Press Release

June 9 2021

PINOVA Capital invests in adzLocal GmbH

Funds advised by PINOVA Capital GmbH (“PINOVA”) acquired the majority of shares in adzLocal GmbH (“adzLocal”) based in Hamburg in June 2021.

Using an online marketing mix consisting of Google AdWords, conversion-optimized landing pages and contact tracking, adzLocal supports more than 2,000 hyperlocal businesses in winning new customers. adzLocal's value proposition is centered around an in-house developed software that allows for efficient and targeted allocation of small marketing budgets and hence low cost per new customer.

"We are happy to have found an experienced investor that embraces our corporate values of honesty, fairness and transparency. Considering PINOVA's experience and network, we are confident to drive and accelerate business growth." explain the managing directors Marina Beyer and Dietrich Wedegärtner who (re-)invest in adzLocal in the course of the transaction.

"By leveraging its proprietary software solution, adzLocal is capable of allocating small marketing budgets in an automated and hence efficient manner. Congruously, adzLocal does not only assist hyperlocal businesses in capitalizing on the opportunities of digitalization but also serves a protected niche market with attractive growth potential." comments Jean-Marie Hofbauer, Director at PINOVA Capital.

About adzLocal GmbH

adzLocal, founded in 2009 by Dietrich Wedegärtner, is headquartered in Hamburg and currently has 41 employees. adzLocal offers innovative Google campaigns, conversion-optimized landing pages and contact tracking and thus assists its clients in winning new business. adzLocal targets hyperlocal businesses with monthly ad budgets starting from €300 and offers continuous customer acquisition for a transparent price.

About PINOVA Capital

PINOVA Capital is an independent private equity firm investing in high-growth technology companies in German-speaking regions. PINOVA Capital focuses on "Mittelstand" companies with sales between €10 million und €75 million in the sectors industrial technology and information technology, characterized by significant growth potential, sustainable competitive advantages and a strong market position in their niche.

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