WASCO
Acquired by
REXEL
WASCO acquired by REXEL
Target
WASCO
Acquirer
REXEL
Context
Rexel is expanding in the Netherlands by acquiring Wasco, a leading HVAC distributor. With this acquisition, Rexel will double in size in the Netherlands, which will become the Group's fourth largest country.
WASCO, which reported an EBITDA margin of LOGIN in 2022, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN discount to the 11.1x average currently observed in the Business Services sector.
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Target
Wasco is a leader in the distribution of climate control products at the heart of the energy transition in the Netherlands. In 2023, Wasco operated 35 branches and two distribution centers in the Netherlands, generating revenue of approximately EUR540 million over the twelve months to the end of April 2023, 60% of which was generated through digital channels.
Ent. Value
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Equity Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with WASCO
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