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Apollo退出Autodoc 创始人回购

PE Insights •
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Apollo退出了其在Autodoc的少数股权,该公司是欧洲最大的汽车零部件在线零售商,位于柏林的创始人以5.3亿欧元杠杆贷款的交易回购了全部所有权。Apollo于2024年4月进入该业务,以23亿欧元的股权估值 acquiring approximately 15% at a €2.3bn equity valuation alongside institutional investors. The deal was structured through Apollo's Hybrid Value strategy, designed as a time-limited investment to professionalize governance and prepare for institutional capital markets or a possible flotation. However, Autodoc delayed its planned listing due to volatile markets and renewed geopolitical tensions early in 2026, opting instead to access debt markets for the first time with a seven-year term loan to fund the buyback.

With the transaction closed, the two Apollo representatives on Autodoc's supervisory board will step down, leaving a board composed of the three founders and three independent members. Founded in Berlin in 2008, Autodoc now offers around 7.8m products from roughly 2,700 manufacturers and operates online shops across 27 European countries, employing more than 5,500 people. It generated sales of €1.8bn in 2025, up from €1.6bn a year earlier, and had grown net revenue at a 26% compound annual rate over the five years to 2023, when it reported adjusted earnings of €130m.

Jeremy Honeth, Partner, Hybrid Value at Apollo, stated it had been a privilege to partner with the founders during this transformative period.