Axcel has launched a €266m continuation fund to extend its partnership with SuperOffice, the Norway-based CRM software provider for small and medium-sized businesses across Northern Europe.

The deal enables Axcel to reinvest in SuperOffice after exiting its position in Axcel VI, which acquired the company in 2020.

Carlyle AlpInvest led the investment, alongside new and existing investors, SuperOffice’s management team and employees, and Axcel’s partners. The transaction allows Axcel’s existing investors to realise strong returns while backing SuperOffice’s continued growth potential.

Christian Bamberger Bro, Co-Managing Partner at Axcel, said: “A continuation fund is an attractive solution when there’s still further value creation to unlock. We’re proud of SuperOffice’s transition to a cloud-based SaaS model, its enhanced commercial efforts, and the nearly threefold increase in cash EBITDA. This deal reaffirms our confidence in the company’s future.”

Under Axcel’s ownership, SuperOffice has successfully shifted from on-premise to cloud, strengthened its leadership team, and progressed its sustainability agenda. The new phase of ownership will focus on scaling go-to-market capabilities and accelerating M&A activity to grow SuperOffice’s presence across Europe. The goal is to position SuperOffice as the leading European CRM provider for its target market, combining tailored product functionality with best-in-class customer service.

Lars Engbork, Group CEO of SuperOffice, said: “With Axcel by our side, we’ve built strong momentum. We’re ready to scale faster, innovate deeper, and deliver even more value to our customers.”

Jefferies acted as sole financial advisor on the transaction, which closed on 3 June 2025.

If you think we missed any important news, please do not hesitate to contact us at news@pe-insights.com. 

Can`t stop reading? Read more.