The Market Herald, by comparison, reported revenue of $36 million and $15.8 million of EBITDA in fiscal 2021, and last traded with a market capitalization of $78 million.
The acquisition of GCA Group would significantly increase The Market Herald’s footprint, with Gumtree, Carsguide and Autotrader combined said to attract one in three Australians each month.
More than half of GCA’s revenue comes from the sale of cars from the three brands, MacCap told potential buyers earlier in the auction.
nine says no
Macquarie Capital banker Michael Milne is believed to have introduced the business to Australian media companies and private equity firms with experience in online markets, including UK firm Apax Partners, which owns New Zealand’s online auction business, Trade Me, and acquired a stake in Australia’s Pickles Auctions. month.
Street Talk understands that Nine Entertainment, publisher of the Australian Financial Review, he was in the data room but he left. The media giant run by Mike Sneesby had long relied on consultant Jefferies Australia to help with due diligence.
GCA’s owner, Adevinta of Norway, announced his decision to sell the Australian brands last November following the acquisition of eBay Classifieds Group. Macquarie launched the process with a sales flyer in March, and in May, Adevinta told investors the process was progressing well.
It’s a quick turnaround for Adevinta. The company backed Gumtree’s acquisition of Cox Media’s Carsguide and Autotrader in 2020.
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