New owners for CycleTrader.com parent
Dominion Web Solutions announced that it has entered into a definitive agreement to be acquired by West Street Capital Partners VII, a fund managed by the Goldman Sachs Merchant Banking Division (“GS MBD”), and Eurazeo, a leading global investment company listed in Paris.
The Dominion Web Solutions brand portfolio includes the business to consumer websites Cycle Trader, RV Trader, ATV Trader, PWC Trader, Snowmobile Trader and Aero Trader, as well as the business to business brands Commercial Truck Trader, Commercial Web Services, Equipment Trader, and RV Web Services. Collectively these businesses attract over 7 million unique visitors monthly and serve over 6,700 customers in their respective industries.
“Dominion Web Solutions is excited to join the GS MBD and Eurazeo family. With their experience and long-term strategic vision, GS MBD and Eurazeo are ideal partners to help us enhance our platform and accelerate our growth.” said Lori Stacy, president of Dominion Web Solutions. “Our brands’ focus and dedication to finding innovative ways to bring buyers and sellers together are never-ending. This change in ownership represents a new chapter and opportunity to accelerate our growth and the services we provide to our customers across all of the industries we serve.”
“We were attracted to the innovative approach taken in their marketplaces and the team’s passion for both their consumers and customers,” said Harsh Nanda, managing director of Goldman Sachs.
“We are excited about partnering with the team to accelerate their growth, extend their market leadership and foster new initiatives within the Dominion Web Solutions portfolio of brands,” said Virginie Morgon, deputy CEO of Eurazeo and president and CEO of Eurazeo North America.
GS MBD and Eurazeo were advised by RBC Capital Markets. Dominion Enterprises was advised by Evercore (M&A advisor). The consummation of the sale, which is subject to customary closing conditions, is expected to be completed within 30 days of this announcement.
