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RPC advises Axcel on acquisition of pan-European provider Carousel Logistics

Published on 11 March 2022

• RPC's PE and Corporate team worked alongside leading Danish law firm Accura who led on Axcel's concurrent acquisition of Danx
• The combined acquisition will create an in-night logistics specialist across Europe

International law firm RPC has advised Danish private equity fund Axcel on its acquisition of Carousel Logistics, a pan-European specialised provider of aftermarket and spare parts logistics.

The RPC team, led by James Mee, David Wallis and Ben Magahy, worked alongside Danish law firm Accura, who led on Axcel's concurrent acquisition of Danx, an in-night distributor of spare parts across the Nordics and Baltics. SKW Schwarz provided German law advice.

The transaction completed on 28 February.

Axcel has acquired both firms to create a combined in-night logistics specialist offering end-to-end supply chain solution handling of time-sensitive spare parts with strong positions in the Nordics, Baltics, UK, Ireland and Iberia. 

Carousel Logistics, which was founded in 1986 and employs more than 210 staff, has grown from an initial focus on the UK spare parts sector to providing more flexible and customer-centric logistic solutions within Europe.

Meanwhile DANX (Day And Night (e) Xpress) is a pioneering force in Denmark as the first in-night distributor of spare parts, and is recognised for providing high-quality service throughout the Nordic and Baltic region.

Commenting on the deal, James Mee said: "We were delighted to work with the Axcel and Accura teams in helping Axcel negotiate the acquisition of two distinguished businesses, which in combination will create a leading pan-European, in-night logistics specialist."

"It has been a pleasure supporting them in their ambitions in the logistics market. "

"Deal activity in 2022 continues with real momentum and the first half of this year is looking busy, with multiple deals in the pipeline and several already announced. We're privileged to work with leading clients and law firms in the UK and elsewhere.”

Axcel Partner, Lars Cordt, who led on the investment, said: "We are very happy to have concluded this exciting merger, creating a strong pan European player and a platform for further consolidation within in night logistics services. It was important to work closely with Accura and RPC as advisers experienced in the Danish and UK M&A and private equity markets."

The Accura team was led by Tue Ravnholt Frandsen and Alan Pai.  Sebastian Graf von Wallwitz led for SKW Schwarz.
Eversheds Sutherland (International) LLP, led by Mark Beardmore and Rob Worsfold, acted for the sellers.