NPM Capital to sell Deli Home to Ardian

Eliza Punshi
07 April 2021

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Ardian has signed an agreement to acquire Dutch building supplies maker Deli Home from NPM Capital.

The deal comes five years after NPM Capital acquired a controlling stake in the company, having previously been a minority owner since 2006.

Mergermarket reported in November last year that NPM was basing the sale on the company's EBITDA figure of roughly €40m, and had appointed ING to advise on the sale process.

The deal is Ardian Expansion's first investment in the Netherlands. It deployed equity from Ardian Expansion Fund V, which held a final close on its €2bn hard-cap in September 2020.

Ardian plans to further pursue a buy-and-build strategy for Home Deli, which has previously acquired Dutch companies NumData and Weekamp Deuren.

Deli Home CEO Victor Aquina said in a statement that two of the key markets for the company were France and Germany, and that Ardian, "with its strong European footprint and network, is an ideal partner for us".

The transaction remains subject to regulatory approval.

Company
Founded in 1869 and based in Gorinchem, Deli Home is a producer and distributor of building supplies. It owns the brands CanDo, Skantrae, Weekamp, Lundia and Bruynzeel. The company has additional sales offices and production locations in Belgium, Portugal, the Czech Republic, Poland, France and Hungary.

It has revenues of around €350m and 1,250 employees.

People
Deli Home – Victor Aquina (CEO).
Ardian – Dirk Wittneben (head of expansion, Germany).

Advisers
Equity – Freshfields Bruckhaud Deringer (legal); Deloitte (financial due diligence); EY (tax); Roland Berger (commercial, operational due diligence); WDP (technology due diligence); PwC (ESG due diligence); ERM (ESG due diligence); ABN Amro (M&A).