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Funds advised by Apax Partners to Acquire Dominion Marine Media (BoatTrader, boats.com, YachtWorld)
Friday, August 12, 2016Company Profile | Follow Company
Vancouver, BC, August 12, 2016--(T-Net)--Funds advised by Apax Partners today
announced that they have entered into a definitive agreement to acquire Dominion Marine Media (“DMM”), a leading global marine classifieds marketplace and marketing software solutions provider to marine brokers and dealers, from Dominion Enterprises, a subsidiary of Landmark Media Enterprises.
The transaction, which is subject to customary closing conditions, is expected to be completed in the third quarter of 2016. Terms of the transaction were not
disclosed.
Operating the world's largest and most popular recreational marine digital marketplaces - BoatTrader, boats.com, YachtWorld, and CosasDeBarcos - DMM attracts over 62 million unique visitors annually to more than 300,000 unique boat and yacht listings. DMM's digital solutions serve over 5,000 dealers and brokers in more than 143 countries, enabling them to effectively reach in-market consumers, increase dealer inventory turnover, and improve their overall profitability.
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Editor's Note: Dominion Marine has a large state-of-the-art IT office based in Vancouver, British Columbia which supports 50 million unique visitors to the Dominion Marine Media web sites each year.
Local Office: #410 - 1111 Melville Street, Vancouver, BC V6E 3V6
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“Our world-class brands have a long tradition of excellence in providing leading digital business solutions for the recreational boating industry,” said Ian Atkins, Dominion Marine Media's President. “We are confident that the expertise and resources provided by the Apax team will not only further our mission of driving boat sales globally, but will be essential to our next phase of growth.”
Marcelo Gigliani, Partner at Apax Partners, commented: “The recreational marine industry is poised for digital transformation and DMM is the only integrated digital media, technology and data platform positioned to capture this opportunity globally. We are excited to be backing Ian and his team and are eager to leverage our experience investing in and operating leading digital classifieds businesses to accelerate growth at DMM.”
Through the Apax Digital practice, the Apax Funds are a leading private equity investor in the digital classifieds/lead generation and digital marketing solutions space, combining extensive digital investment expertise across three continents with deep operational value-add.
Selected recent digital investments include TRADER Corporation (Canada), AutoTrader (UK), Bankrate (US), Dealer.com (US), Idealista (Spain), and Soufun (China).
Apax Partners was advised by Kirkland & Ellis (legal counsel) and PricewaterhouseCoopers (financial/tax advisor). Dominion Enterprises was advised by Evercore (M&A advisor) and
Willcox and Savage (legal counsel).