Waterland divests Ranger Marketing

Ströer expects Ranger to generate €10m in EBITDA from revenues of €70m for 2017. The company reported revenues of €96m when Waterland acquired it in 2010 but was not profitable.

Waterland increased efficiencies by focusing on digitalisation and growth in new segments. The number of employees decreased from 2,500 to 1,500 under its stewardship, though the company has also become profitable in this time.

The acquirer plans to support Ranger's focus on dialogue marketing and will add a new sales channel to its subsidiary Avedo Group. Ranger's management team will remain in their roles.

Ströer generated €254m in EBITDA from revenues of €1.12bn in 2016.

Previous funding
Waterland purchased a majority stake in Ranger in October 2010, drawing equity from Waterland Private Equity Fund IV.

Company
Dusseldorf-based Ranger markets products and tariffs directly to customers on behalf of firms such as Deutsche Telekom, Vodafone and RWE. It has 1 million customer contacts per month, according to a press release. It was founded in 1992 and employs 1,500.

People
Waterland Private Equity – Carsten Rahlfs (partner).
Ströer – Torsten Krause (CEO).
Ranger Marketing – Tobias Mehrer (CEO).

Advisers
Equity – Wilkie Farr & Gallagher (legal); Quarton International (M&A); PwC (financial due diligence, tax).

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