IK Investment Partners to acquire Netel from Axcel

IK Investment Partners (“IK”) is pleased to announce that the IK VII Fund together with management has reached an agreement to acquire NeTel Group AB (“Netel” or “the Company”), a leading Nordic infranet service provider to telecom operators, utilities and municipalities, from Axcel. Financial terms of the transaction are not disclosed, and completion of the transaction is subject to legal and regulatory approvals.Founded in 2000 as a subsidiary of PEAB, a Swedish construction and civil engineering company, Netel has grown to become a leading Nordic service provider for communication and