EQT is a Swedish private equity group founded in 1994 by SEB Asset management, Investor AB, and US-based AEA Investors. Approximately €29 billion has been raised from over 300 global institutional and professional investors and more than €16 billion has been invested in around 140 companies.
One of them is the German e-commerce company Internetstores that operates more than 20 online stores in 11 European countries. Back in 2012 EQT invested €30 million in the online retailer for bikes, accessories and outdoor products and today owns 34% of the shares in the company.
But now the private equity group is looking for a buyer for the German online player that has a turnover of around €193 million with an operating profit of €16 million.
€210 Million Price Tag
According to the Swedish news website Breakit, EQT has hired the investment bank William Blair to handle the sale that hopefully will be completed in the coming months. EQT has chosen not to comment on the findings but the price tag is rumored to be around €210 million.
Internetstores is headquartered in Stuttgart and was founded in 2003 with the launch of Fahrrad.de, the company’s first online store. Today Internetstores caters to a broad range of consumers through a portfolio of online stores focussed on the bike and outdoor segments such as the Swedish online retailer Addnature and bike shop Bikester.