The international law firm Milbank LLP has advised NuCom on the acquisition of a majority stake in Aroundhome.
The ProSiebenSat.1 Group continues to expand its high-growth commerce portfolio. To this end, the NuCom Group, the commerce business of ProSiebenSat.1, is increasing its voting shares in Aroundhome from 42 percent to 94 percent. General Atlantic sells Aroundhome shares to NuCom in exchange for an additional stake in NuCom. The transaction has an enterprise value of €140 million. Aroundhome previously operated under the name Käuferportal and was renamed on January 2, 2019.
Aroundhome, founded in 2008, is Germany's largest online broker for products and services around the house, helping millions of people find the right local company when selecting a solar panel system, new windows or kitchen design. The company is the German equivalent to large digital US marketplaces for services, such as the ANGI Homeservice platforms HomeAdvisor and Angie's List as well as Yelp. Aroundhome has been part of ProSiebenSat.1's commerce portfolio since November 2016.
The transaction is subject to approval by the antitrust authorities.
A Milbank team led by Martin Erhardt advised NuCom on corporate, tax and competition law in relation to the acquisition.
Advisor NuCom: Milbank LLP
Martin Erhardt (lead, Corporate/M&A, Munich), Thomas Kleinheisterkamp (Tax, Munich), Ulrike Friese-Dormann, Christoph Rothenfußer, Michael Pujol, Sebastian Reiner-Pechtl, Dominik Waldvogel, Malte Krohn, Lukas Kleinschmitt, Johannes Wohlmuth (all Corporate/M&A, Munich), Alexander Rinne, Vanessa Van Weelden (both Competition Law, Munich).
Inhouse ProSiebenSat.1 Media SE
Holger Kämpgen (Senior Vice President Corporate/M&A), Moritz Graf von Merveldt (Chief Compliance Officer), Stefan Mayer (M&A Tax).
