NPM invests in Suitsupply’s growth

NPM Capital

Private equity firm NPM Capital has reached an agreement with Suitsupply regarding an investment in the company which will further accelerate the international expansion and online sales activities. Suitsupply currently operates 91 stores in 73 cities on 3 continents. More than 75% of sales are generated outside of the Netherlands, and almost 30% of sales occur online.

Suitsupply was founded in 1999 by Fokke de Jong, who still serves as CEO. De Jong started Suitsupply as a web-only store, and became an early adaptor to the omnichannel strategy when he opened a physical store in 2000. The company managed to score headline reviews with its groundbreaking concept of selling high quality semi-tailored suits at prices previously unheard of. The Wall Street Journal declared the quality to be similar to competitors which were selling at prices up to 6 times higher. In 17 years, the company has become a widely recognized brand in Europe, the US, and Asia. Suitsupply is active in the whole value chain; from design, sourcing, production, distribution to end-user sales, through a network of both physical stores and a webstore.

With the growth capital supplied by NPM Capital, Suitsupply will accelerate its growth even further. The company’s growth plan aims to open more stores worldwide, and renew a large part of the Dutch store portfolio. Suitsupply will expand its leading position in online sales through further investments in technology, aiming to strengthen the symbiotic relationship between sales in physical and online stores. Additionally, Suitsupply will invest in the recently launched women’s line, Suistudio. Suistudio has had a very promising start, and already has stores in Amsterdam, New York and Shanghai, in addition to a webstore.

NPM Capital sees Suitsupply as a promising company, which can grow even faster than it has been growing. Bart Coopmans, managing director at NPM Capital: “Suitsupply is one of the diamonds of Dutch entrepreneurship. Through its unique business model and disruptive approach, the company has realized an incredible expansion in recent years. The model has been proven in various geographies and is very scalable. Through its strong position in the value chain, the well-developed omnichannel sales proposition, and focus on the US and Asia, we see significant potential for further growth. We believe that our profile fits well with a company such as Suitsupply, and we are excited to provide Suitsupply with the growth capital it needs to realize its full potential”.

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AURELIUS subsidiary Office Depot Europe is investing 20 million euros in E-commerce expansion

Aurelius

Munich/Venlo, November 2017 – Expansion of its E-commerce offerings is a core strategic direction for the realignment of Office Depot Europe, a group company of AURELIUS Equity Opportunities (ISIN DE000A0JK2A8). To this end, the company is investing 20 million euros in updating and expanding its internet presence based on the SAP Hybris E-commerce module until the end of 2018. The investment centers on improved customer flow on the websites, new functionalities, responsive design for automatic adaptation to different devices, and scalability across the individual Office Depot companies. In addition to web technology, the company is also investing in expanding its linkages to retail partners and extending the functions of its order management and tracking. Customer satisfaction and conversions are moving in a promising direction, and should be improved further on.

E-commerce and self-service are more and more important for B2B customers, as is the online marketplace. With this major investment, Office Depot is addressing this development. In addition to the company’s proven product and service offerings, Office Depot is opening up new revenue potential with simple, fast, intuitive and service-oriented processing on its new websites. Through this move, Office Depot is bringing its internet activities into the center of its customer communication. The strategy is flanked by investments in further points of contact to customers (voice, print and key accounts).

The introduction of the new technology in the first test markets Germany, Austria, Ireland and the Netherlands has already shown positive results, as revenues from online sales and customer satisfaction have risen significantly. The rollout in other national companies and the ongoing further development of the technology will reinforce this positive trend in 2018 and have a major impact on the overall growth of Office Depot Europe.

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Musti ja Mirri acquires VetZoo – expands online platform

eqt

Pet specialty retailer Musti ja Mirri today announces the acquisition of VetZoo, Sweden’s leading online retailer of pet supplies. The add-on accelerates Musti ja Mirri’s multi-channel strategy and manifests its position as the leading pet specialty retailer in the Nordics.

