LensOn is the leading independent online retailer of contact lenses in the Nordic region. Verdane acquired the company in 2006, through a portfolio acquisition from Aggregate Media Funds. At the time, LensOn focused exclusively on the Swedish market. Since then, the company has grown from local Swedish to true Nordic player, by expanding into Denmark, Finland and Norway. In 2006, all revenues were generated in Sweden whereas about 50% of revenues in 2012 stem from other countries. During the same period, revenues have grown more than sixfold.
“Verdane funds are owners of a large number of successful e-commerce companies. LensOn is a perfect example of what can be achieved through a Nordic expansion strategy, and this is something we pursue in many of the e-commerce holdings” says Staffan Mörndal, Partner at Verdane Capital Advisors.
During Verdane’s ownership, LensOn has grown its number of employees from a handful to 30. While increasing the product range to offer a complete assortment of contact lenses online, the company has also built a logistics function where close to 100% of orders are sent from the warehouse within 24 hours of an order being placed.
“Verdane’s expertise in the e-commerce space has helped us accelerate the development in LensOn far beyond our expectations” says LensOn CEO and co-founder Kim Persson. “What started out as a small Swedish business is now a leading player, capable of attracting a major European group as a buyer. We are looking forward to continuing to our rapid growth across the Nordic markets and beyond.”
About LensOn
Founded by Kim Persson and Johan Bergenheim, LensOn is the leading independent online retailer of contact lenses in the Nordic region:
The company sells contact lenses through local language sites across Sweden, Norway, Finland, Denmark, the Netherlands, Germany, France and the UK, with over 50% of sales outside of its home Swedish market
LensOn is located in Stockholm, Sweden, with 30 employees.
About Verdane
Verdane is a specialist growth investment firm that partners with tech-enabled and sustainable European businesses. Verdane can invest as a minority or majority investor, either in single companies or through portfolios of companies, and looks to deploy inside two core growth themes; digitalisation and decarbonisation.
Verdane funds hold over €6 billion in total commitments and have made over 400 investments in fast-growing businesses since 2003. Verdane’s team of over 140 investment professionals and operating experts, based out of Berlin, Munich, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the preferred growth partner to tech-enabled and sustainable businesses in Europe.
Verdane is also a certified B Corporation, the most ambitious sustainability accreditation globally. The firm only backs businesses that pass its 2040 test, which indicates whether the company can thrive in a more sustainable future economy.
Verdane is partly owned by the Verdane Foundation, which is focused on two areas: climate change and more equitable and inclusive local communities.
More info: www.verdane.com
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