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Autoscout24 creates joint venture with Autocasion


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Integral service around a transaction
BY : Diego GutiérrezJanuary Tue, 2019

El pasado diciembre conocimos a NewCo, la nueva joint venture de Autocasión Hoy y Autoscout24 España. El Grupo Vocento liderará esta asociación de empresas dedicadas a la clasificación online de coches en España.

In a final section we will mention the sale of companies most relevant in the sector at the international level.

About Autocasión Today

Autocasión es un automotive portal of Spain that has been offering an online car search service for more than 20 years, both to sell and to buy. Within its catalogue of categories we can find second-hand cars, 0 km cars, new cars, electric cars, industrial vehicles, classic cars, caravans and trailers or cars without license, among others.

According to data published by the ABC newspaper At the end of 2017, Autocasión has 50 employees, receives 4 million visits per month and is in the top 3 of the transactional motor portals in Spain. We do not rule out that these figures are currently higher, making it the leader of the top.

Autocasion is a company controlled by Classifieds Developmentwhich in turn is a subsidiary of the Vocento Group. Based on the 2017 data, it obtained some revenues of EUR 6.5 million and EBITDA of EUR 1.7 million..

AUTOSCOUT24

About Autoscout24 Spain

Al igual que en caso anterior, Autoscout24 es una online classified advertising platform and specialises in the sale of second-hand vehicles. With more than 15 years of experience in the sector, Autoscout is present in 18 countries and has more than 50,000 customers throughout Europe.

It is filial de la alemana Scout24which controls it at 100%. Its 2017 financial data reflect a turnover of 7.1 million euros and an EBITDA of 1.9 million euros..

NewCo, the new joint venture

On December 21st Autoscout24 and Autocasión created a joint venture for the integration of its online car classifieds business in Spain. Specifically, the new company, called NewCo (or Alpinia Investments 2018), integrates the respective businesses.

NewCo is thus integrated into the Vocento Group and will be controlled to 50% plus one action by Classifieds Development and the remainder of the share capital by Autoscout24.

As a preliminary step of the operation, Classifieds Development carried out the compra del 40% de Autocasión por un valor de 7,2 millones de euros2 million over the next three years depending on various objective criteria.

Other international operations in the sector

1. The Car Buying Group

El 22 de octubre del 2018 conocimos la venta de The Car Buying Group (TCBG), una de las compañías de UK's largest independent consumer car buyer, a Aston Barclay. Se desconocen los importes manejados en la operación.

Selling more than 10,000 cars nationwide and interacting with tens of thousands more, TCBG is ranked number 20 in the Sunday Times "Tech Track 100" list of 2018, listed as one of the fastest growing private technology companies.

The acquisition will enable Aston Barclay to expand the range of new products and services it offers its customers, while TCBG will benefit from the group's strong IT reputation to launch new technologies designed and developed in-house.

2. Cheki

Cheki.com es un mercado online donde los concesionarios, importadores y vendedores privados de automóviles de Nigeria publican sus coches para la venta nacional. No los coches directamente, sino que ofrecen un medio de publicidad de vanguardia para que los nigerianos compren y vendan sus autos, 4WD, camionetas, bicicletas, camiones y otros vehículos.

Ringier efectuó el 1 de diciembre de 2017 la compra sobre la compañía nigeriana, por un importe desconocido. Ringier es una compañía de medios de comunicación suiza que opera internacionalmente y produce más de 120 periódicos y revistas.

3. Chileautos

La empresa australiana de clasificados de coches online Carsales anunció el 29 de mayo del 2016 la adquisición de una participación de control de la también plataforma de clasificados para automóviles Chileautos.

The 83 % of the Chilean company was acquired for USD 15 million. of the cash reserves, and Carsales retained the option to purchase the remaining 17 % for any time up to 2020.

Paul Barlow, CEO of Carsales, said: "Chile is the strongest economy in Latin America as measured by GDP per capita and, given that Chileautos is number one in its market, there is significant upside to be gained by utilising Carsales' expertise and technology.

4. Beepi

Beepi is a Los Altos, California-based company that offers a peer-to-peer online marketplace for buying and selling used cars. Its app, available for both desktop and mobile, was launched in April 2014.

Fair, por su parte, es una empresa de California de alquiler de automóviles que tiene como objetivo conceder acceso a la movilidad a cualquier usuario mediante el concepto de automóvil como servicio (CaaS). Ofrece a los clientes la libertad de conducir el coche que desean durante el tiempo que deseen, y la flexibilidad de alejarse en cualquier momento.

On 7 December 2016, the sale of Beepi to Fair for an undisclosed amount was confirmed. Currently Beepi is closed.

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