Wolseley provides exit again

CVC Capital partners is selling DT Group, Norway’s largest distributor of building materials. Wolseley, a UK-headquartered distributor of building materials and heating and plumbing equipment is buying the business for €1.5m. CVC Capital Partners originally invested in the company in May 2003. The returns on the sale and original price paid are undisclosed. Since 1996, CVC has been the most active private equity firm in Europe, with CVC funds investing some US$7bn in buyout transactions. This is not the first private equity exit that Wolseley has facilitated in its sector. Last year, Wolseley bought both the Scottish-based electrical supplier William Wilson, and Encon, a UK-based insulation distributor, from 3i.