Oakley Capital Private Equity is pleased to announce that Oakley Capital Private Equity Fund II (“Fund II”) has completed the purchase of Parship GmbH (“Parship”), a leading online dating company. Fund II has invested alongside Parship’s senior management team.
Parship has been acquired from Holtzbrinck Digital GmbH, a subsidiary of Georg von Holtzbrinck GmbH & Co. ZB. The purchase price comprised an upfront consideration and a vendor loan and was partly funded with third party debt.
Founded in 2001 and headquartered in Hamburg, Parship is one of Europe’s earliest online dating businesses and has built up a strong position in Germany, Switzerland and Austria. Parship also has a presence in 10 other countries.
The business generated revenues of approximately €60 million and EBITDA of approximately €8 million for the year ended 31 December 2014. Parship’s strong growth trajectory has continued in 2015 and the last 12 months’ EBITDA to 31 March 2015 was over €12 million.
Commenting on the acquisition, David Keech, Director at Oakley Capital Private Equity, said: “We are delighted to be investing in Parship, the company has a strong record of growth and a leading position in this attractive online sector and this transaction builds on Oakley’s experience of investing in digital businesses such as Verivox.de and Facile.it.”
Parship’s Managing Directors, Tim Schiffers, Henning Rönneberg and Marc Schachtel added: “We are excited to work with our new shareholder. In 2014 we were able to grow the business by 35% and have achieved all time high revenues of €60 million. Oakley’s strong track record of partnering with management teams to grow and build companies lays the perfect foundation to further strengthen Parship`s market position and to continue our exceptional growth story.”