Add-on Acquisition • Distribution

Rexel Acquires Wasco

On May 30, 2023, Rexel acquired distribution company Wasco from Gilde Equity Management for 485M EUR

Acquisition Context
  • This is Rexel’s 25th transaction in the Distribution sector.
  • This is Rexel’s largest (disclosed) transaction.
  • This is Rexel’s 1st transaction in the Netherlands.

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M&A Deal Summary

Date May 30, 2023
Target Wasco
Sector Distribution
Buyer(s) Rexel
Sellers(s) Gilde Equity Management
Deal Type Add-on Acquisition
Deal Value 485M EUR

Target Company

Wasco

Twello, Netherlands
Wasco is a distributor of plumbing and heating equipment. The Companyhas 35 branches, 2 distribution centers and a strong digital platform. Wasco is based in Twello, The Netherlands.
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Buyer Overview 1

Buyer

Rexel

Paris, France

Category Company
Founded 1967
Sector Distribution
Employees26,804
Revenue 19.3B EUR (2024)
DESCRIPTION

Rexel is a distributor of electrical parts and supplies. The Company supplies customers involved in residential, commercial and industrial construction, maintenance and renovation and currently has a network of approximately 1,700 branches in 29 countries, providing over 1.2 million products and related services. Rexel was founded in 1967 and is based in Paris, France.


Deal Context for Buyer #
Overall 30 of 32
Sector: Distribution 25 of 27
Type: Add-on Acquisition 26 of 28
Country: Netherlands 1 of 1
Year: 2023 3 of 3
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-17 LTL

Toronto, Ontario, Canada

LTL is a privately owned Canadian company serving the utility, industrial and commercial sectors. LTL was founded in 1958 and is based in Toronto, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-30 Itesa

Marseille, France

Itesa is a distributor of alarm and electronic security systems. Itesa was established in 1978 and is based in Marseille, France.

Buy -

Seller Profile 1

SELLER

Gilde Equity Management

Houten, Netherlands

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1982
PE ASSETS 500M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Gilde Equity Management Benelux (GEM) is a unit of Gilde Investment Management, a Dutch investment firm. Gilde Equity Management (GEM) is a generalist investor, focusing on buyouts of mid-market growth companies valued between €20 and €200 million. Broad sectors of interest include services, consumer goods, manufacturing, and industrial products. Gilde looks for investments across the Benelux region. GEM was formed in 1992 and is headquartered in Houten, the Netherlands.


Deal Context for Seller #
Overall 30 of 31
Sector: Distribution 1 of 1
Type: Add-on Acquisition 18 of 18
Country: Netherlands 25 of 25
Year: 2023 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-21 Priogen

Amsterdam, Netherlands

Priogen is an energy trading company with very strong capabilities in predicting short-term (renewable) energy prices up to two weeks. In a highly complex energy market, highly skilled and experienced traders, data analysts and meteorologists, supported by proprietary models, enable Priogen to make fact-based, future-proof and profitable trading decisions. Priogen was founded in 2009 and is based in Amsterdam, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-20 Vescom

Deurne, Netherlands

Vescom develops, produces and distributes high-quality interior products for the international contract market especially wallcovering, upholstery fabrics and curtain fabrics. Vescom was founded in 1971 and is based in Deurne, Netherlands.

Buy -