EQT announced that its EQT X fund has reached an agreement to acquire Adevinta’s Spanish operations from Aurelia Netherlands TargetCo B.V. Adevinta Spain includes several of Spain’s leading online classifieds platforms, such as Coches.net, InfoJobs, Milanuncios, Fotocasa, and Habitaclia.
1.) Coches.net, Spain’s top digital car classifieds platform, serves around 7,000 dealers and 20 million visitors each month by offering an online marketplace for car owners and buyers.
2.) InfoJobs is Spain’s top online job platform, linking a wide pool of candidates with a large network of employers.
3.) Fotocasa and Habitaclia assist real estate agents, home buyers, and sellers in Spain through an online classifieds marketplace.
4.) Milanuncios – One of Spain’s biggest general classifieds platforms, enabling users to buy and sell a wide range of goods and services, such as consumer products, vehicles, and more.
EQT will help Adevinta Spain grow as it becomes fully independent by accelerating product innovation, enhancing the customer experience, and expanding its AI and tech infrastructure. EQT will collaborate closely with the leadership teams of various platforms to support their long-term goals.
This acquisition builds on EQT’s successful history in the global online classifieds industry and its longstanding presence in Spain. Recent deals in the region include purchasing Universidad Europea, a top private higher education provider in Spain and Portugal, and making a growth investment in TravelPerk, a leading international travel and expense management platform based in Barcelona.
Counsel/advisor/support: Clifford Chance served as legal counsel to EQT and Ernst & Young as financial, tax, and carve-out advisor.
KEY QUOTES:
“Adevinta Spain represents a highly thematic investment within one of EQT’s core sub-sectors, consumer internet. This investment reflects our strategy of backing high-growth platforms and partnering with world-class Management teams. We’re impressed by the businesses and look forward to supporting Adevinta Spain and its leadership team as they enter this next phase of growth.”
Bert Janssens, Co-Head of Private Capital Europe & North America at EQT
“Adevinta Spain’s platforms are leaders in their respective verticals in Spain, which gives them a promising base from which to further grow. We’re excited to partner with the Management teams to help them scale, modernize and continue delivering value to Spanish customers and businesses.”
Carlos Santana, Partner and Head of Spain & Italy Private Capital at EQT
