Equistone acquires majority stake in Motoblouz

Alice Tchernookova
26 September 2016

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Equistone Partners Europe has acquired a majority stake in D3T Distribution, the holding company of Motoblouz and Access Moto, from e-commerce business Inspirational Stores.

The acquisition of Motoblouz marks the exit of Apicap, which had become a minority shareholder in 2007, and of VC backers Atlas Ventures and OTC Management.

It is Equistone's third investment within the motorcycle accessories and clothing sector. In January 2015, the firm acquired a majority stake in Polo Motorrad und Sportswear, a German retailer of motorcycle clothing and accessories. In October 2015, it took a controlling stake in East Midlands-based group Sportsbikeshop, active within the same sector.

While all three companies will continue to operate individually, the GP expects them to benefit from synergies, it said in a statement.

Over the last couple of years, Motoblouz's revenues have increased by an estimated 30%, with a strong focus on international expansion. Motoblouz is now active in Spain, Italy, the UK and Germany. With Equistone's support, it will continue this expansion.

Company
Founded in 2004 in Lille by Thomas Thumerelle and David Thiry, Motoblouz provides motorcyclists and scooter riders with specialised accessories and clothing such as gloves, helmets and jackets, as well as various motorcycle parts. The company stocks brands such as Alpinestars, Ixon, Shark, Bering and Furygan, and since 2008 has its own brands – Dexter, DXR, Koorroom and O4B. The group currently employs 90 employees and reported sales of €38m for the 2015/16 financial year.

In 2010 the firm acquired Access-Moto, a specialist in motorcycle spare parts. The company claims to have a 50% market share in France, with 800,000 customers.

People
Equistone Partners Europe – Dirk Schekerka (partner); Katja Mühlhäuser (investment manager).

Advisers
Equity – Latham & Watkins (corporate finance); Ashurst (corporate finance); Goodwin Procter (legal); P+P Pöllath + Partners (legal); Deloitte (financial due diligence); Arsene (tax); PwC (strategic due diligence).
Vendor – Rothschild (M&A); Pinot de Villechenon & Associes (legal); Mayer Brown (management due diligence).