Verdane VIII to help MM Sports muscle up
Stockholm — Verdane Capital VIII K/S (Verdane VIII) enters MM Sports as a new owner. MM Sports is one of the largest Nordic players in nutrition supplements and training gear, with a significant online presence and six stores in Sweden. Verdane VIII will help MM Sports break into new territory in the Nordics.
MM Sports is Verdane funds’ 25th e-commerce investment. Based on learnings from all these companies, Verdane Capital Advisors can quickly go in with a long list of improvement points to further strengthen MM Sports.
”When I met Verdane Capital Advisors I immediately saw that they can help us. The team members are walking encyclopedias on how to succeed with e-tail business development and I am therefore very pleased to welcome Verdane VIII as a new partner in the company”, says Olle Sparringsjö, founder and CEO of MM Sports.
With Verdane VIII as a new owner, MM sports will work to expand internationally. Verdane Capital Advisors, with offices in Stockholm, Oslo and Helsinki, has helped a large number of companies grow from a Swedish base into the other Nordic countries.
”MM Sports is a well-run company that stands for high quality and great customer service. We believe there is a big potential in nutrition supplements and that it keeps growing as more and more people try to lead a healthy lifestyle” says Staffan Mörndal, Partner at Verdane Capital Advisors. “We look forward accelerating the growth pace even further at MM Sports and we have already started working on a number of initiatives with MM Sports Management.”
Verdane funds have over the past ten years invested in over 20 e-commerce companies in the Nordics, including Bythjul, Boozt, LensOn, Mathem, RoyalDesign and WhiteAway.
MM Sports was founded by Olle Sparringsjö in 2002. The company has under his management grown its annual turnover to over Skr 200m, without any external capital.
About Verdane funds and Verdane Capital Advisors
Verdane Capital Advisors is the Nordic market’s largest and most successful independent manager of secondary direct funds. Verdane funds have €700m in committed capital and are focused on buying Nordic portfolios of direct investments in attractive sectors such as energy, ICT and general industries. The funds will also consider individual investments in selected growth-stage companies.
Since 2003, the funds advised by Verdane Capital Advisors have acquired 22 portfolios with stakes in over 250 companies. Verdane has invested in companies such as Mathem, BytHjul, Resman and Wireless Maingate. Former holdings include Coding Technologies, Chipcon, DIBS, Nacre, Reslink, Reslab and Tradedoubler. For more information, please visit www.verdanecapital.com
About MM Sports
MM Sports is one of the largest players in the Nordics in nutrition supplements and the company has developed strongly since it was founded in 2002. Its broad product range includes clothing and high quality supplements. MM Sports focuses on competitive prices, high quality, service and speedy deliveries. Please refer to www.mmsports.se for more information.
Staffan Morndal, Partner
Verdane Capital Advisors
+46 709 315 235