Eurazeo and Goldman Sachs have completed their previously announced acquisition of Dominion Web Solutions. According to terms of the deal, Eurazeo invested $226 million in DWS for a 50 percent stake. A previous report in PE HUB tagged the total amount of the transaction at $608 million. Based in Norfolk, Virginia, DWS is an online classifieds marketplace and marketing software solutions provider for commercial and recreational dealers.
PARIS–(BUSINESS WIRE)–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”), has announced the completion of 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.
Eurazeo and GS MBD reached an agreement in May 2017 to purchase the company. Eurazeo’s total investment is $226 million for a 50% equity stake. This completes Eurazeo’s first investment in the U.S. since opening its North America headquarters in September 2016.
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.
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 five business divisions – Eurazeo Capital, Eurazeo Croissance, Eurazeo PME, Eurazeo Patrimoine and Eurazeo Brands. 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, CPK, Desigual, Dominion Web Solutions, Elis, Europcar, Fintrax, Grape Hospitality, Les Petits Chaperons Rouges, Moncler, Neovia, Novacap, Sommet Education, and also SMEs such as 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 more information, please visit the Group’s website: www.eurazeo.com.
Follow-us on Twitter, Linkedin, and YouTube.
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.