Oakley acquires Seven Miles

The company's management team will retain a minority stake and continue to lead the company.

The firm is investing from its Oakley Capital IV fund for this acquisition. The fund closed on €1.46bn in July 2019 and invests a minimum of €50m in mid-market companies with enterprise values of up to €300m. Seven Miles is the fund's second acquisition following the MBO of Seagull & Videotel in May 2019.

The firm's London-listed feeder vehicle Oakley Capital Investments' indirect contribution through its interest in Oakley IV would be approximately £25m for this transaction, according to press reports.

Following the transaction, Oakley plans to support the management team in creating a digital platform and growing the company's product range.

The company expects to generate revenues of €100m in 2019.

Company
Founded in 2014, Seven Miles offers a range of gift cards and employee incentive subscription products to consumers and businesses. The company partners with more than 500 brands and is headquartered in Düsseldorf.

People
Oakley Capital – Peter Dubens (managing partner).
Seven Miles – Tom Schröder, Valentin Schütt (co-founders).

Advisers
Equity – Rothschild (corporate finance); Kirkland & Ellis (legal); Oliver Wyman (commercial due diligence); PwC (financial due diligence, tax). 

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