January 11, 2021
CVC will acquire 100% of STARK Group, a distributor of heavy building materials in Northern Europe.
Headquartered in Denmark, STARK Group is a B2B distributor of heavy building materials for the construction industry in the Nordics and Germany, with a focus on serving professional craftsmen. The business partners with 10,000 suppliers to serve its customers from more than 400 locations in Denmark (incl. Greenland), Sweden, Norway, Finland, and Germany.
Søren P. Olesen, CEO of STARK Group, said: “We are excited to partner with CVC to continue the journey we started together with Lone Star. We have enjoyed this collaboration, which has been instrumental in supporting us to achieve strong growth over recent years. We continue to see plenty of opportunities for further development and expansion both in respect of further organic growth and through accretive bolt-on acquisitions in the attractive markets in which we operate. We know CVC very well from the past and look forward to benefitting from their industry expertise, strategic insights and appetite to play an active role in future market consolidation. I could not imagine a better owner to support STARK Group going forward.”
Christoffer Sjøqvist, Senior Managing Director at CVC, added: “We have followed STARK Group closely for many years and have been impressed with the quality of the business and its people. We are delighted to be supporting the company going forward and look forward to working closely with Søren P. Olesen and his team to continue to grow STARK Group.”