Invision backs Planet Sports

Planet Sports was formerly part of 21sportsgroup, a former portfolio company of Cipio Partners, which acquired a stake in the business in January 2016 via a growth capital round. ESO Capital injected €15m into the company in October 2016. Cipio exited the company in 2020, according to its website. 21sportsgroup also filed for insolvency in February 2020.

Oliver Garnier, who has been director of retail, buying and marketplace at Planet Sports since 2008, will take over the company's operational management, according to a statement.

TonerPartner is an online retailer for printer toner and ink headquartered in Germany. The company will support the company through its expertise in e-commerce, according to a statement.

Unquote sister publication Mergermarket cited a report from German language trade publication Textilwirtschaft in May 2020 stating that Planet Sports had been acquired out of insolvency by an undisclosed group of investors.

Mergermarket reported in July 2019 that 21sportsgroup was exploring sale options for the company, advised by Lincoln International. However, Planet Sports filed for insolvency in February 2020, with Axel Bierbach of Müller-Heydenreich Bierbach & Kollegen was appointed as insolvency administrator.

Invision is currently deploying equity from its sixth fund, which held a final close in February 2019 on €375m. The vehicle writes equity cheques of €25-45m, targeting DACH-based companies with revenues of €25-200m. The deal will mark the fund's third platform investment. According to Unquote Data, the vehicle plans to make 10-12 deals in total.

Previous funding
In November 2010, Planet Sports became part of Carlyle's Puccini Group when it was acquired via Carlyle Europe Partners III from Primondo Speciality Group. Carlyle sold Planet Sports to 21sportsgroup in March 2015.

Company
Founded in 1993, Planet Sports is an online sportswear retailer, specialising in outdoor clothing and board sports. The company is based in Munich but also operates via a retail site in Cologne, having closed nine of its previous 10 retail outlets as part of insolvency proceedings. The company has 62 employees.

People
Planet Sports – Oliver Garnier (director of retail, buying and marketplace).

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• Buyouts
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• Invision Private Equity AG