HTGF and KfW exit Kimeta

HTGF has divested its stake after a holding period of nine years. It claims to have achieved a multiple of between 5-10x its initial seed investment.

The newspapers Heilbronner Stimme and Mannheimer Morgen are increasing their stakes in the company, with the latter now holding a 10% stake. The Madsack Mediengruppe, a German media group, is a previous investor into Kimeta and will continue to hold its stake in the company.

Publishing group Verlagsgruppe Rhein Mein, media groups Mediengruppe Straubinger Tagblatt/Landshuter Zeitung, Mediengruppe Badische Zeitung, the NWZ Mediengruppe and Medienhaus Schwäbischer Verlag, as well as the Nuremburg-based newspaper Nürnberger Presse, are new investors into the company. All nine investors now own 55% of the company.

Rival recruitment portals in Germany have attracted private equity money in recent years. Hellman & Friedman acquired a portfolio of online portals, including JobScout24, in late 2013 for €1.5bn. Plans to list the portals were announced in September last year, before being postponed following the IPOs of Zalando and Rocket Internet the following month.

Company
Founded in 2005 by Erik Spickschen and Torsten Hein, Darmstadt-headquartered Kimeta is a job search engine, indexing search results into one database. It currently has around 1.7 million listings and receives 1.8 million visitors per year. Kimeta employs approximately 35 people.

People
Marvin Andrä is an investment manager at HTGF, while Alex Frankenberg is managing director at the GP.

 

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