Ahlsell (Swedish industrial distribution)

exited

Industrial / Distribution — CVC Capital Partners

Deal Terms

Entry Year2012

Entry EV$2.2B

Entry Multiple10x

Leverage5x

Debt Amount$1.1B

Outcome

Exit Year2021

Risk Metrics

LTV (est.)50%

Debt / EV0.50x

Notes

CVC bought Nordic industrial distributor for SEK ~15B (2012). IPO'd 2016. Quant fund Hexagon AB made hostile $3.7B bid — CVC sold remaining stake. Rare PE success in European industrials. CVC tripled its money. But the success was driven by Nordic market stability and monopoly-like distribution position, not PE 'operational improvement.'

Sponsor

CVC Capital Partners$185B AUM