7 september 2015

eEquity III reaches first close

eEquity, the leading growth investor in Nordic Internet companies completes the first closing of its latest fund, eEquity III, at EUR 60 million, supported by existing and new European Institutional investors

eEquity III will build upon the successfull investment strategy implemented in eEquity II, providing growth capital to proven, fast growing and profitable Nordic Internet companies active within the internet retail and services sectors.

eEquity works actively with its portfolio companies to support them in becoming Nordic market leaders by accelerating growth organically and via selective add-on acquisitions. The firm’s approach to value creation was most recently demonstrated by the exit of WhiteAway which generated returns in excess of 4.5 times invested capital without leverage. Value creation was achieved through launch across the Nordics, increased product assortment, private label and two add on acquisitions leading to an increase in revenues from DKK 150 million to more than one billion at exit after 3.5 years. IRR amounted to 76%.

The portfolio in eEquity II has experienced an average annual growth rate of 60% since date of investment until today. Royal Design (home decoration) has in three years gone from SEK 90 million to approx. 5 times sales under profitability by expansion to more markets, increased product assortment and favorable add on acquisitions of Cervera franchise stores and Rum 21. Footway (shoes) has in four years gone from SEK 3 million to approx. 280 million by building a strong consumer brand, increased product assortment and favorable add on acquisitions of Heppo, Brandos and RunForrest. Footway is also profitable.

Patrik Hedelin, Partner at eEquity, said: “We are very proud of reaching the first close of eEquity III with the support of both existing and new investors. Given our sector focus on online business models in general and internet retailing in particular it has proven very valuable for the entrepreneurs to access the comprehensive competence and expertise within eEquity and our group of companies. The closing of eEquity III provides us with a solid platform to further capitalize on our strong proprietary deal flow and enables us to continue deliver strong returns to our investors.”

Legal advisors to eEquity were O´Melveny & Myers LLP in London and Cederquist in Stockholm.

For additional information, please contact:

Patrik Hedelin
patrik@eequity.se
+46 70 545 2889

About eEquity

Established in 2010 with the support of international institutional investors, eEquity is today the leading private equity investor for proven entrepreneurs with established companies within the Nordic internet retailing segment. The firm´s portfolio currently includes companies such as Royal Design, Footway, Eleven, Caliroots and Outdoorexpert. eEquity was founded by Magnus Wiberg and Patrik Hedelin as a continuation of their work in the online distribution sectors since the early 1999.

1 september 2015

eEquity invests in Outdoorexperten and plan for Nordic expansion

eEquity, the leading investor in e-commerce and online companies in the Nordics, are investing in Outdoorexperten. The company, selling sport and outdoor products online, has shown strong growth and been profitable since inception.

Outdoorexperten is one of the leading online players in the sports and outdoor segment. As an example, the company has over 5 000 products for hiking only. The company was founded in 2005 by Pierre Breznik in Västerås and has successfully grown under profitability. Outdoorexperten currently operates omnichannel sales through the website and a physical store in Västerås, with brands such as Lundhags, Haglöfs, Klättermusen, Bergans, Woolpower and Garmin. The company’s vision is to maximize outdoor experiences and to be in the forefront in presenting and selling news within the segment.

The eEquity investment will support the company in the upcoming Nordic expansion. The focus will be on building a market leader within the segment in the Nordic countries, mainly through having the most relevant product range together with quick delivery and the best customer experience.

“We are very pleased that we have so many satisfied and repeat customers, the entire company has a strong focus on customer satisfaction and all employees work with it every day. We love nature and want to maximize the experience there. We see great benefits in getting eEquity as an owner, partly because they bring great expertise and partly through their previous experience from building leading omnichannel companies in the Nordic region. We must now take the next step in our development through broaden the product range further and expand geographically to become a leader in several markets within our niche” says Pierre Breznik, CEO and founder of Outdoorexperten.

“We see great potential in Outdoorexperten where we believe the company will become the market leader in its field in Scandinavia within a few years. The company has grown organically since inception and has always been profitable, which we see as clearly positive. We will support the company with our expertise and extensive experience in e-commerce and help lift it into a billion revenue company within a few years” says Felix Erhardt, partner at eEquity.

For more information, please contact:

Felix Erhardt
eEquity AB
Phone: +46 725 101 625
E-mail: felix.erhardt@eequity.se

Pierre Breznik
Outdoorexperten
Phone: +46 700 929167
E-mail: pierre@outdoorexperten.se

About eEquity
eEquity is currently the leading Swedish private  equity company for investments in e-commerce and online companies in the Nordic region in terms of both physical products and services. eEquity has invested in the online sector since 2010 and is currently the co-owner of eight companies in the Nordic region. eEquity invest primarily in entrepreneurial growth companies with the potential to become market leaders. eEquity manages capital for European institutional investors.

About Outdoorexperten
Outdoorexperten is one of the leading online players in the sports and outdoor segment. The company was founded in 2005 by Pierre Breznik and has its headquarters in Västerås. The company has during its 10 years grown organically to its current level of revenues of just under 80 million and has always been profitable. Outdoorexperten’s vision is to maximize outdoor experiences and be in the forefront in presenting and selling news within the segment.