Background • Founded in 1984 and based in Norderstedt, Germany, TOOLPORT is the leading European online provider of professional tents and spare parts for the consumer and industrial markets • TOOLPORT operates an online distribution model supported by a specialised and high-quality customer service team • TOOLPORT's product portfolio includes a broad range of professional tents, such as party tents, portable garages or arched shelters, catering to the various use cases of both B2C and B2B customers • TOOLPORT distinguishes itself through superior product quality, best-in-class availability, and exceptional customer service • Based on over a decade of strong, profitable and self-financed growth, the owner decided to seek a strong partner who would support TOOLPORT in its future development to reach the next stage in the company's history Process • DC Advisory (DC) was engaged by the shareholder to act as exclusive sell-side advisor • DC ran a full scope M&A process, including a lender education and vendor due diligence • DC sustained strong investor interest in the transaction and collected a high number of attractive offers to encourage optimum bidder competition throughout Outcome • Four months after the market approach, the future partner for TOOLPORT was identified and the purchase agreement signed • The sole shareholder of TOOLPORT sold a majority stake in the company to The Riverside Company, in combination with a significant reinvestment • The parties have agreed to keep the purchase price confidential
CEO and sole shareholder of TOOLPORT commented:
DC Advisory was an experienced and reliable partner throughout the whole sale process and supported TOOLPORT, and myself, in identifying the right partner. Riverside has a strong track record of partnering with founders to grow businesses internationally. Their experience, expertise and network will enable us to make TOOLPORT bigger and better.
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