IK Investment Partners, a European private equity group, has today announced the acquisition of TCM Group, one of Scandinavia’s leading kitchen manufacturers, from Axcel, a Nordic private equity firm. Under Axcel’s ownership, TCM Group has developed into one of Europe's most profitable kitchen producers.

TCM Group is one of Scandinavia’s leading manufacturers of kitchens, with strong brands such as Svane Køkkenet and Tvis Køkkener. TCM Group mainly supplies the Danish market but has an increasing focus on the rest of the Nordic region. The internationalisation process is expected to pick up pace under the new ownership.

TCM Group has doubled their market share in Denmark in recent years and successfully moved into Norway making  a continued growth in Scandinavia an important focus area.

The sale to IK Investment Partners is subject to approval from the Danish competition authorities, and the transaction is expected to be completed early next year.

TCM Group develops, manufactures and sells kitchens and bathrooms from factories in Tvis and Horsens respectively. TCM Group expects revenue of more than DKK 500 million in 2015. TCM Group is owned by Axcel (majority owner), former owners and management.

Founded in 1989 IK Investment Partners has a 25-year heritage of value creation focused on mid-market investments in the Nordics, DACH region, France and Benelux. IK Investment Partners’ portfolio currently include 21 companies generating revenue from more than 100 different countries.

Bruun & Hjejle acted as legal counsel to IK Investment Partners.