IK VII Fund reached agreement to acquire NeTel Group AB (Netel) from Axcel. Netel is a leading infranet service provider to telecom operators, utilities and municipalities in Nordic and Baltic region. Financial terms of the transaction are not disclosed, and completion of the transaction is subject to legal and regulatory approvals.
NeTel Group AB was founded in 2000 and has grown to become a leading Nordic infranet service provider to telecom operators, utilities and municipalities. With presence in Sweden, Norway, Finland and the Baltics and around 340 employees, NeTel Group AB generated pro forma revenues of approximately MSEK 1,500 in 2015.
IK Investment Partners (IK) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well positioned businesses with excellent long-term prospects
TARK in cooperation with Swedish law firm Mannheimer Swartling assisted IK in carrying out of legal due diligence on Netel´s Estonian business and advised the transaction on certain Estonian law aspects. TARK´s experts involved in the project were partner Marit Savi and senior associate Tanel Küün.