Oakley Capital Private Equity is pleased to announce that THMMS Erwerbs GmbH, a subsidiary of Oakley Capital Private Equity II (the “Fund”), has completed the acquisition of Elitemedianet GmbH (owner of the online dating business ElitePartner) from Tomorrow Focus AG, a publicly listed internet company.
Headquartered in Hamburg, ElitePartner is one of the leading online dating agencies in the German-speaking region of Europe. The service was launched in Germany in 2004 and in Austria and Switzerland a year later. For the financial year ended 31 December 2014, EliteMedianet generated revenue in the region of EUR 28 million and EBITDA of EUR 2.6 million.
This acquisition follows the Fund’s acquisition of PARSHIP earlier this year. Also based in Hamburg, PARSHIP is one of Europe’s original online dating businesses and has built up a strong position in Germany, Switzerland and Austria. PARSHIP also has a presence in 10 other countries.
Peter Dubens, Managing Partner at Oakley Capital Private Equity, commenting on the deal said: “We’re excited to have acquired ElitePartner, which is such a strong brand in the online dating market. With our recent acquisition of PARSHIP, we look forward to pursuing growth with both of these companies and brands in the future.”