IceLake has acquired Axi from Strada Partners

AXI IT Services

AXI is a leading end-to-end IT managed services provider for SMEs and the middle market in Belgium and the Netherlands. It offers a broad range of services (hybrid cloud, digital workplace, cybersecurity, connectivity, data & AI), combining deep technical expertise with best-in-class service and long-term support through a managed service model.

The Deal

Lincoln International’s Capital Advisory Group in Benelux advised IceLake on arranging financing to support its acquisition of AXI. The financing will also support AXI’s future acquisitive growth strategy across Europe. Despite a highly competitive financing environment, with several IT managed services transactions simultaneously approaching the debt markets, Lincoln International secured an attractive financing package from a leading global private debt fund. Leveraging its in-depth understanding of lenders’ preferences and investment criteria, extensive transaction experience and strong lender relationships, the team successfully secured committed financing within an exceptionally short timeframe. This further demonstrates Lincoln International’s growing presence and strengthening position in the Belgian M&A market.

Our Perspective

Sander Thiadens, Managing Director at Lincoln International who led the transaction, commented, “Leveraging the deep IT managed services sector expertise of Lincoln International’s industry groups, the capital advisory team was able to effectively position AXI’s compelling credit story and engage the most relevant lenders from the outset. Rather than pursuing a broad market approach, the team adopted a highly targeted strategy, focusing exclusively on lenders with a strong understanding of and appetite for the IT managed services sector and AXI in particular. Through close collaboration and a coordinated effort between Lincoln International’s Benelux Capital Advisory Group and IceLake’s team, combined with the precise credit positioning and disciplined lender selection, the financing process was executed smoothly and efficiently.”

Strada Partners

Strada Partners is a Belgium-based private equity firm founded in 2022 and headquartered in Antwerp. The firm focuses on investments in European lower-middle market companies, particularly in software, technology-enabled business services and healthcare. Strada has approximately €600 million in assets under management and 15 portfolio platforms. Strada pursues a hands-on, long-term investment approach, partnering closely with management teams to accelerate organic growth and execute buy-and-build strategies.

IceLake

IceLake Capital is a Dutch private equity firm headquartered in Amsterdam that invests in market-leading, medium-sized businesses across Northwestern Europe. The firm partners with management teams to accelerate growth through buy-and-build strategies, international expansion, operational excellence and succession solutions. IceLake focuses on businesses with strong cash flow generation, experienced management teams and defensible positions in attractive niche markets.

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