Hg buys MeinAuto.de

The GP drew capital from HgCapital 8, a €2.5bn vehicle that generally focuses on companies with enterprise values of between €100-500m.

Hg said the investment is the first step in an initiative to build a service provider in the auto distribution and financing space.

MeinAuto became profitable for the first time in 2015 and generated net profit of €600,000 in 2016, according to publicly available documents.

Company
MeinAuto is a privately held company that runs an online platform for new car purchases in Germany. The company was founded in 2007 and is headquartered in Cologne, where it employs 70 people. The website records 16 million visitors per year and has connections with 9,000 dealers.

People
Hg – Florian Wolff (director).
MeinAuto – Alexander Bugge, Thomas Eichenberg (founders).

Advisers
Equity – Arma Partners (M&A).

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