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(Alliance News) - Oakley Capital Investments Ltd said Thursday that Oakley Capital IV has agreed to acquire a majority stake in Germany-based gift voucher and gift card firm Seven Miles GmbH.
Based on Oakley Capital will indirectly contribute GBP25 million through its interest in the fund and the transaction is expected to be completed by the end of September.
Seven Miles operates under the brands Wunschgutschein, WishCard, SteuersparCard, and provides multi-brand gift vouchers at many retailers, in store and online.
Once the acquisition is completed, Oakley Capital will support Seven Miles founders Tom Schroder and Valentin Schutt, to continue the company's strong growth.
"We are delighted to be partnering with Tom and Valentin. Seven Miles exhibits many of the characteristics Oakley looks for in a deal - a founder-led, high growth business with a leading position in its niche market, and we look forward to the opportunity we have to build and develop the digital platform together," said Managing Partner Peter Dubens.
Shares in Oakley Capital Investments were down 0.7% at 223.40 pence on Thursday.
