DANX (Day And Night (e) Xpress) was a pioneer in Denmark as the first in-night distributor of spare parts, and is recognised by its customers for its high-quality services in a complicated and fragmented market. DANX has since extended its services throughout the Nordic and Baltic countries.

Carousel was founded to tackle the constraints of traditional inflexible logistics services, initially focusing on the UK spare parts market. Carousel’s focus on customer-centric solutions, with flexible collection and delivery times from source markets including Germany and the Netherlands, is acknowledged by its customers in its core end markets of the UK, Ireland and Iberia.

The demand for logistics services is expected to continue growing, mainly driven by OEMs optimising inventory, and minimising downtime for technicians and for mission-critical machines. The combination of DANX and Carousel will create the first pan-European in-night specialist logistics provider, strongly positioned to capture market growth.

“I’m very proud of our historic growth, driven by our ability to offer unrivalled mission-critical services through our high-density network covering the Nordics and Baltics. Together with Carousel, we’re well positioned to outgrow the market on a European scale. We very much look forward to the new partnership with Axcel and Carousel,” says Klaus Rud Sejling, CEO of DANX, who will take on the position of CEO of the merged group.

“I’m looking forward to bringing together Carousel and DANX – strongly positioned in our respective regions and sectors. In partnership with Axcel, we’re combining two proven teams to create a pan-European critical-service logistics network positioned to benefit from positive client service and engagement, with strong future growth potential,” says Jonathan Simpson-Dent, CEO of Carousel, who will be appointed Chairman of the Board of the merged group.

 “Acquiring two businesses at the same time is never easy. However, with the great prospect of this merger, we’re happy that we could make this happen. By allowing these two great companies to join forces – and with their strong positions in each respective geography – we believe that we can grow the combined company significantly across Europe. With this merger, we’ve created both a strong pan-European player and a platform for further consolidation within in-night logistics services in Europe,” says Lars Cordt, Partner at Axcel and the person responsible for the investment.

 The founder of DANX, Søren Gønge (currently a member of the Board of DANX), will continue on the Board and as a significant shareholder in the combined company.

Carousel was acquired from a group of UK investors, including the founders of Carousel and PE firm Livingbridge. DANX was acquired from a group of Danish private investors, including Søren Gønge and Klaus Rud Sejling, who are both reinvesting alongside Axcel.

The transaction is subject to customary regulatory approvals and is expected to close in Q1 2022.

DANX/Carousel is Axcel VI’s ninth investment.