The Sale of Varo to Indufin

Varo is an international do-it-yourself (DIY) hand tools and power tools company. The company designs, markets and distributes powered and non-powered DIY tools under its own brands as well as private label products. 

The company’s headquarters and warehouse are strategically located in Lier, near the port of Antwerp. Varo has offices and a quality centre in China, as well as offices in Hong Kong, Australia and Spain. Varo employs around 140 people globally. 

How we helped

Our PwC x-LoS Transactions team provided the client with vendor assistance, in part by demonstrating Varo’s stability from a tax and finance perspective. To bolster the client’s position as a highly valuable acquisition, our Corporate Finance team led the discussions with Indufin on the sales strategy.

PwC looked for the best fit during an auction process, focusing not just on the financial terms but also on the cultural fit between management and the financial sponsor. In the end, Indufin emerged as the preferred partner to provide Varo with the means to continue to pursue its international growth strategy.