Divestment of SILVAN to Aurelius
FIH Partners advised Wolseley plc, the world’s leading specialist distributor of building materials, on the carve-out and divestment of SILVAN, a leading Danish DIY retailer, to Aurelius, a listed German private equity firm.
Headquartered in Aarhus, Denmark, SILVAN operates 42 DIY branches nationwide in Denmark and one E-commerce shop, which makes it one of the largest DIY retailers in the Nordic region. SILVAN had a turnover of DKK ~1.6bn and ~1,400 employees in 2016.
The acquirer, Aurelius, is a listed German private equity firm focusing on acquiring European corporate spin-offs and medium-sized enterprises with growth potential given close operational assistance and below-average profitability and/or need for restructuring.
FIH Partners acted as exclusive financial advisor to Wolseley plc including:
- Assisting the company in preparing for a carve-out of all assets relating to the SILVAN brand
- Assisting the company in preparation of marketing, sales and company presentation materials for potential buyers
- Arranging a competitive structured sales process targeted towards a broad audience of both industrial and financial buyers, including early-look meetings with most obvious potential buyers
- Negotiating final terms of the transaction
The parties have agreed not to disclose the value of the investment.