Private equity firm Axcel Management A/S has announced that the transaction to acquire LS Retail has been completed. LS Retail will continue to operate as an independent company.
On December 9, the companies issued a joint press release stating Axcel’s intent to acquire the Iceland-based software firm. The transaction has now been completed.
Accura and RPC served as Axcel’s legal advisers. On the sell-side, William Blair acted as the exclusive financial adviser and Fried Frank as legal counsel to LS Retail in connection with this transaction.
LS Retail’s solutions, which are built on Microsoft technology, will continue to be sold, implemented and supported through its strategic global network of channel partners, currently servicing more than 110,000 customer sites in 157 countries.
Based in Iceland, LS Retail has offices in Asia, Europe, the Middle East and North America, and employs approximately 300 colleagues.
About LS Retail
LS Retail is a world-leading developer and provider of unified software solutions for retail, hospitality, food service, pharmacy and forecourt businesses.
LS Retail solutions offer powerful industry-specific functionality with high composability and flexibility for retail and hospitality businesses. LS Retail software powers over 110,000+ stores, restaurants, hotels, gas stations and pharmacies across 157 countries, providing them with data visibility, reliable technology, and a global standard for the enterprise.
About Axcel
Founded in the Nordics, Axcel is a leading private equity firm investing across Northern Europe, with a focus on four sectors: Technology, Business services & Industrials, Healthcare and Consumer. With offices in Copenhagen, Stockholm and Frankfurt, Axcel’s team leverages 31 years of experience in building market leaders through a collaborative mindset and a structured approach to value creation. The firm has raised nine funds with committed capital of more than EUR 4.8 billion from Nordic and international investors. Axcel currently owns 24 companies and has completed 78 platform investments, over 400 add-on acquisitions and 53 exits.
For more information, visit www.axcel.com.