EQT Mid Market acquired Musti ja Mirri in December 2014 with a mission to support its Nordic expansion and multi-channel platform development. Since then, Musti ja Mirri has had a strong organic growth into Norway, and into Sweden through the franchise acquisition of the pet stores Arken Zoo and Djurmagazinet, Trimmis grooming salons and the veterinary chain Vettris.

Today, Musti ja Mirri operates a network of 250 pet specialty stores in Finland, Sweden and Norway – offering a wide range of pet supplies, accessories, foods and adjacent pet related services.

VetZoo, founded in 2010, is a leading pure-play online retail platform for pet supplies with operations in Sweden and Norway with sales exceeding EUR 13 million and an annual growth rate close to 100%. The acquisition of VetZoo will further strengthen Musti ja Mirri’s online offering and is yet another step in EQT Mid Market’s strategy in creating the leading pan-Nordic pet specialty retail group across channels.

“We have known VetZoo for years and are impressed by what the founder Lars Martin and the team have developed in a relatively short time frame. The company will complement Musti ja Mirri’s existing business and is a great addition to the company’s focused multi-channel strategy. As a result of the acquisition, Musti ja Mirri’s total sales within e-commerce will double, from 7% to 14%, with the ambition to reach 20% in a few years”, says Johan Dettel, Partner and Investment Advisor to EQT Mid Market.

David Rönnberg, CEO at Musti ja Mirri comments: “With VetZoo, we will scale up our e-commerce offering which will be a natural complement to the 250 physical stores. Our clients want a full-service, single provider to accommodate the needs of their pets and with VetZoo, we will be able to respond to this demand. And not the least, the add-on strengthens Musti ja Mirri’s already leading position as the number one pet speciality retailer in the Nordics.”

VetZoo will continue to operate under its current brand. The management team will reinvest into the combined group, demonstrating their commitment to the strategic direction of VetZoo, now under Musti ja Mirri’s ownership.

”We are excited about joining forces with Musti ja Mirri and EQT and I look forward to continue the growth journey of VetZoo. We will now be in a broader context and work together in a very interesting market segment. VetZoo and Musti ja Mirri are a great match with our strong online development complemented with Musti ja Mirri’s extensive product knowledge and assortment”, says Lars Martin Norviit, founder and CEO of VetZoo.

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Kano Raises $28M in Series B, and Brings New Computer Kits to More Than 4,500 Retail Stores

Index Ventures

Today, DIY computer company Kano announced a mass North American rollout into more than 4,500 retail stores, stocking its creative computing kits in every Best Buy and Target, select Walmart stores, Microsoft Stores, Jet.com and The Source, as well as existing partners Amazon.com, Barnes & Noble, Indigo and Toys R Us. This expansion is fueled by $28M in new funding.

The Series B round was led by the Thames Trust and Breyer Capital, with Index Ventures, the Stanford Engineering Venture Fund, LocalGlobe, Marc Benioff, John Makinson, Collaborative Fund, Triple Point Capital, and Barclays participating.

At more than 1,000 stores, Kano’s full line of all-ages computer and coding kits – including the new Pixel Kit, Motion Sensor Kit, and Computer Kit Complete – will be presented on interactive displays, both on shelves and on end-cap fixtures, heading up the new STEM category.

Kano shipped the first “computer anyone can make” in September 2014, and is now expanding its retail presence more than four-fold. Its kits are deployed in more than 1000 education programs worldwide. Its community of beginner developers, in 86 countries, many as young as six, have shared over 150,000 apps in the last year alone. These beginners spend 13.5 hours, close to Snapchat, on the company’s Computer Kits during the first 30 days. Kano describes itself as a new kind of computer company, focused on creation, not just consumption.

“Kano has grown into a category leader, with hardware and software that prepares all ages for the future,” said Jim Breyer, Founder and CEO of Breyer Capital. “The financing, expansion into mass retail, and new products will expose the unique Kano experience to millions more.”

“The opportunity for Kano and other creative, educational platforms like Codecademy and Roblox is growing,” said Danny Rimer, General Partner at Index Ventures.

“We believe that the time has come for a new kind of computing, premised on people’s need to understand and shape the world around them – not just swipe, tap, and wait for the latest similar-looking screen,” said Alex Klein, Kano’s Co-founder and CEO. “The next generation is rising and ready to make their own technology.”

