Eurazeo, one of the first investment companies listed in Europe, is pleased to announce the acquisition, in partnership with West Street Capital Partners VII, a fund managed by Goldman Sachs Merchant Banking Division (GS MBD), of the company, Dominion Web Solutions (” DWS “), an integrated platform of marketplaces and solutions for digital marketing for the leisure vehicles, commercial trucks, and equipment, for $ 680 million. This is the first investment of Eurazeo in the United States since its introduction in North America last September. The transaction is expected to be completed in June 2017.
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Dominion Web Solutions, until then owned by Landmark Media Enterprises, has already reached a significant size with more than 6,700 dealers, approximately 4 million ads and 7 million unique visitors per month on average on all of its sites, such as RV Trader and Cycle Trader. The company has a history of sales growth to two digits.
“DWS has already managed to build a platform of leading on the market and we are convinced that there is a strong opportunity to continue to improve existing services, provide new services to resellers as well as consumers, but also target new customers,” said Virginie Morgon, executive director of Eurazeo and Chairman of Eurazeo North America. “The company is also well positioned to benefit from the increasing use of market places and the postponement of the progressive traditional advertising towards the digital model.”
“Dominion Web Solutions is looking forward to the idea of joining the family of Eurazeo and Goldman Sachs,” said Lori Stacy, president of Dominion Web Solutions. “With their experience and their long-term strategic vision, Eurazeo and Goldman Sachs partners are ideal to help us optimize our platform and accelerate our growth. ”
“We are extremely pleased to be working with the management team of DWS and with Eurazeo to continue to write the history of DWS and take advantage of growth opportunities, both organic and transformational,” adds Harsh Nanda, managing director of Goldman Sachs.
Eurazeo and GS MBD will acquire everyone a participation of 50% of the share capital of DWS. This partnership will bring to the company strategic support, financial and industrial to continue its growth, including for potential acquisitions in related markets as well as internationally. Investors will play a role of active shareholder and will work closely with the company management on future initiatives.
“This first acquisition in the United States is for the future of Eurazeo a first solid reference,” adds Virginie Morgon. “This investment is a perfect example of the societies in which we want to invest to be partners : high-quality companies with management teams that are solid and opportunities of transformation for a long-term growth. ”
About Dominion Web Solutions
Dominion Web Solutions is one of the leading marketplaces online and software solutions provider for professionals from the sectors of commercial vehicles, leisure and recreation. The relationship of the buyers and sellers remain at the core of its activity. DWS provides innovative solutions to foster new business opportunities, boost sales and optimize the benefit of its customers. Its brands B2C – Cycle Trader, RV Trader, ATV Trader, PWC Trader, Snowmobile Trader, and Aero Trader, generates over 7 million unique visitors per month. Its brands B2B industry leaders, Commercial Truck Trader, Commercial Web Services, Equipment Trader, RV Web Services, provide support to resellers and industrial, with a permanent concern of the result. Dominion Web Solutions comprises of 10 activities and approximately 300 employees. It is headquartered in Norfolk, Virginia.
About Eurazeo
Eurazeo is one of the first investment companies listed in Europe, with approximately € 6 billion in diversified assets under management, of which one billion for the account of third parties. Its mission is to detect, accelerate and enhance the potential of transformation of the companies in which it invests. Eurazeo is present on the different segments of the capital investment through its four divisions – Eurazeo Capital, Eurazeo Growth Eurazeo PME and Eurazeo Patrimoine. Its institutional shareholders and family, its solid financial structure without debt structural and investment horizon flexible allows us to support companies in the long term. In particular, it is the shareholder of AccorHotels, ANF Immobilier, Asmodee, ATTC, CPK, Desigual, Dominion Web Solutions (DWS), Elis, Europcar, Fintrax, Grape Hospitality, Les Petits Chaperons Rouges, Moncler, Neovia, Novacap, Top Education, and also of SMES, such as the Colosseum, Péters Surgical, a Flash Europe International, and start-ups such as Farfetch and Vestiaire Collective.
Eurazeo is listed on the Euronext Paris. ISIN : FR0000121121 – Bloomberg : RF FP – Reuters : EURA.PA
About Eurazeo North America
Based in New York city since September 2016, Eurazeo North America has a mission to identify, invest and support the growth of u.s. companies of mid-size and high potential in the sectors of consumer goods and services companies, as well as promoting the international development of companies in the portfolio of Eurazeo. Shareholder of long-term, Eurazeo contributes to the companies that accompany its deep industry-specific experience, a privileged access to global markets, as well as an approach to the creation of value based on growth. The american team, led by Virginie Morgon, Executive Director of Eurazeo and Chairman of Eurazeo North America, today brings together 6 investors and 2 senior advisors.
About Goldman Sachs MBD
Founded in 1869, Goldman Sachs is a global investment bank. Goldman Sachs Merchant Banking Division (MBD) is the main hub of activity in terms of long term investment. With 9 offices in 7 countries, MBD is one of the first private investors in the world, with investments in equity and debt in companies, real estate and infrastructure. Since 1986, the group has invested more than $170 Bn resulting from its fundraising, in a large number of geographies, industries and transaction types. Created in 2016, West Street Capital Partners VII is the latest fund dedicated to the capital investment in the business.
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