IK VII Fund has reached an agreement to acquire NeTel from Axcel and management. The transaction is subject to customary competition approval.

Founded in 2000, NeTel has grown to become a leading Nordic service provider for communication and electrical networks. The company offers turnkey solutions, including e.g. planning, project management and maintenance of communication and electrical networks. With presence in Sweden, Norway, Finland and the Baltics and around 340 employees, NeTel generated pro forma revenues of approximately MSEK 1,500 in 2015.

IK was advised by Mannheimer Swartling in the transaction. The firm's team consisted primarily of Fredrik Andretzky, Evelina Anttila, Adam Erdling, Arvid Runéus and Jonna Johansson (M&A), Henrik Johansson, Jonas Lagerroos and Carl Lindberg (Structuring and Reinvestment), Johan Carle and Klas Arvidsson (Competition), Andreas Zettergren and Adam Rångemyr (Financing), Per Josefson and Karin Dahlqvist Bergenheim (IT/IP), Tom Hofset and Arman Azad (Real property), Joel Mårtensson (Environment), Johan Tholander (Employment) and Lisa Staxäng (Sustainability).