Company Information: 

Founded in 1982, Puuilo is one of the leading Finnish department stores selling tools, constructional goods and other products with a utilitarian function. In the background of the strongly growing company were the venture capital fund administered by Sentica Partners as well as the Tuomaala family and other key owners. The fund administered by Sentica Partners had been made the company’s majority owner by a business reorganization in 2011.

At the end of 2015, Puuilo had 15 stores around Finland, as well as an online store. The company achieved a turnover of approximately 75 M€ and employed ca. 240 persons. The range of products includes constructional goods, tools, car accessories, gardening equipment, pet food and equipment as well as household items. Puuilo especially speaks to do-it-yourself men and women, and the company is known for its consistently affordable prices and wide range of products.

Former Situation: 

The company had successfully carried out the business plan established in 2011. Sentica and the key owners perceived, that it was the right time to liquidate the return on investment and to sell the Company’s majority stake to the next entity.

The Process: 

During the business reorganization in 2011, we acted as advisor for the Tuomaala family, and very closely monitored the company’s development after the reorganization. As we were later identifying potential buyers and investors, we recognized Adelis Equity Partnes as a strong potential candidate to support the company’s further growth, especially due to Adelis’ strong knowledge of the retail field, their successful international resources and internationalization skills. 

We presented Puuilo to Adelis and our view on its development possibilities, after which we started collaboration with Adelis in order to implement a transaction. We acted as Adelis’ financial adviser, responsible for various areas of the transaction.

The Situation Today: 

Puuilo and its new owners intend to further accelerate the department store chain’s growth in Finland and to possibly expand its operations to the other Nordic Countries. Markku Tuomaala, CEO of Puuilo and the person with the largest ownership of the company, commented on Puuilo’s future plans: “We have experienced strong growth within the past few years and developed from a local player to a nation-wide operator. 

We see our collaboration with Adelis as a natural step, as Adelis provides us with a strong sparring partner and company management skills that contribute to our ability to continue implementing our growth strategy. Our goal is to double the amount of our stores in the coming years. The next new store will be opened in Oulu as soon as in early 2016.”