GERMANY - BluO acquires Metro unit in EUR 10m deal

Metro bought Adler in 2004 for EUR 60m plus EUR 280m of debt, and is said to have handed the business over debt-free. Adler recorded sales of EUR 464m in 2008 across its 120 stores in Germany, Austria and Luxembourg. The company employs around 5,800 staff.

BluO was founded by Peter Loew, Martin Vorderwuelbecke and Markus Zoellner. Loew and Vorderwuelbecke are former chief executives of listed industrial holding Arques. The firm specialises in restructuring and turnaround situations in the DACH region and targets companies with sales of between EUR 90m-3bn. BluO held a closing of its first fund on EUR 300m in October 2008, and expects to hold a final close in Spring 2009 on EUR 600m.

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• Topics
• Buyouts
• DACH
• Industrials
• Consumer