Stockholm (HedgeNordic) – Luxembourg-based activist fund Accendo Capital, founded and managed by Henri Österlund (pictured), has increased its stake in Hexatronic Group, a Swedish technology group specializing in fiber communications.

Following the transaction, Accendo Capital owns 4.720.109 shares corresponding to 13.7 percent of capital and votes, according to a press release.

On September 29, Hexatronic announced Accendo Capital as a new significant shareholder, holding 7 percent of the shares, which also translated into Accendo taking a place in the company´s nomination committee.

As of September 2016, Accendo Capital had gained 20.5 percent year-to-date building on gains of 49 percent from the previous year.