Axcel invests in SteelSeries, a leading global brand within gaming peripherals

den 1 juli 2019

For nearly two decades, SteelSeries has been a frontrunner in the gaming industry, offering high-quality gaming peripherals to pro and enthusiast gamers. Its software platform has millions of daily users and is integrated with games and applications. Over the years, the company has built a strong brand and has leveraged this to outpace category growth globally. The gaming peripherals market is expected to continue experiencing significant growth, mainly driven by an increased number of gamers, growth in esports and a clear trend towards multiplayer/social games.

“I am very proud of our growth, driven by relentless innovation, inspired design, and a commitment to esports. We are well positioned to benefit from category growth and a loyal fan base. We have built the best team in the business and we look forward to a new partnership with Axcel.”says Ehtisham Rabbani, CEO of SteelSeries.

SteelSeries helped create the gaming audio category, in a list of many industry firsts. Today, the Arctis headset line is an award-winning market leader. SteelSeries’ other market leading products lines include the Rival gaming mice, Apex gaming keyboards and QcK gaming surfaces.

“Ehtisham and the rest of the management team have done an excellent job in defining a clear value proposition and setting a focused strategy. Furthermore, the company has been able to develop new and innovative products across the key gaming peripherals supporting today’s enthusiast and professional gamers,” says Lars Cordt, who is responsible for the investment at Axcel. “Based on SteelSeries’ strong position as a leading global gaming peripherals brand, we believe that we can grow the company significantly going forward.”

Founded in Denmark to serve the needs of esports pros, the company has sponsored some of the world’s first professional esports teams and tournaments. This legacy has solidified SteelSeries as a top esports brand and continues to drive all aspects of the company’s hardware and software development.

Jacob Wolff-Petersen, the founder, is excited about the prospects of partnering with Axcel:

“I’m excited about partnering with Axcel for the next phase of the company’s journey. SteelSeries has become a global company, but the company’s Nordic heritage is still an essential part of our DNA. Axcel was therefore an obvious partner. I’m certain that together with Axcel, we will be able to further expand the SteelSeries brand across regions and channels.”

Christian Bamberger Bro, partner at Axcel, adds:

“SteelSeries is an exciting investment opportunity for Axcel, where we will be able to leverage our experience within the consumer and technology sectors to develop the company together with its exceptionally talented management team.”

SteelSeries is being acquired from US-based Catterton. The parties have agreed not to disclose any financial terms. The transaction is subject to customary regulatory approvals.

SteelSeries is Axcel V’s ninth investment.Axcelwill control the majority of SteelSeries’ shares.

 

Further information:

Axcel:
Lars Cordt, Partner
E-mail: lc@axcel.dk
Tel.: +45 3336 6999 

Christian Schmidt-Jacobsen, Managing Partner
E-mail: csj@axcel.dk
Tel.:+45 3336 6999 

SteelSeries:
Jacob Wolff-Petersen, Founder
E-mail: jwp@steelseries.com
Tel.: +33 671409449

Ehtisham Rabbani, CEO
E-mail: er@steelseries.com 

Media Contacts:
Christian Cooper, PR Manager
E-mail: christian.cooper@steelseries.com

Stefanie Mazer, Director of PR
E-mail: stefanie@steelseries.com