Clipperton announces a fourth transaction with Aramisauto.com who continues its international expansion with the acquisition of Cardoen, the leading independent car retailer in Belgium.
- The transaction highlights the long standing relationship between Aramisauto and Clipperton and comes after the majority investment in Spain-based Clicars in 2017, the strategic alliance formed with PSA Group in 2016 and a venture financing in 2009.
- With this transaction, Clipperton demonstrates once again the capabilities of its European advisory platform and its capacity to accompany its clients in their cross-border operations.
- The transaction follows a series of transforming M&A deals announced by Clipperton since January 2018 including the acquisition of Cheers by CEWE [CWC.F], the sale of Foodcheri to Sodexo [SW.PA] and the sale of Quitoque to Carrefour Group [CA.PA].
Paris, March 19th 2018 – Leading European corporate finance firm Clipperton is pleased to announce it acted as buy-side advisor to Aramisauto.com, the French leader of online car distribution, with respect to the acquisition of Cardoen, a Belgium-based car retailer operating 13 points of sales across the country.
The transaction will enable Aramisauto to pursue its international expansion, following a majority investment in Spanish start-up Clicars.com in 2017. Both transactions constitute key milestones in the Group’s strategy aiming to establish Aramisauto as the #1 go-to destination in Europe to buy used cars.
A renowned brand in Belgium, Cardoen was founded in 1949 by Albert Cardoen and later developed by his son Karel Cardoen. The company thrives on an affluent market of more than 700,000 used cars transactions per year and 500,000 new vehicles sold annually. Backed by KeBeK Private Equity since 2015, the company consistently expanded its reach in Belgium and now generates a turnover of EUR 160 million.
The management of Cardoen will continue operating the business, which will benefit from Aramisauto’s strong expertise in selling cars online. With this alliance, both companies intend to share their best practices and mutually leverage outstanding operating synergies.
Commenting on the transaction, Guillaume Paoli and Nicolas Chartier, founders of Aramisauto, said: “our ambition is to become the best and most convenient solution in Europe to buy a car. Cardoen shares the same ambition and the same values as Aramis, with a common entrepreunerial background. We look forward to working with Cardoen’s teams.”
Wim Vos, CEO of Cardoen, added: “the strong growth of Cardoen in Belgium naturally led us to consider international expansion. We found with Aramisauto the perfect partner: a great e-commerce experience and a European ambition. Leveraging the digital expertise of Aramisauto.com, Cardoen will pursue its growth and continue to propose the best experience to buy a car.”
The transaction is subject to regulatory approval by Belgian authorities.
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Clipperton is a leading European corporate finance advisory firm exclusively dedicated to the Technology & Internet industries, advising innovative companies on M&A transactions, debt financings and equity offerings. With offices in London, Paris, and Berlin and an international reach, Clipperton is a European top-tier player in technology financial advisory. Over the past 15 years, the team has successfully completed more than 230 high profile transactions globally. For more details please visit www.clipperton.net
Since its creation, Aramisauto.com transforms the purchase of used cars (full online purchase, 100% money back warranty, refurbished used vehicle) and offers simple, unique and innovative consumers solutions to buy a car.
Aramisauto.com offers over 2,000 cars of more than 30 brands on its online platform and has marketed more than 36 000 vehicles in 2017. The company employs 500 people and has served more than 170,000 customers since its creation.
Learn more about how Aramisauto.com is changing the car retail industry and visit our website dedicated to journalists and influencers.