Car: Autodoc is once again entirely owned by its founders - Apollo exits
One year after the failed IPO, financial investor Apollo has sold its stake in the Berlin online retailer at a profit. Now a new IPO could follow.
Autodoc's founders, Alexej Erdle, Max Wegner, and Vitalij Kungel, have repurchased the 15.2% stake held by US investor Apollo, regaining full ownership of the Berlin-based car parts dealer. Apollo had invested in Autodoc two and a half years ago at a valuation of 2.3 billion euros, and is exiting with a profit. The company was valued at around 4 billion euros in the buyback deal, which was financed with a 530 million euro loan.
Autodoc operates in 27 countries, employs over 5500 people, and generated 1.8 billion euros in revenue last year.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
