Novum Capital acquires Gumtree UK and Motors.co.uk
01 December 2021 | 2 min. reading time
Frankfurt-based private equity firm Novum Capital and New York-based investment firm O3 Industries (“O3”) jointly acquired the UK online classifieds sites 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 sites 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 each month.
By divesting these two online platforms, Adevinta has fulfilled 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
During the acquisition process, Novum Capital and O3 already showed great commitment to the acquired companies, and now look to their future with ambition and optimism. The operational management teams are looking forward to driving the growth of the sites as independent businesses. The new shareholders support this, and also see a lot of potential in this new flexibility in decision-making.
Rolv Erik Ryssdal, CEO of Adevinta, said: “We are pleased to have completed the sale of Gumtree UK and Motors.co.uk to 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 classified advertising services to the UK market.”
Sustainability and customer focus
Daniel Ozen, President of O3 Industries, commented: “We too are delighted with this acquisition. O3 is a strong partner for innovative and customer-focussed businesses with above-average growth opportunities. We recognised these qualities in Gumtree UK and Motors.co.uk, too. Now, we look forward to working with the wonderful employees of both sites, and welcome them as part of the O3 family.”
Felix Homann, Partner at Novum Capital, added: “Gumtree’s value proposition is 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 in meeting growing consumer demands for online buying options. We want to use our experience with carve-out situations, our international network, and our entrepreneurial passion to be a value-adding 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.