Corsair Capital LLC agreed to acquire a majority stake in Norwegian financial services company Axo AS, Private Equity Wire reported Sept. 23.
Financial terms of the deal were not disclosed.
Axo CEO Carl Endresen and co-founder and CMO Morten Johansen will continue to serve in their current roles at the firm and remain shareholders.
Upon completion of the deal, which is subject to customary and regulatory approvals, Corsair Capital's executives are expected to join Axo's board.
William Blair offered financial advisory services to Axo, while Arctic Securities acted as financial adviser to Corsair Capital.
