CMS Derks Star Busmann has advised the Solar Group on its € 56 million acquisition of Vegro, the leading Dutch HWS (hot water systems) supplier, from NPM Capital and Cobepa.
As a result of the acquisition, Solar has become one of only two nationwide technical wholesales offering electrical, heating and sanitary components and integrated solutions in the Dutch market.
Through the acquisition of Vegro, Solar expects to increase its revenue for 2008 by approximately € 55 million and EBITDA by approximately € 2.5 million, including restructuring costs.
Solar, headquartered in Kolding, Denmark, is one of Northern Europe's electrical and HWS components as primary product areas with revenues equalling € 1,367 million in 2007 with subsidiaries in Denmark, Sweden, Norway, Finland, the Faroes, Germany, the Netherlands and Poland.
Corporate partner Roman Tarlavski led the team comprising Reinout Slot, Yana Levin, Jan Willem Huizink (all Corporate), Luurt Wildeboer (Environmental), Manfred de Kook (Property), Martijn van de Hel (Competition) and Barbara Veldmaat (Employment).