Axcel Seeks to Sell Capture One via Auction

Axcel, the Nordic private equity firm that acquired Capture One in 2019, is now auctioning off the photography software company, with Stifel managing the process. Axcel had bought Phase One, which included Capture One, for 1.5 billion Danish kroner (around $233.8 million), but later separated the two entities. While Phase One is looking to sell first, this strategy may change. For 2024, Phase One's revenue has fallen to about $48 million from over $70 million in 2023, leading to a loss of over $3.6 million. On the other hand, Capture One reported a slight increase in gross profit for 2024, with EBITDA at 68 million Danish kroner (about $10.6 million) and revenue around 24 million euros ($27.9 million). Axcel is currently informing lenders about the sale.