LensOnline, the largest online provider of contact lenses in the Benelux, and investment company Quadrum Capital are joining forces to support LensOnline’s further growth on the European market and to invest in a wider range of total solutions around eye care.
LensOnline experienced strong growth in Belgium and the Netherlands in recent years, but sees further opportunities. Bert Boon, CEO and founder of LensOnline: “The demand from the market is more towards offering a total approach. The hybrid model in which we engage the expertise of independent opticians partly meets that demand, but the longer-term challenges and opportunities are greater.”
SDM Corporate Finance Group assisted Lensonline in finding the most suitable partner to further support and build the hybrid model. In Quadrum Capital, they found the perfect partner for this purpose. Hedzer Wester, Investment Manager at Quadrum: “The e-commerce experience within LensOnline and its broad network of partner opticians, are complementary to our current investments. By combining a network of eye experts with a wide partner network, we reach consumers who often struggle to find that total solution for their eye problems.”
In the short term, LensOnline will focus primarily on geographic growth with further growth in the Netherlands and the full rollout of the concept in Italy at the top of the agenda. In addition, opportunities for (further) entry into the French, Spanish and German markets will also be explored.
Boon: “With Quadrum Capital we have a partner who on the one hand believes in our plans to offer more complementary services around eye care, but on the other hand is also willing to take those plans to a European level. Quadrum Capital’s know-how and network are invaluable in that respect.”
With Bert Boon as founder and CEO, current management anchors itself in the shareholder structure and day-to-day succession is assured. “In order to achieve growth and move faster in the future, it is important for LensOnline to have the management together again,” Boon continued.
SDM Corporate Finance Group assisted LensOnline’s shareholders and management in this transaction.
Profile LensOnline:
– Active in Belgium, the Netherlands, Italy, France, Spain and Germany
– Turnover: 25 million euros – International network of more than 220 partner opticians