Kano is already collaborating with the Best Buy Foundation, bringing Computing Kits and workshops to schools and academies across North America as well as supporting the US Department of Housing and Urban Development’s ConnectHome initiative, where it provides kits and digital literacy training to underserved communities. The company will also be participating in the Barnes & Noble Mini Maker Faire on November 11th and 12th. All ages will be able to make their first computer and test the range of Kano kits at hundreds of participating stores.

Kano kits combine device building (computers, sensors, light boards) and creative coding with a free online community, available to makers across the globe. The product lineup ranges from the free Kano App and the $29.99 Motion Sensor Kits, to the $249.99 Computer Kit Complete, a build-your-own laptop. Kano is the only end-to-end system in the ed-tech category, and demystifies computing for all ages through simple steps, physical building, and play.

The Computer Kit, starting at $149.99, is the original build-your-own-computer. It comes with all the bits and books you need to make a powerful PC, and a suite of onboard software challenges, that let you explore the terminal, Hack Minecraft, make music, and build apps, leveling up as you go.

The $29.99 Motion Sensor Kit opens up infrared technology and lets you learn to code apps, music, and games, controlled with hand gestures. The $79.99 Pixel Kit is a DIY light board that lets you draw & code animations, interactive apps and art. You can try Kano Code, the most playful learn-to-code platform, here, and explore community creations here.

“The Source is very excited to be featuring Kano products as part of its gifting line up this holiday season. Not only are they fun but also introduce new skills and learning opportunities,” said Ron Craig, Vice President, Marketing and Operations at The Source.

“Best Buy Canada is excited to partner with Kano in bringing their computer building kits for youth to our stores,” said Zayn Jaffer, Best Buy Canada’s Vice President of Emerging Business. “These products will help youth learn about the physical and software components of computers, while providing invaluable educational skills in coding and programming. These skills are important for future generations to learn early on.”

For videos, please check the Kano YouTube Channel. For other press materials, please click here.

About Kano

Inspired by a challenge from a 6-year-old, Kano creates computer and coding kits for all ages, all over the world. Its mission is to make technology as simple and fun to create as it is to consume. Kano launched the first computer anyone can make on Kickstarter in 2013 – it raised $1.5M, the largest ever ed-tech crowdfunding on the platform, with the backing of thousands of young people, artists, makers and teachers worldwide. It became the UK’s fastest growing tech startup in 2016 and Fast Company’s ninth most innovative company in consumer electronics in 2017.

Unlike other “kid tech” toys, Kano kits let beginners build real devices, and offer a range of learn-to-code environments. It takes makers from block based to real text coding, including Python, JavaScript and Unix commands, and into collaborative coding on the Kano World community platform. Over 200,000 applications and over 33 Million lines of code have been uploaded so far by creators of all ages.

The original build-and-code-your-own computer remains a crowd favorite, with 85% 5 star reviews on Amazon.com and a Net Promoter Score of 55. Kano also works with local communities to bring digital literacy to underserved areas in Africa, Asia, and North America.

The company has been boosted by the involvement and endorsements of customer Steve Wozniak, Pong inventor Al Alcorn, supermodel Karlie Kloss, athlete Novak Djokovic, artist Nile Rodgers, and British Prime Minister Theresa May. Its most recent product is the Computer Kit Complete, a powerful, educational build-your-own laptop for $249.

The London company was co-founded by Saul Klein, Yonatan Raz-Fridman and Alex Klein.

Kano is the recipient of the first ever Cannes Lion for Product Design, Gold; the Red Dot Product Design Award; the Edison Award in Gaming/Computing, Gold; the German Design Award, Gold; the International Design Society of America, Silver; the Webby Award and People’s Voice Award; The International Design Excellence Award, Silver; and D&AD (In Book Award).

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Project A invests in 3i portfolio company Lampenwelt

Project A

Berlin-based operational VC Project A teams up with private equity group 3i and invests in Europe’s leading online retailer of lighting fixtures

Berlin, 26 October 2017 – Berlin-based operational VC Project A today announces its agreement with London-based private equity group 3i to invest in Lampenwelt, Europe’s leading online retailer for lighting fixtures.

