NORFOLK, Va. — Dominion Web Solutions announced today 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, and Eurazeo, a 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 more than 7 million unique visitors monthly and serve more than 6,700 customers in their respective industries, the release noted.
“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,” she added.
“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. The consummation of the sale, which is subject to customary closing conditions, is expected to be completed within 30 days of today’s announcement.
SOURCE: Dominion Enterprises press release
This marks the 25th announced consolidation within the RV industry since Jan. 1, according to reports published by RV Daily Report. Some deals may have been announced during RV Daily Report’s end-of-year break in late 2016, but the news was published after the new year. Here is the current 2017 RV industry consolidation scorecard:
- Jan. 3 – Camping World acquires RV World of Georgia
- Jan. 10 – Camping World acquires RV-Max: Three locations in Texas
- Jan. 19 – Camping World buys Jamatt RV in Oklahoma
- Feb. 2 – Camping World buys Nelson’s RV in Idaho
- Feb. 16 – Camping World acquires McGeorge’s RV in Virginia
- March 3 – Willkins RV acquires Ballantyne RV in New York
- March 8 – Camping World acquires Safford RV in Virginia
- May 1 – Camping World acquires Gander Mountain, Overton’s
- May 9 – Apollo acquires CanaDream, Kratzmann Caravans and Clint’s Caravan Warehouse
- Jan. 2 – REV Group takes over Renegade RV
- Feb. 10 – Hymer acquires Explorer Group in England
- April 13 – REV Group acquires Midwest Automotive Designs
- May 5 – KV Private Equity acquires Northern Lite
- Jan. 2 – Covercraft acquires ADCO
- Feb. 2 – Dexter acquires Tie Down Engineering
- Feb. 9 – Lippert Components acquires Sessa Klein
- March 16 – Ultrafabrics merges with Daiichi Kasei Company
- March 20 – Patrick Industries acquires Medallion Plastics
- April 3 – Valterra acquires Diamond Group
- April 4 – The Eastern Company acquires Velvac
- April 12 – Power Products acquires Progressive Industries
- April 28 – Boomerang acquires United Roll Forming division
- May 11 – Dominion Services (RV Trader) acquired by West Street Capital Partners
- Jan. 20 – Zeman Homes buys Paradise Camping Resort in Grand Prairie, Ill., and Seasons in the Sun RV Resort in Mims, Fla.
- April 4 – Diversified Investment Companies acquires Hidden Creek Camping Resort in Marion, N.C.