ESSLINGEN, Germany – EQT Expansion Capital II is investing 30 million euro in Germany’s leading online bicycle, fitness and outdoor retailer Internetstores AG. The new investor obtains a minority shareholding in the online retailer operating webshops like Fahrrad.de, Brügelmann, Campz and Fitness.de. as well as Bikester.
Scandinavian EQT investment funds controls a capital of 18 billion euro. According to a press release EQT will not only invest in Internetstores AG and become shareholder but also: “Provide expertise from the broad EQT Industrial network to facilitate growth acceleration and further international expansion”.
'Internetstores AG a sustainable market leader'
“Internetstores AG is a very well-managed company which has outgrown the venture stage to become a successful and sustainable market leader. The company is poised to take the next step on its development path and EQT Expansion Capital is proud to be part of it”, states Hjalmar Winbladh in his roles as serial internet entrepreneur and industrial advisor to EQT Expansion Capital.
“Teaming up with EQT Expansion Capital feels great, I am really impressed by their industrial experience and understanding of our business. Together, we will be able to embark on the next level in Internetstores life cycle”, says René Köhler; Internetstores AG founder and CEO. He remains the majority shareholder. In 2011/12 the Esslingen based company reached a total revenue of 60 million euro.