Berlin - The leading American home service marketplace, HomeAdvisor (www.homeadvisor.com), and Germanys leading craftsmen portal MyHammer (www.my-hammer.de) are joining forces. HomeAdvisor, the operator of the leading home services marketplace in both North America and Europe and an operating business of IAC, today announced that it has agreed to acquire the majority stake in MyHammer from Holtzbrinck Digital. HomeAdvisor also announced that it intends to commence a tender offer to acquire the remaining publicly-held stake in MyHammer. The transaction is subject to clearance from German regulatory authorities, which all parties expect to be granted in the next few weeks.
With the transaction, MyHammer becomes part of a family of leading European service marketplaces, including the market leaders Travaux.com (www.travaux.com) in France and Werkspot (www.werkspot.nl) in the Netherlands. The group encompasses nearly two million jobs across six markets with gross market value of more than €4 billion, and approximately 60,000 service professionals conducting business.
“We are extremely excited to add the MyHammer team, the MyHammer brand, and the MyHammer network of craftsmen to the HomeAdvisor International family,” said Jeff Kip, CEO of HomeAdvisor International. “This acquisition is an important step toward our goal of building a European home services champion and replicating HomeAdvisor’s tremendous domestic success in Europe, a market comparable in both size and characteristics to North America.”
„We see an enormous chance in the strategic acquisition by HomeAdvisor, both for our team and our platform “, adds Claudia Frese, CEO of MyHammer. „With digitization reaching more and more areas of daily live, the online search for service professionals is becoming a standard. MyHammer has successfully connected consumers with craftsmen over the internet for over ten years. Now we are looking forward to leverage the wide range of knowledge within the HomeAdvisor family in order to further develop our business. With HomeAdvisor, we are gaining a strong lead investor with extensive area expertise who is highly interested to support our continuous growth “, said Frese.
CatCap advised Holtzbrinck Digital GmbH exclusively on the sale of their majority stake in MyHammer to HomeAdvisor, an IAC company.
CatCap and the international M[&]A network Globalscope offer integrated cross-border M[&]A consulting services for medium-sized transactions. CatCap – a partner led corporate finance firm – advises businesses and shareholders to realise their strategic objectives ensuring the highest level of quality. CatCap is based in Hamburg and Munich with 25 employees. Globalscope has 45 members in 37 countries with more than 500 professionals worldwide. For further information about CatCap, please visit www.carlsquare.com.