Eurazeo, a leading global investment company listed in Paris, in partnership with West Street Capital Partners VII, a fund managed by the Goldman Sachs Merchant Banking Division (“GS MBD”), is pleased to announce the acquisition of Dominion Web Solutions (“DWS”), an integrated platform of branded marketplaces and digital marketing solutions for the powersport, RV, commercial truck and equipment industries, for $680M. This is the first investment for Eurazeo in the U.S. since opening its North America headquarters in September 2016. The transaction is expected to close in June 2017.
Dominion Web Solutions, owned by Landmark Media Enterprises, has achieved significant scale with over 6,700 dealers, ~4M unique listings and over 7M average unique monthly visitors across its platforms, which include RV Trader and Cycle Trader among other Trader properties. The company has a track record of double-digit revenue growth.
“DWS has already built a market leading platform and we see tremendous opportunity to continue to add new and improve existing services to dealers and consumers and to target new customers,” said Virginie Morgon, deputy CEO of Eurazeo and president and CEO of Eurazeo North America.
“Additionally, the company is well positioned to benefit from increased marketplace adoption and the continuing shift from traditional to digital advertising by dealers.”
“Dominion Web Solutions is excited to join the Eurazeo and GS MBD family,” said Lori Stacy, president of Dominion Web Solutions. “With their experience and long-term strategic vision, Eurazeo and GS MBD are ideal partners to help us enhance our platform and accelerate our growth.”
“We are excited to work with the management team and Eurazeo to further develop the DWS story and take advantage of both organic and transformational growth opportunities,” added Harsh Nanda, managing director of Goldman Sachs.
Eurazeo and GS MBD will each acquire a 50% equity stake in DWS. The partnership will provide the company with strategic, operational and financial support for growth, including for potential acquisitions in adjacent markets and internationally. The investors will take an active shareholder role and work closely with the management team on future initiatives.
“As Eurazeo’s first acquisition in the U.S., it provides a strong foothold for our firm’s future,” added Morgon. “This investment is an example of the companies we aim to invest in and partner with – high quality enterprises with strong management teams and long-term transformational growth opportunities.”