“With a very strong founder-led management team, significant profitable growth, and ample opportunities to further scale, Lampenwelt has the key ingredients we look for in private equity co-investment opportunities”, says Ben Fischer, Partner at Project A. “Our operational capabilities in scaling and improving digital businesses will help the company to reach its full potential and further strengthen its leading position in Europe.”

With the investment, Project A will contribute its operational capabilities and teams in areas such as digital marketing, business intelligence, product management, and IT.

“Project A’s operational capabilities make it a perfect fit for us, and we look forward to working closely with their team of experts to make our ambitious vision for Lampenwelt a reality,” says Thomas Rebmann, founder and CEO of Lampenwelt.

Lampenwelt started by selling lighting fixtures on eBay and quickly grew to become the European market leader. Today, the company has 300 employees and is present in all core European markets.

For Project A, Lampenwelt is the third private equity co-investment. In March 2016, the operational VC announced their investment in Kfzteile24, Germany’s market leader for car parts and accessories, joining global private equity group EQT. In November 2016, Project A announced the second private equity co-investment. Together with Bregal Unternehmerkapital, Project A invested in Onlineprinters, one of Europe’s leading online printing companies.

About Lampenwelt

Headquartered in Schlitz, Germany, Lampenwelt is Europe’s leading online-specialist for lamps and lights, with over 1.5 million customers. Founded in 2004, Lampenwelt employs around 300 staff and offers some 50,000 products to suit all styles and purposes. The goal of the e-Commerce pioneer is to offer every client their dream lighting solution. As well as quality own-brand products, Lampenwelt offers a wide range of lamps and lighting from top brands such as FLOS, Serienlighting, Luceplan, Tecnolumen or Swarovski. Online shops in 14 European countries form the basis of Lampenwelt’s success, underlined by over 100,000 positive customer evaluations on independent evaluation portals. Lampenwelt’s German store is available at www.lampenwelt.de.

About 3i Group

3i is an investment company with two complementary businesses, Private Equity and Infrastructure, specialising in core investment markets in Northern Europe and North America. 3i’s Private Equity team provides investment solutions for growing companies, backing entrepreneurs and management teams of mid-market companies with an EV typically between €100m – €500m. We back international growth plans, providing access to our network and expertise to accelerate the growth of companies across the consumer, industrials and business and technology services industries. For further information, please visit: www.3i.com.

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Norvestor divests Life Europe AB

Norvestor

Norvestor IV, L.P. (“Norvestor”) has signed an agreement to divest Life Europe AB (“Life” or “the Company”),a leading specialist retailer of health and wellness products in Sweden, Norway and Finland, to Fairford Group.

Norvestor invested in Life in 2005. During Norvestor’s ownership, the company has become the clear market leader as a specialist health and wellness retailer in the Nordic region and one of the largest specialist retailers within its’ space in the world. Life currently has over 380 stores including own stores and franchise stores. The Company has above 600 employees and revenues of around SEK 1.2 billion in Sweden, Norway and Finland.

“For the Norvestor team, it has been an interesting journey building Life to the clear market leader in the Nordics together with all the competent people in the Company. We are happy to see Fairford coming on board to support further development for Life and expand their strong market position”, says Lars Grinde, Managing Partner in Norvestor.

“With Norvestor as the main shareholder, Life has over the last years built not only the biggest health and wellness retail chain in the Nordic region but also the two biggest health and wellness product distributers. With this distribution power we look forward to meeting new opportunities together with Fairford”, says Erik Frydenberg, CEO in Life. Norvestor was advised by Advokatfirman Lindahl.

The transaction is expected to close in Q4 2017, subject to customary closing conditions, including approval from competition authorities. The parties have agreed not to disclose the terms of the transaction.

For further information:

Lars Grinde, Managing Partner in Norvestor Equity AS

Telephone: +47402 11 444

Email: lars.grinde@norvestor.com

Erik Frydenberg, CEO in Life

Telephone: +47 922 29 955

Email: erik.fryd enberg@lifeeurope.com

 

Life Europe AB is the leading specialist retail of health and wellness products in Sweden, Norway and Finland.

