Verdane buys shares in seven companies from Aggregate Media
Stockholm — Verdane Capital VIII (Verdane) has bought shares in seven companies from Aggregate Media. Of particular interest is Funera, Sweden’s most widely used online funeral home. The private equity fund, Verdane, will advise the companies in enhancing their growth trajectory.
”We already have extensive experience from guiding the growth of 37 e-commerce companies. Therefore, we have many concrete proposals on driving both short and long term value creation,” says Henrik Aspén, Partner at Verdane Capital Advisors. “The effects of digitalisation are evident for every sector in the global economy. For example, the fact that Funera is now Sweden’s tenth largest funeral home shows that even relatively conservative niches can be developed and, thanks to the internet, be able to offer their clients new services.”
The deal with Aggregate Media is the fifth undertaken with Verdane funds since 2006. Including the 7 companies to be acquired, this brings the total to 44 companies acquired by various Verdane funds from Aggregate Media. In addition to the capital contribution, Verdane Capital Advisors will reinforce the companies’ development with solid e-commerce expertise and network.
”We are confident that the companies joining the Verdane VIII portfolio will have exciting journeys ahead of them,” says Patrik Rosén, CEO at Aggregate Media. “After cultivating them to their current stage of growth, we know they will benefit greatly from Verdane Capital Advisors’ skills-set and network in their next phase of development. Aggregate Media will continue the journey in 2016 to raise our eighth fund and invest in exciting new companies.”
For consumer goods companies that are growing rapidly, gaining advertising space in media often forms the largest component of their cost base. If they have to hold back on marketing due to liquidity or performance issues, these companies are often unable to reach their full potential. Aggregate Media funds therefore provide expansion capital for small Swedish companies so that they are able to increase their marketing in the media space and significantly improve their development.
When companies reach a certain size and maturity in Sweden, it is natural for many of them to expand further into the other Nordic countries, or expand into new areas in Sweden. Verdane funds have, on four previous occasions, invested in companies supported by Aggregate Media’s funds, to help them in their next phase of development. Amongst others, these companies include Bemz, Compricer and MatHem.se.
Companies in the transaction
Allinc (online travel agent)
Consector (loan and credit intermediaries)
Ecoride (Scandinavia’s leading electric bicycles producer)
Funera (funeral services online and over the phone)
Schoolido (digital learning platform for grades 7 – 9)
Stor & Liten (toys online)
Smart Senior (loyalty cards for pensioners)
Verdane funds support Nordic companies that have high ambitions in IT, energy and high-tech industries with flexible growth capital. The Funds are distinctive in that they can either purchase an entire portfolio, parts of a portfolio or a single position, from a portfolio of unlisted assets. Funds’ total equity amounts to over Skr 6 billion and investors are comprised of pension funds and insurance companies, amongst others. Since 2003, Verdane funds have acquired 26 portfolios with interests in around 300 companies. E-commerce investment is one area of particular focus for the funds. Existing and prior investments include, for example, Bemz, Boozt, Compricer, LensOn, Mathem and RoyalDesign. More information can be found at www.verdane.com
About Aggregate Media funds
Aggregate Media began in 2002 and has invested with media as expansion capital for over 150 companies through funds I – VII. Investors in the funds are for the most part Swedish along with a handful of large, foreign media companies. More information can be found at www.aggregatemedia.com