Acquisition of Puuilo from Sentica Partners
Puuilo is one of the leading discount DIY retailer in Finland. The Company’s product offering consists mainly of tools and building products (60-70 % of turnover) as well as household goods (30-40 % of turnover). 01/2016 Puuilo’s revenue was c. 75 M€ and EBITDA c. 12 %. The company has a CAGR of c. 19 %.
At the time Puuilo had 15 stores and a webshop and it employed over 200 people. The company has a differentiated retail concept and gives customers real value through reliably low prices and a comprehensive assortment. The company’s well functioning leasing model for opening new stores and a motivated management team make Puuilo very competitive and flexible. The customer base comprises mainly of consumers that are interested in DIY, as well as small contractors.
Our main value creation components were:
- Initiation of the process through the best fit for Adelis investment strategy
- Business plan verification together with the management
- Assisting in deal structuring and negotiations around SHA commercial terms regarding the seller’s commitment (bad leaver / good leaver, work obligation etc.)
Puuilo is an excellent addition to Adelis’ portfolio for its value creation potential – it matches Adelis’ investment criteria and it has a management team that is strongly committed to the growth strategy. For Puuilo, Adelis is an experienced and competent partner to achieve the future’s growth targets.
Adelis Equity Partners
Adelis Equity Partners has 1.0 B€ of assets under management. Adelis’ investment focus is on Nordic based, middle-market companies with substantial value creation potential. The companies it invests in are active in the business services and niche industrials as well as consumer and healthcare sectors. Adelis’ headquarters are located in Stockholm. It also has an office in Copenhagen.