Mister Spex makes Swedish acquisitions

The acquisition was financed via a fresh capital injection from the company's existing backers.

DN Capital, XAnge Private Equity, High-Tech Gründerfonds and Grazia Equity backed the firm in 2009 with a €9m capital injection. 

The following year, Point Nine Capital and Astutia Ventures joined the firm's existing backers in a €7m series-B round for the company. 

In 2013, Scottish Equity Partners participated in a €16m round for the firm alongside DN Capital and XAnge.

The bolt-ons are designed to accelerate the company's international expansion strategy. 

The Mister Spex team was attracted to the Nordic market by the large share of the Swedish population that wear contact lenses, as well as the Scandinavian interest in online shopping. 

The combined companies expect to report a turnover of €48m in 2013. 

Company
Founded in 2005 and based in Stockholm, Lensstore is an e-commerce platform for the sale of contact lenses in the Nordic region. The company has sold more than 25 million contact lenses primarily in Sweden, Norway and Finland. 

Loveyewear is an e-commerce platform retailing premium eyewear in Sweden. The firm offers a range of prescription glasses and sunglasses from brands including Ray-Ban and Prada. The firm launched in 2012 and is based in Stockholm.

People
Dirk Graber is founder and CEO of Mister Spex.

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• Topics
• Nordics
• Consumer
• Portfolio management
• XAnge Private Equity
• DN Capital
• High-Tech Gründerfonds
• Scottish Equity Partners
• Acquisition finance