Global law firm White & Case LLP has advised private equity investor Verdane on the increase of its stake in recommerce provider momox.
Verdane, which has been investing in the recommerce platform since 2018, has acquired the momox shares from Acton Capital and is now holding 85 percent. momox grew its sales by 61 percent during 2019. The parties agreed not to disclose the volume and details of the transaction.
Verdane provides growth capital for tech-enabled businesses with international growth ambitions. Its eight funds hold total commitments of around €2 billion and includes investments in Desenio, EasyPark, Farmasiet, Mathem and momox, among others. Verdane employs 54 people based in Berlin, Copenhagen, Helsinki, London, Oslo and Stockholm.
momox is a leading European online platform for used books, CDs, DVDs, computer/video games and clothing. Founded in 2004, the company now employs more than 1,900 people in six locations. momox is the world's biggest vendor of used goods on amazon and the number three on eBay.
The White & Case team which advised on the transaction was led by partner Matthias Kiesewetter (Hamburg) and included partners Henrik Wireklint (Stockholm), Alexander Kiefner and Bodo Bender (both Frankfurt), local partners Jochen Hoerth and Tomislav Vrabec (both Frankfurt) and associate Moritz Müller-Buttmann (Hamburg).
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