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CVC’s Ahisell to list on Nasdaq Stockholm

CVC Capital Partners’ portfolio company Ahlsell, a Nordic distributor of products within heating, ventilation and air conditioning, plumbing, electrical, and tools and supplies, is to launch an initial public offering (IPO) of its shares on Nasdaq Stockholm.

For the 12 months ended 30 June 2016, Ahlsell generated net sales of SEK23.2 billion, adjusted EBITA of SEK2.0 billion and operating cash flow of SEK2.1 billion.
In order to further support Ahlsell’s strategy and continued evolution based on organic growth and M&A, with 51 acquisitions since 2003, the company’s principal shareholder CVC funds, the board and the management team consider a listing to be a logical next step.
The IPO will expand the company’s shareholder base and enable access to the Swedish and international capital markets to support continued growth. CVC funds will retain a significant stake following the IPO and intends to continue to support the company’s development going forward.
Nasdaq Stockholm has reviewed the company’s application for the listing which, subject to market conditions, is expected to occur following delivery of the interim report for the third quarter of 2016.
Johan Nilsson, president and CEO of Ahlsell, says: “After 22 years in the industry and eight years with Ahlsell, I am very enthusiastic about taking this next step in the company’s journey. Led by the Swedish operations, we have built a truly unique model in the Nordic region, enabling an attractive value proposition towards customers and suppliers, and strong competitive advantages. We have implemented important measures to further strengthen our position across our three core markets Sweden, Norway and Finland, extending the customer offering and solidifying our platform for continued profitable growth. I am excited about what we have achieved and the many opportunities ahead.”
Kenneth Bengtsson, chairman of the board of Ahlsell, says: “Ahlsell enjoys a position of strength in the market due to its scale, breadth and the unique model that has been carefully and methodically developed over time. I have strong confidence in the ability of our management team to drive the company’s performance to the next level, leveraging the experience from our Swedish operations to further deploy the Ahlsell model in full across all our core geographies. With a strong financial track record across varying market conditions and support from favourable long-term demand trends, the potential for continued stable, profitable and cash generative growth is significant.”

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