GLNS advises founder of momox on participation by Verdane

Private equity fund Verdane Capital acquires a substantial stake in re-commerce market leader momox. Verdane becomes a new shareholder by way of capital increase and acquisition of shares from momox’ founder Christian Wegner, who will stay involved as momox’ largest shareholder and managing director.

momox is Germany’s leading online re-commerce platform for used books, CDs, DVDs, computer/video games and clothing. Founded by Christian Wegner in 2004, the company has grown to more than 1,300 employees at three sites and offers its service in Germany, the United Kingdom, France and Austria. Today momox is the biggest vendor for used goods on Amazon and eBay in Germany and the biggest vendor on Amazon worldwide.

Verdane invests in consumer internet, software, energy or high-technology industry companies in Northern and Central Europe. Since 2003, Verdane funds have invested in over 300 companies, in Germany amongst others in Smava, CareerFoundry, Kyto and navabi.

GLNS comprehensively advised Christian Wegner on legal and tax matters in the context of the transaction. The GLNS team consisted of partners Daniel Gubitz (Corporate/M&A) and Andreas Scheidle (Tax) as well as counsel Carolin van Straelen (Corporate/M&A). A team of Acxit Capital Partners led by Mathis Wilke acted as financial adviser. Verdane was advised by a team from White & Case around Matthias Kiesewetter.

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