O3 Industries and Novum Capital to acquire Gumtree and Motors.co.uk from Adevinta.

O3 Industries, a New York-based family investment fund, and Novum Capital, a private equity firm based out of Frankfurt, agreed to acquire Gumtree, a British-based online classified advertisement and community website, and Motors.co.uk, a car search website, from Adevinta, a global classifieds specialist. Financial terms were not disclosed. "We are excited to have reached this agreement to acquire Gumtree UK and Motors.co.uk, an iconic general classifieds as well as automotive marketplace. O3 Industries is a trusted partner for businesses that have both a demonstrated record of innovation and customer service and, at the same time, clear opportunities for continued growth. That is precisely what we see in Gumtree UK and Motors.co.uk. We look forward to working with its talented and experienced team and welcoming its associates into the O3 family," Daniel Ozen, O3 Industries President.