operates from multiple locations across Denmark, Norway, Sweden, Poland, and Lithuania. With the strategic support from Elcor Group, Titech is poised to further expand its capabilities and services within the power sector.
Axcel is a leading Nordic private equity fund with offices in Denmark and Sweden, founded with the purpose of investing in and developing companies through active ownership. Since 1994, Axcel has carried out 72 platform investments, over 375 add-on acquisitions, and 53 exits.
