Aurelius buys Distrelec and Nedis from Dätwyler

The corporate carve-out will allow Dätwyler to focus on its core business, the GP said in a statement.

Unquote sister publication Mergermarket reported in August 2019 that Dätwyler was reviewing strategic options, including the sale of the electronic components business.

In August 2019, Mergermarket reported that Dätwyler had mandated Lincoln International for the sale process. The business drew a reported valuation of CHF 130-210m and generated interest from trade buyers in the electronic components sector.

Aurelius declined to comment on the transaction.

Company
Distrelec and Nedis have combined revenues of €275m. The electronic components businesses reported an EBITDA margin of 3.3% in 2019, compared to 2.9% in the previous year. It reported 2018 EBIT of €13.1m.

Distrelec has operations in the UK and Switzerland, and employs 600 staff. It is a B2B distributor of electronic and technical components, with a focus on maintenance, repair and operational components. The business was founded in 1982 and operates in 15 European markets, as well as Switzerland and Sweden.

Nedis is based in 's-Hertogenbosch in the Netherlands. The business is an electronic products wholesaler, covering branches including computing, audio and smart living. It was founded in 1974 and rebranded in 2018. The company operates in markets including the Netherlands, France and Scandinavia. It has 250 employees.

People
Aurelius – Dirk Markus (CEO).
Distrelec – Steve Herd (CEO).
Nedis – Frits van der Fliet (CEO).

Advisers
Equity – PwC (M&A); OC&C (commercial due diligence); KPMG (tax); Lenz & Staehelin (legal); Linklaters (legal); Digatus (IT due diligence).
Vendor – Lincoln International (M&A).

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