Oakley Capital to buy German consumer tech company – The UK and Europe focused private equity investment company, Oakley Capital Investments (OCI), has announced that Oakley Capital is acquiring a majority stake in Seven Miles GmbH (Seven Miles), partnering with its founders, Tom Schröder and Valentin Schütt. OCI will make an indirect contribution of around £25m through its interest in Fund IV; the transaction is expected to close by the end of next month (September).
Seven Miles operates in the gift voucher and B2B gift card space
Seven Miles is based in Germany and is a leading consumer technology company in the gift voucher and B2B gift card sector. OCI notes that since Seven Miles was founded in 2014, it has grown rapidly to become one of the leading physical and digital gift card networks in the DACH region (Germany, Austria and Switzerland).
In 2019, Seven Miles is expecting to sell gift solutions in excess of €100m, following strong growth. The market for multi-brand gift cards in Germany is expected to grow at over 15% in the coming years, as consumers increasingly value the convenience and flexibility that make gift cards an attractive present for many occasions.
Seven Miles offers a diverse range of gift card and employee incentive subscription products to both consumers and businesses.Its platform connects more than 500 brands to the majority of German retailers, covering more than 60,000 points of sale.
The investment in Seven Miles continues OCI’s track record of backing founder managers in consumer technology platforms and in the DACH region.
OCI: Oakley Capital to buy German consumer tech company
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