Acton exits Mytheresa to US trade buyer for €150m

Christoph and Susanne Botschen, who founded Mytheresa, also divested their entire stake in the business as part of the deal. NMG will also acquire the Theresa fashion store in Munich from the founders.

Both the online store and the company's physical presence will be run by the existing management team as an independent subsidiary of NMG. The Botschen family and NMG representatives will form an advisory board for the company.

NMG stated its long-term strategy was to grow internationally in the luxury brand market.

Previous financing
Acton acquired a minority stake in Mytheresa in January 2010. The fashion store earmarked the funds for growth both in Germany and internationally. Its revenues stood at more than €10m back in 2009.

Company
Founded in 2006, Mytheresa offers collections from more than 170 international designers including Balenciaga, Yves Saint Laurent and Valentino. Around 500 new products, including clothing, shoes, bags and accessories, go online per week.

Mytheresa ships to 120 countries worldwide and two thirds of its revenues are generated outside Germany. The company employs 200 people at its locations in Aschheim and Heimstetten.

The online store was founded to extend the reach of Theresa, the company's flagship store in Munich founded in 1987.

People
Christoph and Susanne Botschen are co-founders of Mytheresa. Thomas Mueller and Jens Riewenherm are managing directors of Mytheresa. Joshua Schulman will become president of NMG International. Karen Katz is president and CEO of NMG. Jan-Gisbert Schultze is managing partner at Acton.

Advisers
Equity – Morgan Stanley (Corporate finance); Proskauer Rose (Legal); Hengeler Mueller (Legal).
Vendor – Altium Capital (Corporate finance); Goldman Sachs (Corporate finance); Milbank (Legal); Guett Olk Feldhaus (Legal).

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