CapMan acquires Verdane's MM Sports

The deal is the third investment from CapMan Buyout XI, and follows its investment in Finnish food supplement maker Pharmia in March 2021, and in Swedish software company PDS Vision in March 2020. The vehicle held a final close in February this year on almost €250m. 

Mergermarket reported in March this year that Verdane – the majority owner since 2014 – had mandated Clearwater International to assess its options to exit the Swedish retailer. 

The publication also reported that the company in 2020 reported a turnover of SEK 230m with a normalised EBITDA of around 8%, and this year expected revenues of SEK 275m (€27m) and a 10% EBITDA margin in 2021. 

CapMan said in a statement that it will support the company's growth and international expansion.

The transaction is expected to close within a few weeks. 

Company
MM Sports was founded in 2002 and is a retailer of sports nutrition and health supplements in Sweden. The company's product offering also includes gym equipment and accessories.

The company has a portfolio of own brands and products developed in-house, as well external brands. It sells its products via its website and also operates nine physical stores in Sweden. The company reportedly had revenues of €22.6m and an 8% EBITDA margin in 2020. 

People 
CapMan Buyout – Tobias Karte (partner). 
Verdane – Christian Jebsen (partner). 
MM Sports – Erik Sjöberg (CEO). 

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