Investment in Afterbuy and DreamRobot

07 June 2021

Oakley Capital Investments Limited

Oakley Capital Investments Limited¹ ("OCI") is pleased to announce that Oakley Capital Origin Fund² ("Origin Fund") has acquired controlling stakes in Afterbuy and DreamRobot, leading providers of e-commerce software in the German-speaking region.

OCI's indirect contribution via Origin Fund will be £6 million.

Note that the above figure only relates to OCI's share of Origin Fund's overall investment in Afterbuy and DreamRobot.

OCI's liquid resources available for future deployment (including this transaction) are estimated to be £173 million.

Further details on the transaction can be found in the below announcement from Oakley Capital³.

Investment in Afterbuy and DreamRobot, leading providers of e-commerce software in the German-speaking region

Oakley Capital is pleased to announce that Oakley Capital Origin Fund ("Origin Fund") has acquired controlling stakes in Afterbuy and DreamRobot, two leading providers of e-commerce software in the German-speaking region, which will be combined to become the newly formed ECOMMERCE ONE Group (the "Group").

The two companies provide a comprehensive suite of Software as a Service ("SaaS") solutions for small to mid-sized online merchants selling their products through web shops and online marketplaces, such as Amazon or eBay. The platform enables its users to manage and automate difficult, manual and time-critical processes, such as multi-channel product listing, data collection and stock management. Together, more than €50 billion of Gross Merchandise Volume has been processed across the businesses to date.

The two investments mark the beginning of a strategy aimed at solidifying the Group's position as the market-leading provider for small and medium-sized online merchants in the DACH region. Oakley will support the growth of the businesses through its operational experience and software buy-and-build expertise, drawing on its track-record of successful investments in WebPros and Ekon.

The e-commerce software market is experiencing rapid growth, underpinned by a structural shift as consumers increasingly transact online and retailers launch and expand their online offerings. Software tools such as Afterbuy and DreamRobot enable merchants' e-commerce success by simplifying tasks and providing a comprehensive overview and control centre for all sales and transaction processes, which results in loyal customer bases and recurring subscription revenues.

The deal was introduced to us by Valentin Schütt, who Oakley partnered with on Oakley Capital Fund IV's investment in Wishcard Technologies Group in 2019. The investment demonstrates the importance of Oakley's entrepreneur network for both repeated sourcing of proprietary deals and leveraging deep knowledge of businesses and growth industries.

Peter Dubens, Managing Partner of Oakley Capital, commented:

"This is another example of Oakley's repeated partnering with talented and trusted business founders, helping us to uncover attractive opportunities that others may not be able to access. As merchants continue to increase their online presence across multiple channels, we see a significant opportunity to build the go-to platform in e-commerce software alongside a talented management team."  

Daliah Salzmann, CEO of Afterbuy, commented:

"In partnering with Oakley, we look forward to building Germany's leading e-commerce software provider. A combination of this initial platform investment, a fragmented marketplace and Oakley's expertise will result in ECOMMERCE ONE being the principal supplier of software solutions to small and medium sized online retailers."

- ends -

For further information please contact:

Oakley Capital Limited

+44 20 7766 6900

Steven Tredget, Investor Relations

Greenbrook Communications Limited

+44 20 7952 2000

Alex Jones / Michael Russell / Catriona Crellin

Liberum Capital Limited (Financial Adviser & Broker)

+44 20 3100 2000

Chris Clarke / Darren Vickers / Owen Matthews

Notes:

LEI Number: 213800KW6MZUK12CQ815

¹ About Oakley Capital Investments Limited ("OCI")

OCI is a Specialist Fund Segment ("SFS") traded investment vehicle that aims to provide shareholders with consistent long-term capital growth in excess of the FTSE All-Share Index by providing liquid access to private equity returns through investment in the Oakley Funds².

A video introduction to OCI is available at https://oakleycapitalinvestments.com/videos/

The contents of the OCI website are not incorporated into, and do not form part of, this announcement.

² The Oakley Funds

Oakley Capital Private Equity L.P. and its successor funds, Oakley Capital Private Equity II, Oakley Capital Private Equity III, Oakley Capital IV and Oakley Capital Origin Fund are unlisted lower-mid to mid-market private equity funds that aim to provide investors with significant long-term capital appreciation. The investment strategy of the Funds is to focus on buy-out opportunities in industries with the potential for growth, consolidation and performance improvement.

³ Oakley Capital, the Investment Adviser

Founded in 2002, Oakley Capital Limited has demonstrated the repeated ability to source attractive growth assets at attractive prices. To do this it relies on its sector and regional expertise, its ability to tackle transaction complexity and its deal generating entrepreneur network.

Important information

Specialist Fund Segment securities are not admitted to the Official List of the Financial Conduct Authority. Therefore, the Company has not been required to satisfy the eligibility criteria for admission to listing on the Official List and is not required to comply with the Financial Conduct Authority's Listing Rules.

The Specialist Fund Segment is intended for institutional, professional, professionally advised and knowledgeable investors who understand, or who have been advised of, the potential risk from investing in companies admitted to the Specialist Fund Segment.

This announcement may include "forward-looking statements". These forward-looking statements are statements regarding the Company's objectives, intentions, beliefs or current expectations with respect to, amongst other things, the Company's financial position, business strategy, results of operations, liquidity, prospects and growth. Forward-looking statements are subject to risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future.  Accordingly the Company's actual future financial results, operational performance and achievements may differ materially from those expressed in, or implied by, the statements. Given these uncertainties, prospective investors are cautioned not to place any undue reliance on such forward-looking statements, which speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect actual results or any change in the Company's expectations with regard to them or any change in events, conditions or circumstances on which any such statements are based unless required to do so by the Financial Services and Markets Act 2000, the Listing Rules or Prospectus Regulation Rules of the Financial Conduct Authority or other applicable laws, regulations or rules.