Axel Bonning

Senior Associate, Stockholm

Private Equity, Private M&A


Axel Bonning is a Stockholm-based Senior Associate and a member of the firm’s Private M&A practice, focusing on M&A and private equity. Axel is regularly involved in various Nordic and cross-border transactions, representing both private equity sponsors and corporate investors, and has also experience from advising on general corporate and commercial matters. His working experience includes working for a Nordic private equity firm.


This is what clients say about Axel:

“Axel consistently shows a desire to support to the full extent of his considerable capabilities.”
– The Legal 500 2022, Commercial, Corporate and M&A

“Knowledgeable; proactive; dedicated.”
– IFLR1000 2020/2021 (31st edition)

“Axel Bonning definitely walks the extra-mile- excellent performance for a senior associate.”
– The Legal 500 2020, Commercial, Corporate and M&A

Work highlights

Axel Bonning’s experience includes advising:

  • GRO in its acquisition of DigitalRoute;
  • Sprints Capital in its investment in Modular Finance;
  • Kinnevik, Verdane and Summa Equity in the combination between Mathem and Oda;
  • GRO in the sale of Tacton to Rubicon Technology Partners;
  • GRO in its strategic investment in Curity;
  • GRO in its investment in Paligo;
  • Ontario Teachers’ Pension Plan in Kry’s USD 160 million convertible loan financing;
  • Volkswagen in Northvolt’s USD 1.1 billion capital raise;
  • IK Partners in the acquisition of FCG Group;
  • Nalka in its acquisition of CERTEGO from ASSA ABLOY;
  • Volkswagen in Northvolt’s USD 2.75 billion equity financing;
  • LMK Group (Linas Matkasse) and the main shareholder Herkules Capital in the initial public offering of LMK Group’s shares and listing on Nasdaq First North Premier Growth Market;
  • Volkswagen in Northvolt’s USD 600 million equity capital raise;
  • Stena Adactum and Altor in the public offer for Gunnebo;
  • Volkswagen in Northvolt’s USD 1 billion capital raise.

Roschier (2015-)
Altor Equity Partners, Visiting Lawyer (2017)


Umeå University, LL.M. (2015)


English, Swedish