EQT buys Avenso in MBO

The fresh capital will be used to further expand the firm internationally through opening further galleries. EQT also aims to improve Avenso's online footprint.

EQT is now majority stakeholder in Avenso. The Nordic private equity house bought all shares from Hubert Burda Media, which originally acquired a 26% stake in Avenso in 2006.

The acquisition is EQT's ninth German portfolio company.

Company
Avenso was founded in 2004 in Berlin. The firm operates as a gallery network and online retailer of photographic art.

Avenso runs 24 galleries worldwide, showcasing the work of 160 international artists, under the brand Lumas. Avenso's second brand, WhiteWall, is an online retailer for large-scale, gallery-quality prints.

People
Rolf Hagemann is EQT's industrial adviser. Marc Ullrich is co-founder and CEO of Avenso.

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