CVC Capital Partners Fund VII Signs an Agreement to Acquire STARK Group
CVC Capital Partners acquires STARK Group, with a strategic focus on being a trusted partner bringing scale advantages to professional craftsmen.
FREMONT, CA: CVC Capital Partners Fund VII signs an agreement to acquire STARK Group, a distributor of heavy building materials in Northern Europe. STARK Group has evolved quickly in recent years through acquisitions and organic growth, focusing on being a trusted partner bringing scale advantages to professional craftsmen. An affiliate of Lone Star Funds has owned the firm since April 2018.
Headquartered in Denmark, STARK Group is a pioneering B2B distributor of heavy building materials for the Nordics and Germany construction sector, with stress on serving professional craftsmen. The business collaborates with 10,000 suppliers to help c. 235,000 customers from about 400 locations in Denmark, Sweden, Norway, Finland, and Germany.
STARK Group is excited to partner with CVC to continue the journey it started together with Lone Star. The firm has enjoyed this collaboration, which has supported us in attaining strong growth over recent years. The company continues to see many opportunities for further development and expansion regarding further organic growth and via accretive bolt-on acquisitions in the markets in which it operates. It looks forward to benefitting from their industry expertise, strategic insights, and appetite to play a critical role in market consolidation.
CVC has followed STARK Group closely for several years and has been impressed with the qualits of the bpeopThe company is delighted to support the firm, looking forward to working closely with S¸ren P. Olesen and his team to grow STARK Group. The transaction relies on customary conditions and approvals and is forecasted to close in Q2 2021. Legal and financial terms are not disclosed.
STARK Group is a pioneering business-to-business distributor of heavy building materials for the Nordics and Germany construction sector, with a strategic focus on serving the professional craftsmen.