DGAP-News: Willkie Farr&Gallagher LLP: Willkie Advises EQT Expansion Capital II on its investment in internetstores AG
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Willkie Farr&Gallagher LLP: Willkie Advises EQT Expansion Capital II
on its investment in internetstores AG
03.04.2012 / 15:17
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EQT Expansion Capital II ('EQT Expansion Capital') has agreed to invest EUR
30 million in one of the leading German online bike and outdoor products
retailer internetstores AG ('internetstores' or the 'Company'). As part of
the transaction EQT Expansion Capital will become a substantial minority
investor and will provide expansion capital to internetstores. The founder,
RenéKöhler, remains majority owner and will continue his successful work
to lead the growth of the Company. EQT Expansion Capital will facilitate
the exit of previous minority owner, which will be bought out entirely.
internetstores was founded in 2003 in Stuttgart by internet entrepreneur
RenéKöhler. Since then, the Company has developed into a leading online
bike and outdoor retailer with a large variety of brands covering a vast
assortment of over 50,000 products, targeting mainstream and sport
enthusiast customers. internetstores, driven by its brands fahrrad.de,
Brügelmann, Bikeunit and Bikester for bikes as well as CAMPZ for outdoor,
has a leading position in its key market Germany and continues to gain an
international market share, for instance in Switzerland, Austria and
France. internetstores is a pure-play online retailer, building its success
on online marketing expertise, strong logistics and a highly committed
team.
'internetstores is a very well-managed company which has outgrown the
venture stage to become a successful and sustainable market leader. The
Company is poised to take the next step on its development path and EQT
Expansion Capital is proud to be part of it', says Hjalmar Winbladh, serial
internet entrepreneur and Industrial Advisor to EQT Expansion Capital.
'Teaming up with EQT Expansion Capital feels great, I am really impressed
by their industrial experience and understanding of our business. Together,
we will be able to embark on the next level in internetstores' life cycle',
continues RenéKöhler, founder and majority owner of internetstores.
internetstores, headquartered in Stuttgart, is growing strongly and aims at
revenues of EUR 60 million in 2011/2012. The Company focuses on the bike
and outdoor market, both of which are growing at a rate of between 4 and
10% per annum in its core markets. internetstores' accelerated growth and
expansion further leverages on the high annual conversion from offline to
online shopping.
'Understanding retail concepts, sourcing, internationalization, logistic
and other organizational processes in a growing business is essential. EQT
Expansion Capital will be able to provide industrial expertise from
individuals within the EQT Industrial Network with long experience and
expertise from those areas', says Fabian Wasmus, Director and internet
sector specialist at EQT Partners, Investment Advisor to EQT Expansion
Capital.
The Willkie team advising was led by Jan Wilms (Frankfurt) and included
partners Mario Schmidt, Dr. Stefan Jörgens (both PE/Corporate/M&A,
Frankfurt), Rolf Hünermann (Corporate/Merger Control, Frankfurt) and Dr.
Christian Rolf (HR, Frankfurt) and associates Dr. Octávio de Sousa, Dr.
Stephanie Schmidt-Ehemann, Patrick Wacker, Daniel Zakrzewski (all
Corporate/Private Equity, Frankfurt), Jochen Riechwald (HR, Frankfurt)
Tobias Daubert and Mario Bammann (both Finance, Frankfurt).
Willkie Farr&Gallagher LLP is an international law firm of over 630
attorneys with offices in New York, Washington, Paris, London, Milan, Rome
Frankfurt and Brussels. The firm's headquarters are in New York at 787
Seventh Avenue, Tel.: 001 212 728 8000.
Frankfurt, March 30, 2011
End of financial news
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Datum: 03.04.2012 - 15:17 Uhr
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