Ahlsell about to be sold to a British consortiumsTuesday, 31 January 2012
Swedish building product chain, Ahlsell is very close to being bought by the British investment company CVC in what will be the largest corporate transaction in the Nordic countries since summer 2011.
According to information provided to Reuters, and reported by various Swedish media organisations, CVC ended up first in the queue ahead of other stakeholders such as BC Partners, Bain Capital and Nordic Capital.
AdvertisementThe quartets were all biding for CVC which has now completed negotiations with the current owners of Ahlsell, Cinven and Goldman Sachs. The company is said to have been given four weeks to complete the transaction.
According information from the deal, Cinven and Goldman Sachs are reported to be seeking about Skr16 billion for Ahlsell. If the sale is for that price, it would mean a hefty profit for the sellers. The company was purchased for approximately Skr10.8 billion in 2005.
Ahlsell can now boast of the largest pure general store in northern Europe since the broadband company Freeserve changed hands last summer when BC Partners bought the company.
Ahlsell is the largest distributor of electricity, cooling and plumbing products in Sweden, with more than 230 stores in Sweden, Norway, Finland, Denmark, Estonia and Russia.
The company employs approximately 4500 employees and had sales of Skr14.7 billion during the first nine months of 2011, an increase of 5 percent over the previous year, according to its website. In 2010 Ahlsell had a turnover of Skr19 billion.
By Scancomark.se Team
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