Waterland to acquire Yieldkit

According to a filing with the German competition authority dated 22 December 2020, Waterland will acquire a controlling stake in the business.

The deal is a new platform investment from Waterland Private Equity Fund VII, a source close to the situation told Unquote. The vehicle held a final close in August 2017 on €2bn. The fund makes equity investments of €2-25m, targeting Europe-based mid-market businesses with buy-and-build opportunities.

Yieldkit is expected to generate revenues of €40m in 2021, the same source said.

Waterland held a final close for its eighth flagship fund in December 2020 on its hard-cap of €2.5bn, as reported by Unquote. The fund is to follow the same investment strategy as its predecessor vehicle.

Waterland announced in December 2020 that Germany-based portfolio company Median Kliniken had acquired UK-based Priory Group in a £1bn deal, as reported. The deal is expected to close in January 2021 and is the 22nd bolt-on for Median, which Waterland acquired for around €1bn in October 2014 from Advent International and Marcol Healthcare.

Previous funding
In 2012, HackFwd and business angel Tim Schumacher backed a seed round of $750,000 for Yieldkit.

Company
Yieldkit is a software platform that enables publishers and advertisers to manage their advertising campaigns, with the aim of allowing them to increase sales and brand awareness. According to its website, Yieldkit's clients include The Times, Asda, AliExpress and Vodafone. The company employs 25 people, according to its website, and was founded in 2009. Yieldkit generated revenues of €33m in 2020.

People
Waterland Private Equity – Carsten Rahlfs (partner).
Yieldkit – Oliver Krohne (founder, CEO); Daniel Neuhaus (managing director).

Advisers
Equity – Altman Solon (commercial due diligence); EY (financial due diligence, tax); Simmons & Simmons (legal); Intuitus (technology due diligence); Clearwater (debt advisory).

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