AURELIUS acquires Danish Do-It-Yourself retail chain Silvan
- One of the largest Do-It-Yourself retailers in the Nordic region
- AURELIUS’ positioning as expert in corporate spin-offs and difficult carve-outs re-confirmed
- AURELIUS' presence in Scandinavia continues to pay off
Munich/Copenhagen, July 10, 2017 – AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) acquires retail chain Silvan from Danish Stark Group A/S (revenues of approx. EUR 2.5 billion in FY 2016), a subsidiary of Wolseley plc. Headquartered in Aarhus (Denmark), Silvan is a leading Do-It-Yourself (DIY) retail chain in Denmark employing approx. 1,400 people that generated 9 per cent of Stark Group’s revenues in 2016. The transaction is scheduled for completion in the third quarter of 2017.
Silvan, founded in 1968, is a Danish chain of DIY stores with a well-assorted product range for fitting, repairing and maintaining homes. Silvan operates 42 DIY stores and one E-commerce shop in Denmark, which makes it one of the largest DIY retailers in the Nordic region. The stores are strategically placed close to larger cities and include both building materials and a garden centre. Silvan has highest brand awareness and is the main brand among DIY customers in Denmark.
In the months following the closing of the transaction, the Silvan business will be carved out of Stark Group A/S and all requirements and functions for a stand-alone business will be built-up and implemented. Going forward, Silvan will continue to capitalize on the growing DIY market in Denmark and to expand and further professionalize its E-commerce activities.
"I'm very pleased that we have been able to again successfully execute a transaction in the Nordics, underlying our focus in this area. In addition, we again proved to be the preferred partner in a corporate spin-off," said AURELIUS Equity Opportunities board member Donatus Albrecht. "Silvan is a well-loved brand in Denmark, operating in a healthy market. As a non-core business under Stark ownership, Silvan will clearly benefit from the heightened attention it will receive under the AURELIUS umbrella. Our task force experts will help to ensure a successful, expeditious carve-out and then support management in bringing Silvan up to modern retail standards."