Axcel

Standard Motor Products (SMP) has agreed to acquire Nissens Automotive, a European manufacturer of engine cooling and air conditioning products, for approximately $388 million (€360 million) from Axcel and the Nissen family.

Axcel merged Logimatic with Picca Automation to form a Nordic automation group. Logimatic designs electrical and SRO systems, SCADA systems, PLC controllers and communication networks.

Bettcher Industries announced the signing of a definitive agreement to acquire Frontmatec, a global manufacturer of automated solutions for pork and beef processing, from Axcel. KKR will invest additional capital to support the transaction.

Axcel, a Nordic private equity firm, acquired Acobia and merged it with Picca to form a leading Scandinavian industrial automation group with over 175 employees and SEK 300 million in revenue.

Axcel has entered a partnership with Picca Automation to create the leading automation house in the Nordics, with Axcel holding a majority stake and Picca's management retaining a significant ownership.

Axcel will acquire a majority stake in Picca Automation, a Danish industrial automation services and software provider, to build a leading Nordic industrial automation partner. The transaction is expected to close in the first half of 2022.

A.P. Moller Holding signed an agreement to acquire Nissens Cooling Solutions, a global supplier of cooling systems for wind turbines and off-highway vehicles, from K. Nissen International A/S. NCS will become a standalone company fully owned by A.P. Moller Holding.