Sentica takes majority stake in Puuilo

The deal, which has given key employees a 20% stake in the company, leaves the founders with a 25% shareholding. Puuilo's management will remain in their current positions.

Eero Leskinen, investment director at Sentica, stated that the company's business model remains successful during economically difficult times with price-conscious customers. Sentica aims to grow the company organically and through add-on acquisitions and hopes to double its turnover over the next five years.

Debt
The deal was financed with debt from an undisclosed source.

Company
Family-owned Puuilo, established in 1982, started as a carpenter's workshop and has grown over the years to become a mid-sized retail chain. Operating seven stores throughout Finland, the company employs around 130 staff and expects its revenue to reach €35m in 2011.

People
Investment director Eero Leskinen and investment manager Antti Keränen worked on the deal for Sentica. Leskinen will support Puuilo's management as chairman of the board. Markku Tuomaala is the CEO of Puuilo.

Advisers
Equity – Ernst & Young (Financial due diligence); Bird & Bird (Legal).

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• Topics
• Nordics
• Buyouts
• Consumer
• Finland