Read more at www.lifebutiken.se

Norvestor Equity AS is a leading private equity company focusing on lower mid -market buyouts in the Nordic region. The team has worked together since 1991 making it one of the most experienced private equity teams in Norway, having executed 66 investments with 260 follow – on M&A transactions, in addition to executing 43 exits including 14 IPOs.

Norvestor focuses on investment opportunities in growth companies, making platform investments principally in Norway and Sweden, with potential to achieve a leading Nordic or international position either through organic growth, through acquisitions or by expanding into new countries. Funds advised by Norvestor are currently invested in the following portfolio companies; Johnson Metall, Sentech (formerly Advantec Sensing), Apsis, Aptilo, Cegal, Marine Aluminium, Crayon, Robust, iSurvey, Future Production, Nomor, PG Flow Solutions, Roadworks, Permascand, 4Service, HydraWell, Eneas, Presserv, Nordic Camping & Resort, READ Cased Hole, IT Gården, NetNordic and Wexus.

Read more at www.norvestor.com

 

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Altor enters partnership with the founders of RevolutionRace

Altor

On October 18th, Altor Fund IV (“Altor”) has signed an agreement to acquire a significant minority ownership in the fast growing Swedish consumer brand, RevolutionRace, from the founders Pernilla and Niclas Nyrensten. The founders will remain as majority owners of the company and continue in their operational roles as CEO and Head of Product.

RevolutionRace sells outdoor apparel products through a direct to consumer model, with an innovative design, high quality & functionality at an affordable price point. The company was founded in 2013 and has grown at an impressive speed to a turnover of approximately SEK 120m for the fiscal year that ended in June 2017.

“When we started searching for a partner, we wanted someone that could complement us and contribute with relevant experience” says Pernilla and Niclas Nyrensten, founders of RevolutionRace. “Altor had two key attributes that appealed to us; they have relevant knowledge of the outdoor industry from Helly Hansen and Rossignol and they have put together a dream team that we believe will support us reaching our goal of making RevolutionRace the leading brand in the outdoor industry. We are super excited to make this journey together with Altor.”

“We are highly impressed with the growth, successful digital strategy and direct-to-consumer business model of the company. The outdoor apparel market is attractive and RevolutionRace is targeting an underserved segment through the affordable high quality product offering”, says Johan Blomquist, partner at Altor. “Furthermore, we actively look for partnerships with outstanding founders, which is something we have found in Pernilla and Niclas.”

The transaction is subject to customary regulatory requirements and approvals.

For more information, please contact:
Niclas Nyrensten, Co-founder of RevolutionRace, Tel: +46 10 155 63 30
Johan Blomquist, Partner at Altor, Tel: +46 8 678 91 00

About Altor
Since inception, the family of Altor funds has raised some EUR 5.8 billion in total commitments. The funds have invested in excess of EUR 3.8 billion in more than 40 companies. The investments have been made in medium sized Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Helly Hansen, Carnegie Investment Bank, Dustin, Rossignol and SATS ELIXIA. For more information visit www.altor.com

 

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Verdane IX invests in Safira to boost international expansion

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Verdane

Fashionable Development Europe AB, online retailer of jewellery and accessories under the brand name Safira, today announced Nordic private equity fund Verdane Capital IX as a new investor. Together, they will build a fast fashion jewellery brand with international ambitions.

The Swedish online retailer of jewellery and accessories, Safira offers a variety of fashion and traditional jewellery products, including gold and silver rings, necklaces, bracelets and watches. The company has received a lot of attention for its partnership with Swedish fashionista Molly Rustas, and their joint collection Safira by Molly Rustas.

“People live much of their life online. Couples meet online, and then of course, the wedding ring is bought online. Safira and the products become part of people’s special occasions and everyday life as the online home of fashion accessories,” says Jeff Petterson, CEO in Safira.

So far, Safira has primarily focused on the Swedish consumer market, through Safira.se and its newly opened flagship store in Gothenburg. Following the investment by Verdane Capital IX, the company now targets expansion across the Nordics and beyond.

