Global law firm 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 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 on the transaction was led by partner Shoan Panahi (Stockholm) and included associates Sebastian Wallin, Jonas Johansson, Pontus Grönberg, Ivana Sutalo (all Stockholm) and Louise Lundberg (Brussels).
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