Hg launches automotive buy-and-build with Mobility Concept deal

The GP will merge the company with online car marketplace Meinauto.de using the newly created holding company Mobility Holding. The platform was set up to acquire businesses in the automotive distribution and financing space.

Hg will inject fresh equity from its buyout fund Hg Capital 8 to finance the transaction. The vehicle held a final close on its £2.5bn hard-cap in February 2017.

Hg said in a statement that the company sits in its investment sweet spot, with strong recurring revenues and a loyal customer base. Hg Capital 8 generally invests in companies with enterprise values of between £100-500m.

Company
Mobility Concept was founded in 2000 in Munich and is focused on B2B auto leasing, operating a fleet of approximately 25,000 vehicles under contract. It reported revenues of €246m for 2015 and employs 81 people, according to publicly available documents.

People
Hg – Justin von Simson (managing partner); Florian Wolff (director).
Mobility Concept – Naveen Kohli (CSO).

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