About Novax

Novax is Axel Johnson’s investment company

Novax invests in small and medium-sized growth companies that are primary active in the sectors on which we focus: Health & Wellness, Technical Security, Food of the Future and Digital Infrastructure for Retail. We are active, long-term owners who focus on growth and contribute with industry knowledge, networks and an ecosystem providing expertise, shared knowledge and practical support.

Our philosophy

Good companies, a focus on sectors and a supportive ecosystem give us the best potential for our mutual success

Novax is part of Axel Johnson, a family business founded in 1873 and currently led by members of the fourth and fifth generations. Starting as a trading company, the form and shape of the group has evolved over the years. However, our resolve and driving force for change combined with the long-term development of profitable businesses has remained intact.

Novax’s mission is to contribute to Axel Johnson’s future by investing in, supporting and developing small and medium-sized companies with clear growth potential.

We look for the best companies and entrepreneurs in some carefully selected sectors. Our sector knowledge and long-term approach allows us to see potential beyond traditional business plans and planning horizons.

We invest in companies capable of creating value in the long term. They shall also have sound core values and a corporate culture that focuses on long-term and sustainable value creation.

We aim to provide the best support to companies and management teams in our focus sectors. We offer a valuable ecosystem of knowledge, competence and talent that permits us to share experiences and solve problems together. We have often noted how partners value our investment philosophy and our core values as much as competence and our work methods. We consider all aspects to be equally important.

We invest in companies that have become, or are well on the way to becoming, industry leaders and driving forces in developing technology, products, services and solutions to meet future needs. A common denominator for our companies is their ability to in various ways contribute to a better society.

A sector focus

We invest based on elaborate and well-founded theses about future trends

A thorough understanding and knowledge of sectors is what over time offer companies unique support. We have devoted a lot of time and thought to choosing sectors where we see long-term potential to build successful companies and create great value.

We invest in them according to a number of well-planned, well-grounded theses and ideas about future trends. We aim to play an active role in our sectors for the next 20-30 years or even longer, promoting real change towards a better society as a result.

Our focus sectors:

Health & Wellness
With our focus on health and wellness, we contribute to a healthier society and a better quality of life for the individual. We believe in making effective health-promoting products and services available that will lead to better well-being at home and in the workplace.

Technical Security
By investing in unique, smart and integrated infrastructure, we can spur the development of many strong trends in society. Digitisation and technological development, sustainability and the end consumer’s demand for smart and convenient solutions are driving this sector forward.

Food of the Future
At Novax we regard the food of the future as climate-smart foods that promote health. But it is also about reducing food waste. Novax invests in pioneering companies that help people eat in a healthier and sustainable way.

Digital Infrastructure for Retail
Technology and changes in consumer behaviour constantly alter the way consumers and companies deal with each other. We want to be involved in building the companies that are, or have the potential to become, key components in the digital infrastructure of a changing retail sector.

Although Novax invests intensively in four selected sectors, there is scope for unique growth companies in other areas. Axel Johnson, for example, has a strong tradition in trade and knowledge sectors.

A mutual ecosystem

Through an active exchange of knowledge and experience among the Novax companies and access to relevant cutting-edge expertise, we offer companies and people the best potential for success.

Knowledge and insights

We firmly believe that by creating the conditions for exchange of experience and providing quality assured tools and training, we help our organisations and employees achieve their full potential.

Mergers and acquisitions at all stages

We see acquisitions as a strategic growth tool and help our organisations work on acquisition strategies, find acquisition candidates and being an active support during the transaction process.

Strategic human resources and talent

Novax, including Axel Johnson, provides a unique arena in which employees and their careers can grow and develop. We invest in identifying, developing, rewarding and retaining talent. At Novax we regularly meet talented people whom we introduce to our companies.

Networks and forums

The Novax companies are an ecosystem in which the sum is greater than the parts. We share experiences, knowledge and best practice through networks, functional forums and training. Many challenges and solutions are sector-wide or relevant for most companies, which gives companies in our ecosystem greater resources and insights. 


We expect our companies to be the best at what they do, make ambitious and clear plans and be truly professional and well-managed. Of course, they are to follow laws and rules. We have experience, structure and processes to provide the right support to management.

Strategy and analysis

All Novax organisations are working towards a long-term vision. Together with the management, Novax ensures that the companies have goals, strategies and the potential to attain them.

Culture and values

Just as we care about the communities in which we operate, we also care about the well-being and long-term involvement of our colleagues. We believe in allowing people freedom and trust. This creates job satisfaction, pride and commitment.

Active support

We support and provide a sounding board for business leaders during all phases of entrepreneurship. Our combined experience, competence and commitment is always accessible. We give our companies access to research, networking and hands-on support in strategic, operational and financial projects and initiatives. 

A long-term partner

Long-term approach

Our long-term approach is a great advantage for us and our companies. It gives us the time and space needed to focus on what is best for the company in the long run. It also allows us to act unlike many other companies, looking beyond traditional planning and investment horizons. For example, we can advance positions during a recession or acquire a competitor with a supplementary offer.

The long-term approach creates security for our companies and a profitable future for us. It ensures that our incentives are in line with our companies. What is good for the company is good for us.

A partner for all stages

For us the current phase of a company is not a primary consideration. We invest at different stages – from small and early companies to later and medium-sized companies – and focus mainly on the potential of the company in the specific industry and sector. 

Of course, the processes and skills involved differ depending on whether the company is at an early or later stage. That is why we have a team with wide-ranging experiences.

By becoming involved at different stages, we gain a better picture and understanding of how markets and sectors work and what lies around the corner. We increase our understanding of technologies and different business models and create exciting ecosystems of people and talents.


Sustainability is an integral part of our business strategy, which means that we actively encourage our businesses to:

  • Adopt business models based on a high degree of resource efficiency, preferably with circular resource and material flows using renewable, recyclable or recycled resources and materials.
  • Strive to achieve socially and environmentally sustainable production through transparency, traceability and strong partnerships with actors throughout the supply chain.
  • Have a value-based empowerment and leadership that provides employees what they need to grow and thrive,
  • Be inclusive and innovative, which is why we actively promote diversity and equality.

We firmly believe that integrating sustainability into our business strategy is a crucial prerequisite for long-term success.

Axel Johnson

Axel Johnson – one of the largest companies in the Nordic region engaged in business within trade and service businesses

Novax is part of Axel Johnson, a family business founded in 1873 and currently led by members of the fourth and fifth generations.

Axel Johnson builds and develops profitable businesses in trade and services in the European market, focusing on the Nordic region. Together, our operations employ approximately 25,000 people, and we are trading partners with thousands of companies worldwide. In 2019 Axel Johnson’s consolidated sales reached approximately SEK 88 billion. This makes Axel Johnson one of the largest companies in the Nordic region engaged in business within trade and service.

Starting as a trading company, the form and shape of the group has evolved over the years. However, our resolve and driving force for change combined with the long-term development of profitable businesses has remained intact. Axel Johnson continues to build on this business tradition .

Go to www.axeljohnson.sefor more information.

We are looking for new,
exciting growth companies.

Would you like to introduce your company to us and learn more about how we work? Let us know!