Novum Capital acquires Gumtree UK and Motors.co.uk

01 December 2021

Frankfurt-based private equity firm Novum Capital, together with New York-based investment firm O3 Industries (“O3”), has acquired the UK online classifieds portals Gumtree UK and Motors.co.uk on 30 November 2021. The seller in the carve-out transaction is Adevinta, an international online marketplace specialist.

Popular online marketplaces

Gumtree is one of the leading classifieds portals in the UK. It brings together millions of buyers and sellers and facilitates thousands of successful transactions every day. Motors.co.uk is one of the leading online platforms for used cars, helping British car dealers reach millions of prospective buyers every month.

With the divestment of these two online platforms, Adevinta fulfils an agreement with the UK Competition and Markets Authority as part of its acquisition of the eBay Classifieds Group, which includes the German classifieds sites eBay Kleinanzeigen and mobile.de.

Flexibility and growth

Novum Capital and O3 have already shown great commitment to the acquired companies during the acquisition process and look to their future with ambition and optimism. The operational management teams are looking forward to driving the growth of the portals as independent businesses. The new shareholders support this and also see a lot of potential in the new decision-making flexibility.

Rolv Erik Ryssdal, Adevinta CEO, said: “We are pleased to have completed the sale of Gumtree UK and Motors.co.uk to the renowned investors Novum Capital and O3. We are confident that Novum Capital and O3 are well placed to continue growing Gumtree UK and Motors.co.uk as they focus on providing leading classifieds advertising services to the UK market.”

Sustainability and customer focus

Daniel Ozen, O3 Industries’ President, commented: “We too are delighted with the acquisition. O3 is a strong partner for innovative and customer-focused businesses with above-average growth opportunities. We recognised these qualities in Gumtree UK and Motors.co.uk. Now we look forward to working with the great employees of both portals and welcome them into the O3 family.”

Felix Homann, Partner of Novum Capital, added: “Gumtree’s value proposition is now more important than ever. Consumers can participate in the circular economy by trading a wide range of second-hand items on this platform. And Motors.co.uk supports car dealers meet growing consumer demand for online buying options. We want to use our experience of carve-out situations, our international network, and our entrepreneurial passion to be a valued-added shareholder.”

Find out more about Gumtree here.

Find out more about Motors.co.uk here.

Click here for more information on Novum Capital's portfolio.

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