Nordwind Capital, a German private equity company, and Value Management Services, an Austrian private equity firm are buying COSMOS, an electronics retailing chain in a 50/50 partnership deal
Under the terms of the deal, Value Management is to place 100 percent of the shares it holds in Niedermeyer, also a consumer electronics retailer, into a joint holding.
No financial details were disclosed.
It is the second transaction by Nordwind Capital Fonds, a €300 million fund raised in 2004. Value Management Services split the deal between its REB I and REB II funds.
Cosmos has revenues of about €260 million in 2005 and a market share of
8.4 percent. It is Austria’s second-largest consumer electronics chain, operating 27 superstores in the country.
Niedermeyer is the fifth-ranked player in Austria’s market for consumer electronics with revenues of €200 million.
Together with Cosmos, the deal will create one of the largest groups in Austria’s consumer electronics trade with a total market volume of €3.1bn. The two private equity group said they hope to realise significant synergies.