Macquarie Capital’s TMT team has been quietly taking a handful of suitors through due diligence for Australian classifieds business GCA Group.
Macquarie Capital’s TMT team has been quietly taking a handful of suitors through due diligence for Australian classifieds business GCA Group, which owns second hand goods marketplace Gumtree and auto ads businesses Autotrader and Carsguide.
While the buyers remain unknown, the process is understood to be coming to a head, with a deal expected to be signed in coming weeks. The bankers talked it up as an attractive investment proposition with 7.5 million audience reach, 2.5 million registered users, $US11 million in gross merchant value and 97 per cent cash conversion.Importantly, the bankers said GCA Group expected 15 per cent annual revenue growth and 40 per cent EBITDA growth between 2022 and 2026, on a compound annual growth rate basis.
The bankers said GCA had 37 million monthly site visits in November last year, for $2 in revenue per visit. Domain had 30 million visits for $7 per visit revenue, while Seek and Carsales had fewer visits but much higher revenue per visit.It’ll be interesting to see who ends up acquiring the business.
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