Altium has advised Comtech, a leading multi-category online retailer, on the majority acquisition by Komplett Group. Altium was retained as sell-side adviser based on its track record in the eCommerce space and its strong relationships to the most relevant buyers.
Comtech, which is headquartered in Aspach, Germany and operates mainly in Germany, offers a broad range of products in various areas including consumer electronics (CE), IT, household, garden and outdoor. The Company consists of 2 legal entities, allowing Comtech to optimise sourcing and pricing. Comtech operates the online shop comtech.de and various B2C activities.
Komplett Group is a privately held Norwegian eCommerce company operating 14 webshops and the No. 1 in Scandinavia. The product assortment is focused on CE, IT and white goods and has strong synergies with Comtech’s product assortment. Komplett Group seeks to expand to Germany, so Comtech is a perfect partner to help Komplett fulfil its strategic aims.
The founders and senior management team of Comtech, consisting of Joachim Ehmann and Ralf Kern, will remain significant shareholders and will continue to be responsible for further developing the business.
Altium acted as sole financial advisor to the shareholders of Comtech. Terms of the transaction were not disclosed.