“Verdane has extensive experience building e-commerce successes in a broad range of industries, leveraging its leading online expertise and know-how. We look forward to working together with Verdane on taking Safira to the next level internationally, and offer fashion accessories online to many more markets,” says Pettersson.

In contrast to the fashion apparel industry, which has seen an influx of major e-commerce platforms in recent years, the movement towards bringing the jewellery industry online has been lagging. According to Staffan Mörndal in Verdane, this is about to change.

“Clearly, the jewellery market is a highly attractive space, and we expect strong growth in online penetration. We believe Safira is well positioned to take part in the offline to online transformation of the industry, and become a market leader within fashion accessories and gold and silver jewellery online,” he says.

For further information, please contact:

Staffan Mörndal, staffan.morndal@verdanecapital.com or +46 70 93 15 235

Jeff Pettersson, jeff@safira.se or +46 73 39 81 105

About Safira

Founded in 2012, Safira is a Swedish-based online retailer and maker of jewellery and accessories, offering a mix of its own and external brands of a variety of products, including gold and silver rings, necklaces, bracelets and watches.

About Verdane

Verdane funds provide flexible growth capital to fast growing software, consumer internet, energy or high-technology industry businesses. The funds are distinctive in that they can invest either in a single company, or in portfolios of companies. Verdane funds have €900m under management and have invested in over 300 holdings over the past 14 years. Verdane Capital Advisors has 25 employees working out of offices in Oslo, Stockholm, and Helsinki. More information can be found at: www.verdanecapital.com

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Helsport and Swix: Stronger together

Helsport and Swix: Stronger together

Swix Sport has acquired the entire share capital of the well-known company Helsport. The acquisition makes the Ferd-owned brand aggregator almost a complete supplier in the outdoor segment of the sports industry, which is to say a supplier of products for anyone who loves the great outdoors.

Helsport is one of the world’s leading manufacturers of lightweight sleeping bags and tents. Now the company will join Swix, Ulvang, Lundhags, Hard Rocx and Toko as part of Swix Sport.

“In the outdoor segment, we already offer a wide range of equipment, footwear and clothing from Lundhags and Ulvang. We can now supplement this offer with tents, lavvus, sleeping bags, backpacks and mountain trekking equipment for the full range of users, whether they need equipment for extreme conditions or favour comfort and user-friendliness”, explains Tomas Holmestad, CEO of Swix Sport, in an interview with Ferd Magazine.

A good owner
Stein Helliksen, the owner and CEO of Helsport since 1974, emphasises that he regards Swix Sport as a good and reliable owner with regard to the company’s further development now that he is selling. He will continue, however, to serve as the CEO of Helsport, and there are no plans to move its head office from Melhus just south of Trondheim, which is where 16 of the company’s employees will remain. The company also has a marketing office in Oslo with a further two employees, who will now be moving to Swix premises.

Record profit
Stein Helliksen has decided to sell the company following a period of strong growth. With record turnover of NOK 120 million and its best ever profit, 2016 was the company’s best year ever. 2017 is shaping up to be even better in every way.

“Helsport has never been better positioned than it is today – and I see this as a good starting point for becoming part of a larger constellation in an industry that is facing both restructuring and challenges, but that also offers great opportunities”, he comments.

Stein emphasises that there is a clear trend towards bigger units and stiffer competition, and innovation is becoming increasingly important, while the industry will also have to meet new and stricter requirements in terms of environmental sustainability, fair trade and willingness to engage with corporate social responsibility. Like Tomas Holmestad, Stein Helliksen thinks there is the potential for significant synergies now that Helsport and Swix Sport are combining forces, with particularly sizeable opportunities in exports:

“We have a range of products that have features that make them the best in the world. With Swix Sports’ resources, international subsidiaries and distribution facilities, both parties will be able to reap significant benefits”, he explains.

