Hg has sold its 'MeinAuto' and 'Mobility Concept' divisions to Mobilize Lease & Co, while retaining investment in Athletic Sport Sponsoring, a leading flat-rate car subscription service in Germany.

Information on the Target

Hg has successfully finalized the sale of the 'MeinAuto' and 'Mobility Concept' divisions, part of the MeinAuto Group, to Mobilize Lease & Co, a subsidiary of Mobilize Financial Services under the Renault Group umbrella. MeinAuto Group has established itself as a prominent online retail platform for new vehicles in Germany, revolutionizing the conventional vehicle sales model through a comprehensive digital delivery system. Founded in 2018, following Hg’s initial investment in MeinAuto.de, their business model emphasizes direct-to-consumer online transactions for automobile purchases.

The sale encompasses substantial assets, including a fleet valued at €1 billion, comprising 50,000 vehicles and a workforce of 250 employees. Despite this transaction, Hg will continue to hold an investment in Athletic Sport Sponsoring, the leading provider of flat-rate car subscriptions in Germany, which has now emerged as a distinct entity from the MeinAuto Group.

Industry Overview in Germany

The automotive industry in Germany, one of the world's largest car markets, is undergoing significant transformation driven by technological advancements and the shift towards digital platforms. As consumer preferences lean towards online pu