- Hg remains invested in Athletic Sport Sponsoring following the sale
- Hg invested in MeinAuto.de in 2018
- MeinAuto Group is an online retailer for new cars in Germany
Hg has closed a sale of the MeinAuto and Mobility Concept divisions of MeinAuto Group to Mobilize Lease & Co, a subsidiary of Mobilize Financial Services, part of the Renault Group.
The sale of Mobility Concept and MeinAuto.de represent €1 billion in fleet assets, a fleet of 50,000 vehicles and 250 employees.
MeinAuto Group is an online retailer for new cars in Germany The business was established in 2018, following Hg’s initial investment in MeinAuto.de, a B2C online service for car purchases. The company is based in Munich.
Hg will remain invested in Athletic Sport Sponsoring, a flat-rate car subscription provider and a previous division of MeinAuto Group, which will be built out as a standalone business, according to a press statement.
Based in London, Hg invests in European and transatlantic software and services businesses. Hg manages over $65 billion in funds under management.
Renault Group is is a French multinational automobile manufacturer. The company is headquartered in Boulogne-Billancourt.