Silvan gets bought out by Aurelius Equity Opportunities.

Aurelius Equity Opportunities, a pan-european turnaround investor and asset manager based in Germany, announced the acquisition of the retail chain Silvan from Danish Stark Group A/S.

Danish Stark is a subsidiary of Wolseley plc. headquartered in Aarhus, Denmark and had revenues of approx. EUR 2.5 billion in FY 2016.

Silvan is a leading Do-It-Yourself (DIY) retail chain in Denmark employing 1,400 people that generated 9% of Stark Group’s revenues in 2016.

The financial details of the transaction remain undisclosed and the deal is scheduled for completion in the third quarter of 2017.

Silvan, founded in 1968 and led by CEO Freddy Lauridsen, is a Danish chain of DIY stores with a well-assorted product range for fitting, repairing and maintaining homes. Silvan operates 42 DIY stores and one E-commerce shop in Denmark, which makes it one of the largest DIY retailers in the Nordic region. The stores are strategically placed close to larger cities and include both building materials and a garden centre. Silvan has highest brand awareness and is the main brand among DIY customers in Denmark.