Eurazeo, a leading global investment company listed in Paris, in
partnership with West Street Capital Partners VII, a fund managed
by the Goldman Sachs Merchant Banking Division (“GS MBD”), is
pleased to announce the acquisition of Dominion Web Solutions
(“DWS”), an integrated platform of branded marketplaces and digital
marketing solutions for the powersport, RV, commercial truck and
equipment industries, for $680M. This is the first investment for
Eurazeo in the U.S. since opening its North America headquarters in
September 2016. The transaction is expected to close in June
2017.
Dominion Web Solutions, owned by Landmark Media Enterprises, has
achieved significant scale with over 6,700 dealers, ~4M unique
listings and over 7M average unique monthly visitors across its
platforms, which include RV Trader and Cycle Trader among other
Trader properties. The company has a track record of double-digit
revenue growth.
“DWS has already built a market leading platform and we see
tremendous opportunity to continue to add new and improve existing
services to dealers and consumers and to target new customers,”
said Virginie Morgon, deputy CEO of Eurazeo and president and
CEO of Eurazeo North America. “Additionally, the company is
well positioned to benefit from increased marketplace adoption and
the continuing shift from traditional to digital advertising by
dealers.”
“Dominion Web Solutions is excited to join the Eurazeo and GS
MBD family,” said Lori Stacy, president of Dominion Web
Solutions. “With their experience and long-term strategic
vision, Eurazeo and GS MBD are ideal partners to help us enhance
our platform and accelerate our growth.”
“We are excited to work with the management team and Eurazeo to
further develop the DWS story and take advantage of both organic
and transformational growth opportunities,” added Harsh Nanda,
managing director of Goldman Sachs.
Eurazeo and GS MBD will each acquire a 50% equity stake in DWS.
The partnership will provide the company with strategic,
operational and financial support for growth, including for
potential acquisitions in adjacent markets and internationally. The
investors will take an active shareholder role and work closely
with the management team on future initiatives.
“As Eurazeo’s first acquisition in the U.S., it provides a
strong foothold for our firm’s future,” added Morgon. “This
investment is an example of the companies we aim to invest in and
partner with – high quality enterprises with strong management
teams and long-term transformational growth opportunities.”
About Dominion Web
Solutions
Dominion Web Solutions is the leading online classifieds
marketplace and marketing software solutions provider to commercial
and recreational dealers. Its mission of bringing buyers and
sellers together remains the core of its businesses. DWS is
committed to providing innovative products to ensure that customers
generate leads, drive sales and maximize profits. Its B2C brands
consist of Cycle Trader, RV Trader, ATV Trader, PWC Trader,
Snowmobile Trader, and Aero Trader, producing over 7 million unique
visitors monthly. Additionally, its industry leading B2B brands
consist of Commercial Truck Trader, Commercial Web Services,
Equipment Trader, RV Web Services and focus on supporting its
dealers and manufacturers with driving impressive results as top of
mind. Dominion Web Solutions has 10 businesses and approximately
300 employees with its home office located in Norfolk, VA.
About Eurazeo
With a diversified portfolio of approximately €6 billion in
assets under management, of which €1 billion is from third parties,
Eurazeo is one of the leading listed investment companies in
Europe. Its purpose and mission is to identify, accelerate and
enhance the transformation potential of the companies in which it
invests. The Company covers most private equity segments through
its four business divisions – Eurazeo Capital, Eurazeo Croissance,
Eurazeo PME and Eurazeo Patrimoine. Its solid institutional and
family shareholder base, robust financial structure free of
structural debt, and flexible investment horizon enable Eurazeo to
support its companies over the long term. Eurazeo is notably a
shareholder in AccorHotels, ANF Immobilier, Asmodee, CIFA,
Desigual, Elis, Europcar, Fintrax, Grape Hospitality, Les Petits
Chaperons Rouges, Moncler, Neovia, Novacap, Sommet Education, and
also SMEs such as Colisée, Péters Surgical, and Flash Europe
International, as well as start-ups such as Farfetch and Vestiaire
Collective.
Headquartered in New York, Eurazeo’s North America office opened
in September 2016 to identify, invest in and enable the growth of
high potential U.S. mid-market companies in the consumer goods and
business services sectors, as well as support the international
development of Eurazeo’s portfolio companies. As a global long-term
shareholder, the firm offers deep sector expertise, a gateway to
global markets, and growth-oriented value creation to the companies
it supports. The U.S. team, managed by Virginie Morgon, Deputy CEO
of Eurazeo and President and CEO of Eurazeo North America, is
comprised of six investment professionals and two senior
advisors.
Eurazeo is listed on Euronext Paris. ISIN: FR0000121121 -
Bloomberg: RF FP - Reuters: EURA.PA
For further information, please visit our website:
www.eurazeo.com.
Follow us on Twitter, Linkedin, and YouTube.
About GS MBD
Founded in 1869, the Goldman Sachs Group, Inc., is a leading
global investment banking, securities and investment management
firm. Goldman Sachs Merchant Banking Division (GS MBD) is the
primary center for the firm’s long-term principal investing
activity. With nine offices across seven countries, GS MBD is one
of the leading private capital investors in the world with equity
and credit investments across corporate, real estate, and
infrastructure strategies. Since 1986, the group has invested over
$170 billion of levered capital across a number of geographies,
industries and transaction types. Founded in 2016, West Street
Capital Partners VII is its newest corporate equity fund.
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version on businesswire.com: http://www.businesswire.com/news/home/20170510006147/en/
For EurazeoJulia Sahin, 212-738-6131Julia.Sahin@edelman.com
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