ARQIS has advised the management of the Avedo Group, one of Germany’s leading dialogue marketing specialists, during the sale of the company.
The Cologne-based media company Ströer is acquiring 75 percent of the shares from the investor Seafort Advisors as well as from the management – which, however will hold a significant stake in Avedo through a 25 percent share and lead Avedo’s operational business moving forward. The deal is subject to approval by the German Federal Cartel Office and other common conditions.
By acquiring Avedo and moving into the area of performanceoriented dialogue marketing, Ströer has added an additional channel to its portfolio and, in doing so, has expanded its own sales activities. Ströer’s engagement in performance marketing business is focused on the online, display and e-mail channels, while Avedo predominantly works with the chat and telephone channels in marketing third-party products. Ströer expects to generate an additional sales contribution from this acquisition – before synergies – of more than EUR 60 million per year with an EBIT margin in the lower double-digit range.
With its double-digit annual growth rate, Avedo is one of the fastest growing providers in the industry. It employs some 1,850 employees at six different locations in Germany. Further substantial growth is expected in the current financial year.
ARQIS has advised the management of Avedo for the first time. The contact was established by the lead partner, Dr. Lars Laeger, who joined ARQIS from Clifford Chance in July of last year.
Advisors to Avedo‘s management
ARQIS Rechtsanwälte (Düsseldorf): Dr. Lars Laeger (Lead; Corporate/M&A), Dr. Tobias Brors (Labour Law); Associates: Thomas Chwalek (Corporate/M&A), Inka Müller-Seubert (Labour Law)