Blue Corporate Finance AG („BlueCF“) acted as the exclusive financial advisor to the founders of kfzteile24 GmbH („kfzteile24“), one of the leading full-range online retailers for automotive spare parts and accessories in Germany, on the sale of the majority of company shares to EQT Mid Market („EQT“), a fund of EQT, a leading private equity group in Europe. Torsten Hainke and Matthias Kieper stay on as substantial shareholders in kfzteile24 and maintain Co-CEO positions to continue driving growth and the development of the Company.
BlueCF lead the entire sell-side transaction process and advised the founders Matthias Kieper and Torsten Hainke in all stages of negotiation, with both international financial investors as well as international strategists. The highly competitive bidding process was successfully maintained until just before signing.
kfzteile24 is one of the leading full-range online retailers for automotive spare parts and accessories in Germany. In addition to its online shop, kfzteile24 has three retail stores with affiliated repair shops in Berlin to supplement its online distribution. Annual revenues of kfzteile24 amounted to EUR 114 million in 2014. kfzteile24 has around 500 employees.
EQT is a leading private equity group in Europe with approximately EUR 29 billion in raised capital. EQT has portfolio companies in Europe, Asia and the US with total sales of more than EUR 17 billion and approximately 140,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
We have had many interesting discussions with a broad set of high profile investors. Given EQT Mid Market’s growth focused approach and strong Industrial Network, we are convinced that we have chosen the best partner for kfzteile24 and our employees. We look forward to working together with EQT Mid Market to further develop kfzteile24.
The last few weeks have been very exciting and we now look forward to working together with EQT Mid Market as a strong partner for future growth. With our financial advisor Blue Corporate Finance, and in particular Mr. Grüninger and Mr. Schlüter, we have always felt in safe hands and would like to thank them for their great work and effort.
Torsten Hainke and Matthias Kieper
founders of kfzteile24
December 20, 2018
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