About Novax

Novax strives to be the best growth investor and partner to entrepreneurs and business owners. Novax has a long experience of developing growth companies and take these companies to the next level.

Knowledge and Commitment

Novax provides active support when implementing strategic and value-creating initiatives. Example of long-term value creation initiatives include focus on customer and employee satisfaction, investments in product development, sales and marketing as well as geographic expansion.


Novax has an extensive network of individuals with operational experience from various industries, who offer their expertise, commitment and experience, while actively supporting Novax company leaders.


Novax is a subsidiary of the family business Axel Johnson AB. Our background allows us to think differently. As a partner, we aim to create long-term profitability and value in companies with clear growth potential. Novax shares the fundamental values of the Axel Johnson Group. We believe in giving people freedom, which is essential to release energy for growth. Through our involvement with the Boards of Directors, we are committed, long-term owners with a flexible exit strategy.

Axel Johnson is a family business that was founded in 1873 and is run by the family members in the fourth and fifth generations.


The Axel Johnson Group comprises Axel Johnson International, KICKS, Martin & Servera (70%), Novax, Åhléns and the partly owned listed companies Axfood (50%) and Dustin (20%). Axel Johnson AB is owned by Antonia Ax:son Johnson and her family.

Number of employees in wholly and partly owned companies:
About 19,000
Sales in wholly and partly owned companies:
About SEK 79 billion


Axel Johnson – one of the largest Nordic companies in trade and services

Axel Johnson builds and develops profitable trade and service businesses in the European market, with a focus on the Nordic countries. Our operations employ jointly more than 19,000 people, and we are trading partners with thousands of companies worldwide, which makes Axel Johnson one of the largest trade and service companies in the Nordic region.

Axel Johnson has many companies in its six divisions.

Axel Johnson International is a commercial technology company with operations all over Europe. Through a large number of companies in market-leading positions, the division distributes industrial and consumer products to business customers.

Axfood offers groceries to much of the Swedish population through its network of stores and franchisees.

Åhléns’ and KICKS’ department stores and shops attract about 300,000 daily visitors.

Martin & Servera relates to consumers as a wholesaler to restaurants, cafeterias, hospitals and schools.

Novax invests in growth companies seeking a partner that can help them expand. Academic Work, ApoEx and Filippa K are some of the current investments.

Dustin is one of the leading Nordic resellers of IT products and additional services to companies, the public sector and private individuals. With commerce at its foundation, the Group has changed shape over the years, while the will and drive to change, combined with the long-term development of profitable businesses, remains intact. It is a company tradition on which Axel Johnson continues to build.

Our investments