€95m Dutch sale is 3rd deal in four weeks for Oakley
Oakley Capital Corporate Finance (“Oakley”) and Berenson & Company, LLC have advised Emesa Holdings BV (“Emesa”, “the Company”), a leading online consumer auction platform for the European leisure industry, on its sale for an enterprise value of €95m to Dasym Emesa Holding B.V, a fund managed by Cyrte Investments BV (“Cyrte”). The sale completes Oakley’s most successful run of deals to date, with three M&A transactions signed or completed in four weeks, with a combined value of £280m. All three deals involved private equity funds, either on the “buy-side” or the “sell-side”.
Emesa has grown rapidly to become a leading online auction platform in the Netherlands, providing consumers with a variety of auction content including holidays, theatre tickets and events.
The transaction further demonstrates Oakley’s capability in the online digital media sector and the Netherlands where Oakley has advised a number of deals including the €225m sale of 2waytraffic NV to Sony Pictures Entertainment in 2008, the owners and producer of “Who wants to be a Millionaire.”
The Emesa Oakley team on Emesa was led by Chris Godsmark, Managing Partner, Daniel Havercroft, Director and Anthony Yaneza, Associate. Oakley’s co-advisor on the transaction was Berenson & Company, LLC, led by Lisbeth R. Barron, Managing Director and Head of Media, Entertainment & Leisure. Completion of the transaction is conditional on Dutch Competition Authority approval and employee consultation procedures being satisfied.
Daniel Havercroft said, “Emesa has demonstrated very impressive growth over the past few years and the disposal generated a lot of interest. Emesa’s online auction platform achieved over 2 million transactions during 2012, firmly establishing it as a leader in the Dutch online travel and leisure market. Cyrte is well positioned to help support the management in achieving their growth aspirations for the Company.”
Chris Godsmark said, “Oakley continues to expand its client base and deal flow. I am delighted that we managed to close three key projects in the fourth quarter of 2012, all run in parallel and involving different team members. I am confident that our pace of activity will remain high during 2013, based on our current pipeline. I am also particularly pleased that the three deals involved private equity, a testament to our full coverage of the European private equity sector.”
Oakley Capital Corporate Finance (“Oakley”) is a mid-market corporate finance business which provides advice private and quoted companies, primarily in the media, technology and telecoms sectors. We are particularly active in the digital media market where we assist with strategic advice, fundraisings and M&A activities including acquisitions and disposals. We also offer Corporate Broking advice to UK quoted businesses on a retained basis. Oakley has completed over 40 transactions since its formation in late 2007.