UK - Octopus Ventures backs £5m GetOptics buyout

Octopus contributed £1.35m to the deal, in exchange for a significant minority stake in the business. Funds were provided by the Octopus Titan 1,2, and 3 VCTs, Eureka EIS and the Octopus Investor Group. Nearly 45% of the total consideration for the acquistions will be deferred in place of bank debt.

The combination of the two companies creates the UK's largest online contact lens and eye care product business. The newco has over 100,000 existing customers, pro forma sales of £6m and an online contact lens contract with one of the UK's largest retailers.

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• Buyouts
• UK / Ireland