The whole interview is available in the Ferd Magazine in Norwegian).Photo: Helsport

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Nordic Capital has sold its remaining shares in Tokmanni, the largest general discount retail chain in Finland

Nordic Capital has sold its remaining shares in Tokmanni, the largest general discount retail chain in Finland

September 13 2017
Nordic Capital has sold its remaining shares in Tokmanni, the largest general discount retail chain in Finland ImageNordic Capital Fund VII (“Nordic Capital”) has sold all of its remaining shares in Tokmanni Group Corporation (“Tokmanni”). Under Nordic Capital’s ownership, Tokmanni has grown substantially, reinforcing its leadership position in the attractive Finnish general discount retail market.

The remaining shareholding of 15.21 percent was sold on September 12, 2017, and the book-building generated large investor interest with the book multiple times oversubscribed.

“Tokmanni has accelerated its development under Nordic Capital’s ownership. The Company now has a strong track record of growth and profitability, and is flourishing despite a challenging Finnish economy and retail market. Tokmanni has continued the rollout of new stores, invested heavily in its capabilities and procurement whilst maintaining attractive market pricing. Tokmanni is now a strong, profitable, publicly listed company with a robust foundation for future growth,” says Robert Furuhjelm, Partner, NC Advisory Oy, advisor to the Nordic Capital Funds.

During Nordic Capital’s ownership, Tokmanni’s revenues increased from EUR 650 mn (2011) to EUR 776 mn (2016). In the same period, the number of employees grew from 2,900 to 3,200 and Tokmanni opened 18 new stores.

“Since the acquisition in 2012, it has been inspiring to observe the strong customer appeal of the stores, driven by the outstanding execution of the team and manifested by the Company’s faster-than-market growth. The investment in Tokmanni illustrates how Nordic Capital, through its extensive retail experience, selective investment focus, and attention to operational improvements, effectively supports the development of market leaders, even in less than favourable market conditions. We would like to thank the management team and all employees of Tokmanni for all their hard work and collaboration”, continues Robert Furuhjelm.

After tracking the business for several years, Nordic Capital acquired Tokmanni in 2012 under exclusivity. The transaction was enabled by Nordic Capital’s local Finnish presence, knowledge and experience from previous Consumer & Retail investments. A well-prepared rigorous value creation plan was put in place including operational improvements and investment in direct sourcing supported by a Shanghai office which opened in June 2013. There was also significant investment in the store concept and strengthening of the Tokmanni brand, including repositioning from a mixed brand business to a segment-leading retail asset that could support a successful public listing and strong post IPO performance.

In April 2016, Tokmanni was successfully listed on Nasdaq Helsinki at an equity value of approximately EUR 394 million. The successful listing and strong subsequent share price performance reflect the strength of Tokmanni’s business and the significant improvements implemented under Nordic Capital’s ownership.

The Tokmanni shareholding divestment follows a period where Nordic Capital Funds have maintained a high level of transaction activity with twelve successful exits and seven new platform investments since the beginning of 2016. Nordic Capital Funds have a strong record of preparing companies for the public markets.  In addition to Tokmanni, the Funds have listed six portfolio businesses since June 2015. These include ConvaTec Group on the London Stock Exchange, the UK’s biggest IPO of 2016 and the largest European healthcare IPO in more than 20 years. In addition, Nordic Capital Funds have successfully listed air treatment specialist Munters, provider of traffic safety products and services Saferoad, pan European healthcare provider Capio, mixed discount retailer Europris and consumer financing business Resurs, all of which were floated on the Nordic stock markets.

Press contact:

Katarina Janerud, Communications Manager,
NC Advisory AB, advisor to the Nordic Capital Funds
tel: +46 8 440 50 69
e-mail: katarina.janerud@nordiccapital.com

 

About Nordic Capital

Nordic Capital is a leading private equity investor in the Nordic region with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a proven track record. Core sectors are Healthcare, Technology & Payments, Financial Services, Industrial Goods & Services and Consumer & Retail, and key regions are the Nordics, Northern Europe, and globally for Healthcare. Since inception in 1989, Nordic Capital has invested EUR 11 billion through eight funds. The Nordic Capital Funds are based in Jersey and are advised by six advisory companies, which are based in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital please see www.nordiccapital.com

 

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