Priveq acquires majority stake in Trendhim

Eliza Punshi
10 August 2020

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Swedish growth investor Priveq has acquired a majority stake in Danish e-commerce company Trendhim.

The company's current owners, Sebastian Petersen, Mikkel Andersen and Martin Hojberg Christiansen, will continue in their operational roles and will retain a significant minority stake.

The deal is Priveq's first Danish deal and its final platform investment from its SEK 2.3bn vehicle Priveq Investment V, which is now 85% deployed.

The deal will help Trendhim further strengthen its position and continue its global expansion.

Priveq focuses on Nordic companies with turnovers of SEK 100m-1bn. It typically deploys equity tickets of €10-30m and pursues both organic growth and add-ons to grow companies.

According to the GP, Trendhim has increased its revenues from DKK 12m to DKK 115m (€15.4m) in four years and distributes its products through its own platform in 28 countries.

Company
Founded in 2007 and headquartered in Horsens, Trendhim is a designer and online retailer of men's accessories. The e-commerce company distributes its products in 28 countries and in 2019 generated revenues of SKK 115m. It has 50 employees.

People
Priveq – Johanna Svensson (partner)
Trendhim – Sebastian Petersen (CEO); Mikkel Andersen (creative director); Martin Hojberg (chief technology officer).

Advisers
Company – Clearwater (M&A); Bech Bruun (legal).
Equity – KPMG (financial due diligence); Omegapoint (IT due diligence); Saalt&Co (commercial due diligence); Ethos (ESG due diligence); Bird & Bird (legal).