EQS-News: The Platform Group AG acquires further stakes in Lott Fahrzeugteile-Plattform

The Platform Group AG acquires further stakes in Lott Fahrzeugteile-Plattform

Düsseldorf, 01 December 2023. The Platform Group AG (ISIN DE000ASQEFA1, „TPG“), a leading software company for platform solutions, announces the acquisition of further stakes in Werner Lott Kfz.- und Industriebedarf GmbH ("Lott Fahrzeugteile-Plattform").

Since 2021, The Platform Group AG has been the majority shareholder in Lott Fahrzeugteile-Platform and has successfully expanded the platform strategy with The Platform Group AG's software solutions. More than 700,000 products are now sold on the platforms by partners across Europe, and around 100 people are employed at the Uslar site.

The additional acquisition of a 25% stake in Lott Fahrzeugteile-Platform was completed as of December; according to the purchase agreement, the acquisition will take place in two stages. The closing is expected to be completed in February 2024. From this date, The Platform Group AG will hold 100% of the stake in the company.

“When we joined Lott two years ago, we were able to significantly increase growth and implement software solutions; turnover for 2023 is now in the high double-digit millions and it's profitable. The number of partners is also growing. We are therefore delighted to now increase our stake to 100%,” says Dr. Dominik Benner, CEO of The Platform Group AG.

For Reinhard Hetkamp, CFO of The Platform Group AG, this is a continuation of the Group-wide investment strategy: “We have enough financial strength to implement our active investment strategy and further increase the stakes in our investments. We will continue to implement this in 2024.”

In the coming year, The Platform Group AG plans to acquire a further 3-8 companies, both in the B2B and B2C sectors.

The Platform Group AG:

The Platform Group AG is a software company that is active in 18 sectors with its own platform solutions. Its customers include both B2B and B2C customers in sectors such as furniture trading, machinery trading, dental technology, car platforms, and luxury fashion. The group has 14 locations across Europe with 680 employees. Over 20 investments and company acquisitions have been made since 2020.

Contact:

Investor Relations
Reinhard Hetkamp
+49 170 444 2006
ir@the-platform-group.com
Schloss Elbroich | Am Falder 4 | 40589 Düsseldorf | Germany