Cinven sells Ahlsell to CVC Capital Partners
Cinven and GS Capital Partners today announce the completion of the sale of Ahlsell, the leading distributor of building products in the Nordic region, to CVC Capital Partners for SEK 15.5 billion (€1.8 billion). This follows the announcement in February 2012 of the signing of a definitive agreement to sell the business.
Cinven and GS Capital Partners invested in Ahlsell in January 2006 having identified the company as an excellent platform for growth and continued consolidation in the Nordic building products market. Despite challenging trading conditions, Ahlsell performed strongly during Cinven and GS Capital Partners’ ownership - with revenues and EBITDA up over 26% and 53% respectively – as a result of continued investment in the business; increased product diversification; and improved procurement processes. In addition, the company successfully acquired and integrated 25 companies in the region to reinforce its position as the pre-eminent Nordic building products distributor.