Leading Classifieds Aggregator Trovit Sold to NEXT for €80 Million

NOAH Advisors acted as the exclusive advisor to Trovit and its shareholders

NOAH Advisors Completed Transaction Trovit

Deal Team

Iñaki Ecenarro, Daniel Giménez,
Raul Puente, Luis Martín Cabiedes,
Jesús Monleón
NEXT Co. Ltd.:
Takashi Inoue, Keizo Tsutsui
NOAH Advisors:
Marco Rodzynek, Jan Brandes,
Marija Sevcenko, Nikhil Parmar
Rousaud Costas Duran SLP:
José María de Paz, Iñaki Frías

Transaction Summary

  • On 7 October 2014, 100% of leading classifieds aggregator Trovit (www.trovit.com) announced the acquisition by publicly listed Japanese real estate information services provider NEXT (www.next-group.jp)
    – Closing is subject to conditions precedent and expected for November 2014
  • Trovit will allow NEXT to build a massive platform offering real estate and lifestyle information from across the world

Overview of Trovit

  • Launched in 2006 in Barcelona, Trovit is the world’s leading classifieds aggregator, providing its users with access to listings in real estate, cars, jobs, products and other segments
    – Trovit has expertise in successfully operating websites worldwide, 20k content partnerships in 40 countries, and a base of 47m unique monthly visitors
  • Trovit’s proprietary search engine technology allows users to swiftly find most relevant classifieds ads and narrow them down with enhanced and easy-to-use functionalities
  • Trovit generated revenues of €17.6m and EBIT of €5.9m in 2013
  • The company is run by a highly experienced management team led by CEO Iñaki Ecenarro, who will join NEXT and continue to manage Trovit

NOAH Advisors’ Role

  • NOAH Advisors acted as the exclusive financial advisor to Trovit and its shareholders, exploring options with a number of strategic and financial investors
  • Trovit has been in a close relationship with NOAH Advisors for a number of years and has presented at the NOAH Conference 2011 in London and 2012 in San Francisco