Gumtree Acquired by 58.com
Deal News | Feb 03, 2025 | Aim Group
O3 Industries, a U.S. investment fund, and Novum Capital, a Germany-based private equity firm, have divested their investment in Gumtree.com Ltd to Ocean Link, an Asian private equity firm, and its portfolio company 58.com. The deal was executed without an announcement from Gumtree U.K. but was made public by Novum Capital and took effect from September 30, 2024. After acquiring Gumtree and Motors.co.uk from Adevinta in 2021, O3 Industries and Novum Capital facilitated the separation of the used car portal Motors as an independent company. Under the new ownership, Motors.co.uk also acquired online marketplace Cazoo. 58.com, renowned for its significant presence in China and expanding global footprint, operates one of the largest online marketplaces. Since December 2021, measures were implemented to make Gumtree ready for future success, as stated by Daniel Ozen, President of O3 Industries.
Sectors
- Online Marketplaces
- Private Equity
- Automotive
Geography
- United Kingdom – Gumtree.com Ltd operates as a leading classified marketplace in the U.K., which is central to the article's context.
- China – 58.com, the acquiring company, has a strong presence in China, making it relevant to the geographical context of the deal.
- United States – O3 Industries, one of the sellers in the transaction, is based in the U.S., which is crucial to understanding the participants' backgrounds.
- Germany – Novum Capital, another seller in the transaction, is based in Germany, providing insight into the geographical location of the entities involved.
Industry
- Online Marketplaces – The article centers around Gumtree, an online classified marketplace, and 58.com, a large global online marketplace operator, highlighting the dynamics within the industry.
- Private Equity – The transaction involves private equity firms Novum Capital and Ocean Link, showcasing the role of PE in facilitating acquisitions and business growth.
- Automotive – Motors.co.uk, an automotive-focused vertical, is mentioned in the context of its independence and acquisition of Cazoo, indicating the relevance to the automotive industry.
Financials
- – The financial terms of the deal were not disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Gumtree.com Ltd | Target Company | Company | A leading classified marketplace in the U.K. |
| O3 Industries | Selling Company | Company | A U.S.-based investment fund involved in the sale of Gumtree. |
| Novum Capital | Selling Company | Company | A Germany-based private equity firm involved in the sale of Gumtree. |
| 58.com | Bidding Company | Company | Part of Ocean Link's portfolio, it is one of the largest global online marketplaces with strong presence in China. |
| Ocean Link | Acquiring Company | Company | An Asian private equity firm that acquired Gumtree. |
| Motors.co.uk | Other Company | Company | A used car portal that was part of the acquisition by O3 Industries and Novum Capital, maintained independence post deal. |