Gilde's Gundlach Automotive sells Goodwheel to trade

Hendrik Salewski, managing director of TS Rochen and former managing director of Reifen24 (which was part of the now-insolvent Germany-based operations of Bain's Fintyre), was a co-founder of Goodwheel.

Following the sale, Gundlach plans to continue its focus on the B2B business.

The deal is valued at €25-50m and the company saw interest solely from strategic corporate investors, according to a source familiar with the situation.

Gilde bought Gundlach Automotive from its parent company Pon Holding in 2018. The company reported EBITDA of around €17m at the time, according to Unquote sister publication Debtwire.

Gundlach reported revenues of more than €300m in 2018, according to publicly available documents, compared with €241.7m in 2017. It reported EBIT of €10.1m in 2018, up from €7.7m the year before.

Gilde and Gundlach's legal advisers, Taylor Wessing, declined to comment when contacted by Unquote.

Company
Goodwheel is an online B2C tyres retailer based in Raubach, Germany. Founded in 2006, the company sells tyres for cars, motorbikes and e-scooters, allowing customers to search brands including Continental and Dunlop based on their requirements.

People
Gundlach Automotive – Peter Schwibinger (CEO).
Gilde Buy Out Partners – Arseni Podgaetski (investment manager).
TS Rochen – Hendrik Salewski (managing director).

Advisers
Vendor – Taylor Wessing, Philip Cavaillès, Till Schwichtenberg, Daniel Schrembs (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• DACH
• Consumer
• Partial sale
• Germany
• Gilde Buy Out Partners