Verdane has sold half of its majority investment in Desenio, a global wall art online retailer, through a private placement followed by a listing of the company’s shares on the NASDAQ First North Growth Market, valuing the company at SEK11 billion.
Verdane is a growth equity investment firm and one of Europe’s most active specialist e-commerce investors. The firm first partnered with Desenio in 2016 via Verdane Capital IX, a SEK3.1bn 2016-vintage fund, to support the Stockholm-based company’s expansion through a combination of organic and acquisitive growth.
During Verdane’s holding period, Desenio reached an organic net sales CAGR of 76 per cent between 2016 and 2020, increasing net sales from SEK100m at the time of Verdane’s investment to 2020 pro forma net sales of SEK1.3bn when including the acquisition of Poster Store, an international online retailer of design posters.
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