Private equity firm CVC Capital Partners said Wednesday it will pay €1.8 billion ($2.4 billion) for technical products wholesaler Ahlsell AB from European buyout firm Cinven Ltd. and Goldman Sachs Capital Partners in Europe's largest private equity deal in almost a year.

Ahlsell, which is based in Stockholm, Sweden, has 4,500 employees, with 220 outlets across the Nordic region, including Denmark, Estonia, Finland, Norway, Russia and Sweden. Last year, the company had an operating income of €192 million, with revenue of €2.3 billion, from the sale of goods and services in the heating, plumbing, electrical, tools and machinery sectors.

The sale represents the largest in Europe since BC Partners bought Sweden's Com Hem last July, said CVC, which is based in London.

CVC, which manages funds on behalf of over 300 investors globally, owning 55 companies worldwide, will contribute about €800 million of equity to Ahlsell, Bloomberg said.

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