Jul 6, 2020

White & Case LLP has advised Adelis Equity Partners (Adelis) on its sale of AddPro to Axcel. Founded in 2012, Adelis is a private equity firm focused on the Nordic lower market with €1 billion in assets under management. Since raising its first fund in 2013, it has acquired 21 companies and made more than 70 add-on acquisitions. Adelis is based in Stockholm, Sweden and also has an office in Copenhagen, Denmark. Established in 2000, AddPro is a Sweden-based IT services provider. Adelis invested in AddPro in 2017 with the goal of creating a leader in application, cloud computing and managed services. Since Adelis’ investment, AddPro has continued to grow and generated revenue of approximately SEK 800 million during 2019. The White & Case team which advised Adelis on the transaction was led by partner Shoan Panahi (Stockholm; Picture) and included associates Sebastian Wallin, Jonas Johansson, Pontus Grönberg, Ivana Sutalo (all Stockholm) and Louise Lundberg (Brussels).