Adelis acquires Finnish discount retailer Puuilo together with the company’s management team

Adelis acquires Finnish discount retailer Puuilo together with the company’s management team

Adelis Equity Partners Fund I (“Adelis”) has agreed to acquire a majority stake in Puuilo Oy (“Puuilo”) from a fund managed by Sentica Partners (“Sentica”) and the company’s management team. The management team will retain their current roles and continue as significant minority owners in the company. 

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Seller: 
Puuilo Oy
Industry: 
Retail and consumer products
Buyer: 
Adelis Equity Partners
Industry: 
Other services

Adelis Equity Partners Fund I (“Adelis”) has agreed to acquire a majority stake in Puuilo Oy (“Puuilo”) from a fund managed by Sentica Partners (“Sentica”) and the company’s management team. The management team will retain their current roles and continue as significant minority owners in the company. 

Puuilo, founded in 1982, is one of the leading discount retailers in Finland. The fast growing company currently has 15 stores throughout Finland and a webshop. Puuilo has a wide product offering that comprises do-it-yourself/renovation related products, tools, car accessories, garden supplies, pet food and supplies as well as household goods. Puuilo is primarily focused on DIY customers and is known for its wide assortment and everyday low prices. The company has a turnover of approximately €75 million and employs 240 people.

“We have experienced significant growth in recent years and expanded from being a local player to a company with nationwide presence. The cooperation with Adelis is a natural next step in the development of the company. Adelis will be a strong sparring partner for us and the management competences Adelis brings to bear will be very valuable as we continue implementing our growth strategy. Our goal is to double the number of stores in the coming years. The next store is going to be opened already in March in Oulu”, says Markku Tuomaala, CEO of Puuilo.

“We are very impressed with Puuilo’s development and the achievements of the management team. The handymen and women of Finland can be sure to find a very wide assortment at a price guaranteed to be easy on the pocket when visiting the company’s stores. Our plan is to give all Finnish people access to this unique concept in the coming years. The company fits our investment criteria well and we look forward to developing the company together with management”, says Rasmus Molander of Adelis.

As part of the transaction, Tomas Franzén will invest in the company and take on roles as a Board member and advisor to the management team. Franzén has held various leadership positions at IKEA and is the former CEO of Biltema and ÖoB. The parties have agreed not to disclose the terms and conditions of the transaction, with the exception of the fact that the acquisition is subject to approval from competition authorities. 

ProMan Oy / IMAP Finland advised Adelis Equity Partners.