Press release -
GP Bullhound advises European Media Holding AG on the sale of its portfolio company Tirendo Holding GmbH to public listed Delticom AG
Public
listed Delticom AG has agreed with the shareholders of Tirendo Holding
GmbH to purchase all shares in the Berlin-based online tyre retailer and
its subsidiaries. The purchase price, including acquired shareholder
loans, amounts to around EUR 50 million.
In
Tirendo, Delticom is acquiring a rapidly growing company with
complementary strengths in IT and marketing. For Tirendo, Delticom is an
experienced, well-funded partner which excels in the areas of
procurement and logistics.
In
many European countries the share of tyres sold online is still
relatively low compared to other product categories. Buying online
offers many advantages including fast delivery times, a broad selection
of products, even at peak times, and attractive prices. As a
first-mover, Delticom opened ReifenDirekt.de, one of Germany’s first
online tyre shops, as early as 2000. With more than 6 million customers
in 42 countries and an annual turnover of around EUR 500 million, the
company is the market leader in European online tyre sales.
Tirendo
was founded in October 2011 by European Media Holding and launched the
tyre portal Tirendo.de in Germany in March 2012. Seed-funded and
operationally supported during its ramp-up phase by Project A Ventures,
Tirendo has quickly established itself in the market through innovation
in IT, marketing and branding. The emerging e-commerce company is now
active in eight European countries and, for its second year of business,
expects a turnover in the mid double-digit million euro range. Tirendo
is well-known not least thanks to Sebastian Vettel. The three-time
Formula One world champion will continue in his role as exclusive brand
ambassador.
About GP Bullhound
GP Bullhound is an international technology investment banking group with offices in London, San Francisco, Stockholm and Berlin. Founded in 1999, GP Bullhound provides world-class advice on mergers, acquisitions and private placements to a diverse range of corporate clients, institutional investors and high net worth individuals.
Combining
a true love for entrepreneurship and innovation with deep global buyer
relations and sector expertise, GP Bullhound has completed transactions
for many category leaders and most recently sold Tunigo to Spotify, and
Fjord to Accenture. For more information, please visit
www.www.gpbullhound.com
In 2013 the firm was awarded Boutique Investment Bank of the Year and
Leading Advisers of the Year by the International Acquisition M&A
Awards.
Enquiries
For enquiries contact: Cecilia Roman, cecilia.roman@gpbullhound.com www.gpbullhound.com
Topics
- Economy, Finance
Categories
- tirendo
- delticom
- online
- sebastien vettel
- investment bank
- european media holding
About GP Bullhound
GP Bullhound is an international technology investment banking group with offices in London, San Francisco, Stockholm and Berlin. Founded in 1999, GP Bullhound provides world-class advice on mergers, acquisitions and private placements to a diverse range of corporate clients, institutional investors and high net worth individuals.
Combining
a true love for entrepreneurship and innovation with deep global buyer
relations and sector expertise, GP Bullhound has completed transactions
for many category leaders and most recently sold Tunigo to Spotify, and
Fjord to Accenture. For more information, please visit
www.www.gpbullhound.com
In 2013 the firm was awarded Boutique Investment Bank of the Year and
Leading Advisers of the Year by the International Acquisition M&A
Awards.
