Just last week the firm announced a 4x return on its sale of TeamTec Invest, a producer of equipment for the shipping industry.
Verdane acquired the company in 2006 via its fifth fund, from Aggregate Media Funds. At the time, LensOn focused exclusively on the Swedish market. Since then, the company has grown from local Swedish to expand into Denmark, Finland and Norway. In 2006, all revenues were generated in Sweden whereas about 50 per cent of revenues in 2012 stem from other countries. During the same period, revenues have grown more than sixfold. During Verdane’s ownership, LensOn has grown its number of employees from a handful to 30.
“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.
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