LensOn sold to Glasses Direct

From Swedish to true Nordic, and from local to leading player in less than 6 years

Founded in 2004 in Stockholm, LensOn is a leading online retailer of contact lenses.

The Company is owned by pan-Nordic private equity investment firm Verdane Capital since 2006, when LensOn focused exclusively on the Swedish market.

Since then, the company has expanded into Denmark, Finland and Norway, as well as the Netherlands, Germany, France and the UK, with about 50% of revenues in 2012 stemming from other countries.

In 2011, LensOn was designated a Gazelle company by Swedish business newspaper Dagens Industri, and selected e-commerce company of the year by the users of price comparison website Pricerunner.

Verdane returns 6x investment on LensOn exit to a major European player

Prescription Eyewear acquired the company in December 2012.

Doing business as MyOptique.com, SunglassesShop.com and GlassesDirect.com, Prescription Eyewear is a UK-based online retailer of optical products and a portfolio company of Index Ventures, Highland Capital Partners and Acton Partners.

The transaction enables Prescription Eyewear to expand its business in European markets, and enhance the quality of the offerings to customers of both companies.

The combined group generated nearly GBP 30m of revenue in 2012 and is now going after a EUR 3bn opportunity in the European online market over the next 3-5 years.

GCA Altium acted as sole advisor to the sellers.

Related Transactions

GCA is a trade name for GCA Corporation and its subsidiaries and other affiliates which include:

• GCA Advisors, LLC, a Delaware limited liability company, registered broker-dealer and FINRA (www.finra.org) and SIPC member firm (www.sipc.org). GCA Advisors, LLC provides independent financial advice on matters related to Mergers & Acquisitions, Debt Capital Markets, Recapitalization & Restructuring, Cross Border and Strategic Alliances, Special Committees, Private Funds, Private Placements and Venture Support. Check the background of GCA Advisors, LLC on FINRA’s BrokerCheck (brokercheck.finra.org).
• GCA Altium Limited, a company providing financial advisory services in the UK, Switzerland, Germany, Italy and Israel and incorporated under English law, is authorized and regulated by the Financial Conduct Authority in the United Kingdom and provides independent financial advice on matters related to Mergers & Acquisitions, Debt Capital Markets, IPOs, Recapitalization & Restructuring, Cross Border and Private Placements.
• GCA Corporation, a company incorporated in Japan which provides financial advisory services on matters related to Mergers & Acquisitions, Cross Border, Private Placements & IPOs, Growth Strategy Services, and Post-Merger Integration.
• GCA China Company, Limited, a company incorporated in Shanghai which provides financial advisory services in China on matters related to Mergers & Acquisitions, Cross Border, Mezzanine Financing, Growth Strategy Services, Due Diligence and Post-Merger Integration.
• GCA India Company, Limited, a company incorporated in Mumbai which provides financial advisory services in India on matters related to Mergers & Acquisitions, Cross Border, Mezzanine Financing, Growth Strategy Services, Due Diligence and Post-Merger Integration.
• AMPLIA, a subsidiary of GCA Corporation in Japan, provides Venture Support services in Japan and the US.
• GCA FAS, a subsidiary of GCA Corporation in Japan, provides Due Diligence advisory services and M&A transaction services.
• MCo Corporation, a subsidiary of GCA Corporation in Japan, provides Mezzanine Financing in Japan.