iBOOD COMPLETES MANAGEMENT BUY-OUT
Amsterdam (August, 2019) - The management team of iBOOD and Dutch technology investor Walvis, have announced today the management buy-out of iBOOD.com. iBOOD is Europe’s leading e-commerce platform offering online daily premium deals in product verticals such as electronics, home & living, sports & fashion and Do-It-Yourself. Walvis, founded by the J.A. Fentener van Vlissingen family, helps Dutch technology companies grow and scale internationally. IMPROVED Corporate Finance acted as the exclusive financial advisor to the selling shareholders Ceconomy AG and MediaMarktSaturn Retail Group in this transaction and supported the management team of iBOOD in finding the financial investor to realise its growth ambitions.
Ceconomy AG and its majority shareholding MediaMarktSaturn Retail Group, first invested in iBOOD in 2013. However, in course of their efficiency program, the companies announced end of April 2019 to review their investment portfolios and decided later to intiate the sale of iBOOD.
“Under the wings of MediaMarktSaturn, iBOOD changed into a much more professional organization which is ready to accelerate growth. The new partnership with Walvis allows iBOOD to bring back focus on the iBOOD brand and further increase the entrepreneurial spirit to fulfil its ambitions to establish the best premium daily deal platform”, said Jöran Prinssen, CEO and founder of iBOOD.
iBOOD.com has circa 200,000 daily visitors and operates in 5 different countries. The company is based in Amsterdam and employs circa 100 employees. Joris Boon, Managing Director at Walvis commented “iBOOD has a strong track record, loyal customer base and is well positioned to benefit from the growing European e-commerce market. We see great potential in iBOOD and are looking forward to bringing iBOOD to the next phase together with management”.
Frank Verbeek, Managing Partner IMPROVED Corporate Finance, added: “Following the strategic decision to divest iBOOD by the MediaMarktSaturn Group and Ceconomy AG, we were able to find the best possible growth partner for the management team of iBOOD to realise their ambitions. Teaming up with Walvis sets iBOOD in a strong position for the accelerating e-commerce market in Europe.”
Dealteam IMPROVED Corporate Finance: Sherief Rahim, Bas Hendriks, Thomas Smal
Legal advisors: Houthoff, van Campen Liem
About IMPROVED Corporate Finance
IMPROVED Corporate Finance provides financial advisory services related to mergers & acquisitions and financing. Our mentality? When we commit to you; we believe in you; we will fight for you and for the deal. Not just any deal, but the best possible deal for you, your company and its future. We believe in IMPROVED deals: The best deals are deals with winners only.
For further inquiries, please contact:
Sherief Rahim, Director
+31 6 4395 1155
+31 6 1245 3435