GP Bullhound advises AutoTrader SA on its sale to OLX, part of Naspers
Manchester, 8 November 2017 – GP Bullhound acted as exclusive financial adviser to AutoTrader South Africa (“AutoTrader SA”) on its sale to OLX, a subsidiary of Naspers, the global internet and entertainment group and one of the largest technology investors in the world.
Launched in 1992, AutoTrader SA is the country’s largest automotive classifieds business with the most instantly recognisable brand in the market. The company was sold by Manchester-based AutoTrader Group plc in 2013, following which it significantly accelerated the transition of its used car business from a predominantly print publication to a dedicated digital platform. The business is deeply embedded with both users and the dealer network; listing more vehicles and attracting more high quality visitors to its sites than any other platform in South Africa.
George Mienie, CEO of AutoTrader South Africa commented: “We are excited to work with OLX and the wider Naspers Group in order to significantly improve our customers’ experience through investment in product innovation and technology. GP Bullhound’s expertise in designing and executing an efficient and targeted sale process was instrumental in bringing this transaction to swift and successful close.”
Nick Horrocks, Director at GP Bullhound commented: “AutoTrader South Africa has successfully demonstrated its shift from a predominantly print publication to a digital and technologically innovative marketplace business. Under the OLX / Naspers umbrella, the company is very well positioned to continue to disrupt the South African classifieds market through continued innovation and product development.”
This represents GP Bullhound’s 19th transaction in 2017 and further demonstrates the firm’s global footprint and continued work with category leading businesses in the online marketplace and ecommerce sectors, following on from other significant transactions including the sale of Anumex to Schibsted and fundraisings for Avito, Zuto and Delivery Hero.
For enquiries, please contact Hugh Campbell at firstname.lastname@example.org, Nick Horrocks at email@example.com or Javed Huq at firstname.lastname@example.org
About GP Bullhound
GP Bullhound is a leading technology investment and advisory firm, providing transaction advice and capital to the best entrepreneurs and founders in Europe and beyond. Founded in 1999, the firm today has offices in London, San Francisco, Stockholm, Berlin, Manchester, Paris, Hong Kong and Madrid. For more information, please visit www.gpbullhound.com, or follow on Twitter @GPBullhound
About AutoTrader South Africa
AutoTrader.co.za is the largest automotive marketplace in South Africa and gets over 5 million visits each month to online platforms with car shoppers conducting millions of searches across more than 77,000 vehicles on mobile, tablet, desktop devices and apps. AutoTrader.co.za uses state-of-the-art technology to bring motor vehicle buyers and sellers together. In addition, it was the first in its category in South Africa to launch a fully mobile responsive website. World class iOS and Android applications mean car shoppers can car shop anywhere, anytime.