Eurazeo partners with Goldman Sachs on $608 mln buy of Dominion Web Solutions

Eurazeo partnered with West Street Capital Partners VII, managed by Goldman Sachs, to acquire Dominion Web Solutions for $608 million. Dominion provides a digital marketing platform for the RV, commercial truck and equipment industries. The Dominion investment represents Eurazeo’s first in the U.S. since opening its North America headquarters in Sept. 2016.

Press Release

Eurazeo, a leading global investment company listed in Paris, in partnership with West Street Capital Partners VII, a fund managed by the Goldman Sachs Merchant Banking Division (“GS MBD”), is pleased to announce the acquisition of Dominion Web Solutions (“DWS”), an integrated platform of branded marketplaces and digital marketing solutions for the powersport, RV, commercial truck and equipment industries, for $680M. This is the first investment for Eurazeo in the U.S. since opening its North America headquarters in September 2016. The transaction is expected to close in June 2017.

Dominion Web Solutions, owned by Landmark Media Enterprises, has achieved significant scale with over 6,700 dealers, ~4M unique listings and over 7M average unique monthly visitors across its platforms, which include RV Trader and Cycle Trader among other Trader properties. The company has a track record of double-digit revenue growth.

“DWS has already built a market leading platform and we see tremendous opportunity to continue to add new and improve existing services to dealers and consumers and to target new customers,” said Virginie Morgon, deputy CEO of Eurazeo and president and CEO of Eurazeo North America. “Additionally, the company is well positioned to benefit from increased marketplace adoption and the continuing shift from traditional to digital advertising by dealers.”

“Dominion Web Solutions is excited to join the Eurazeo and GS MBD family,” said Lori Stacy, president of Dominion Web Solutions. “With their experience and long-term strategic vision, Eurazeo and GS MBD are ideal partners to help us enhance our platform and accelerate our growth.”

“We are excited to work with the management team and Eurazeo to further develop the DWS story and take advantage of both organic and transformational growth opportunities,” added Harsh Nanda, managing director of Goldman Sachs.

Eurazeo and GS MBD will each acquire a 50% equity stake in DWS. The partnership will provide the company with strategic, operational and financial support for growth, including for potential acquisitions in adjacent markets and internationally. The investors will take an active shareholder role and work closely with the management team on future initiatives.

“As Eurazeo’s first acquisition in the U.S., it provides a strong foothold for our firm’s future,” added Morgon. “This investment is an example of the companies we aim to invest in and partner with – high quality enterprises with strong management teams and long-term transformational growth opportunities.”

About Dominion Web Solutions
Dominion Web Solutions is the leading online classifieds marketplace and marketing software solutions provider to commercial and recreational dealers. Its mission of bringing buyers and sellers together remains the core of its businesses. DWS is committed to providing innovative products to ensure that customers generate leads, drive sales and maximize profits. Its B2C brands consist of Cycle Trader, RV Trader, ATV Trader, PWC Trader, Snowmobile Trader, and Aero Trader, producing over 7 million unique visitors monthly. Additionally, its industry leading B2B brands consist of Commercial Truck Trader, Commercial Web Services, Equipment Trader, RV Web Services and focus on supporting its dealers and manufacturers with driving impressive results as top of mind. Dominion Web Solutions has 10 businesses and approximately 300 employees with its home office located in Norfolk, VA.

About Eurazeo
With a diversified portfolio of approximately €6 billion in assets under management, of which €1 billion is from third parties, Eurazeo is one of the leading listed investment companies in Europe. Its purpose and mission is to identify, accelerate and enhance the transformation potential of the companies in which it invests. The Company covers most private equity segments through its four business divisions – Eurazeo Capital, Eurazeo Croissance, Eurazeo PME and Eurazeo Patrimoine. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term. Eurazeo is notably a shareholder in AccorHotels, ANF Immobilier, Asmodee, CIFA, Desigual, Elis, Europcar, Fintrax, Grape Hospitality, Les Petits Chaperons Rouges, Moncler, Neovia, Novacap, Sommet Education, and also SMEs such as Colisée, Péters Surgical, and Flash Europe International, as well as start-ups such as Farfetch and Vestiaire Collective.

Headquartered in New York, Eurazeo’s North America office opened in September 2016 to identify, invest in and enable the growth of high potential U.S. mid-market companies in the consumer goods and business services sectors, as well as support the international development of Eurazeo’s portfolio companies. As a global long-term shareholder, the firm offers deep sector expertise, a gateway to global markets, and growth-oriented value creation to the companies it supports. The U.S. team, managed by Virginie Morgon, Deputy CEO of Eurazeo and President and CEO of Eurazeo North America, is comprised of six investment professionals and two senior advisors.

Eurazeo is listed on Euronext Paris. ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

For further information, please visit our website: www.eurazeo.com.
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About GS MBD
Founded in 1869, the Goldman Sachs Group, Inc., is a leading global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division (GS MBD) is the primary center for the firm’s long-term principal investing activity. With nine offices across seven countries, GS MBD is one of the leading private capital investors in the world with equity and credit investments across corporate, real estate, and infrastructure strategies. Since 1986, the group has invested over $170 billion of levered capital across a number of geographies, industries and transaction types. Founded in 2016, West Street Capital Partners VII is its newest corporate equity fund.