Mooreland Partners advises Phase One on its sale by Silverfleet Capital

Phase One partners with Axcel for continued rapid growth

LONDON – June 17, 2019 – Mooreland Partners, the leading independent investment bank providing M&A and private capital advisory services to the global technology industry, today announced that it acted as the exclusive financial advisor to Phase One on its sale by Silverfleet Capital to Axcel.

Phase One is the world’s leader in high quality digital imaging, delivering its capabilities through two divisions: Software Imaging Systems, which provides market-leading raw image processing software to professional and amateur photographers and enterprises under the Capture One brand, and Image Capture Solutions, which supplies ultra-high-end, medium format camera systems for industrial applications (such as aerial mapping and inspection), as well as for professional and amateur photographers, and cultural heritage institutions.

Today, the majority of Phase One’s growth and profitability comes from the sale of software solutions, where the company has grown ~40% per annum over the last four years and continues with strong momentum. The company is headquartered in Copenhagen, Denmark and has operations in Germany, Hong Kong, Israel, Japan and the US.

Exiting shareholder, Silverfleet Capital, is a leading European mid-market private equity investor with a team of 30 executives based in London, Munich, Paris, Stockholm and Amsterdam. Since 2004, Silverfleet Capital has invested €2.0 billion in 30 companies.

Copenhagen-based Axcel is a Nordic private equity investment company focused on mid-market companies. With over DKK 14bn of committed capital across five funds, Axcel has a portfolio of 11 companies based predominantly in the Nordic region.

“High quality imaging is a critical capability driving many advanced current and future technology applications, and Phase One has been very successful in building out its activities in a number of attractive addressable market segments through software and systems business models. It has been a pleasure to work closely with the Board and Management Team of Phase One to execute on this transaction and position them for their next phase of rapid growth” said Victor Garcia, Managing Director at Mooreland Partners.

“Leveraging our strong domain expertise within software and industrial technology, coupled with first class execution, Mooreland has delivered a fantastic outcome for Silverfleet Capital and the other shareholders of Phase One” said Louis Jeng, Managing Director at Mooreland Partners.

ABOUT PHASE ONE
Phase One has two divisions: Software Imaging Systems (“SIS”), which provides market leading raw image processing software to professional and amateur photographers and enterprises under the Capture One brand; and Image Capture Solutions (“ICS”), which supplies ultra-high-end, medium format camera systems for industrial applications (such as aerial mapping and inspection), as well as for professional and amateur photographers, and cultural heritage institutions. The Business is headquartered in Copenhagen, Denmark, with operations in Germany, Hong Kong, Israel, Japan and the US. For more information, visit www.phaseone.com

ABOUT SILVERFLEET CAPITAL
Silverfleet Capital has been a leading European mid-market private equity investor for more than 30 years. The investment team of 30 executives is based in London, Munich, Paris, Stockholm and Amsterdam. Silverfleet Capital seeks to create value by identifying businesses within its core sectors that will benefit from selected macro growth criteria and then working with its portfolio companies to transform their growth prospects. These transformation strategies include investing to accelerate organic growth, increasing the international profile of each business, making follow-on acquisitions and focusing on operational improvements. Since 2004, Silverfleet Capital has invested €2.0 billion in 30 companies. For more information, visit www.silverfleetcapital.com

ABOUT AXCEL
Founded in 1994 by a group of Denmark’s largest financial and industrial institutions, Axcel is a Nordic private equity firm focusing on mid-market companies and has a broad base of both Danish and international investors. Axcel has raised five funds with total committed capital of more than EUR 1.8 billion to date. These funds have made 52 platform investments, more than 90 major add-on investments and 41 exits. Axcel currently owns eleven companies with combined annual revenue of around EUR 1.2 billion and some 6,000 employees. For more information, visit www.axcel.dk