Munich/Hamburg, 16 June 2010 - Acton Capital Partners is financing the future growth strategy of Frontline GmbH, a Hamburg-based streetwear e-commerce pioneer, and subscribes to a minority stake. With a turnover of more than 30 million Euros, frontlineshop.com is already one of the leading multi-brand retailers of streetwear and fashion. Frontline is the third investment of Acton's Heureka Growth Fund. The remaining Frontline shares are held by the managing directors. The terms of the deal were kept confidential.
Scouting new trends, frontlineshop is the front runner in providing the latest style in streetwear and fashion to its customers. Having served more than a million customers, frontlineshop has become an important sales channel for over 350 fashion brands. With trend-leading manufacturers such as adidas Originals, carhatt, Levis, Nike and others having become strategic partners, frontlineshop.com often has priority access to the latest products, combined with a quick and reliable end-consumer shipment
Therefore, frontlineshop delivers the latest style fast to consumers. Always one step ahead, frontlineshop enables its customers to understand fashion as a way of life: cool, brand-aware and at the pulse of time.
"We are satisfied to have Acton on board as an investor with long-term experience in consumer businesses", says Torsten Lange, founder and Managing Director of Frontline. "Acton opens up numerous opportunities for us and our business, at national and international level."
"In recent years we have set up very efficient business processes, from purchasing through to customer service", comments Stefan Puriss, Co-Managing Director of Frontline. "With the capital and expertise of Acton, we can take our company to the next level of growth - and will make it even more attractive to customers and suppliers."
"I'm impressed with the compelling position that Frontline has achieved in this attractive market", says Frank Seehaus, Managing Partner of Acton. "As a result, the team has built an ideal base to turn the company into an international fashion industry champion."
About Frontline GmbH:
Frontline GmbH (www.frontlineshop.com) is based in Hanover and Hamburg and is one of the leading German mail-order companies in the field of fashion.
The company sells clothing, shoes and accessories on the Internet through www.frontlineshop.com. Founded by Torsten Lange as a mail-order service for the audio recording industry, the company moved over to fashion in 1984.Since then, both the range of products and the company itself have grown continually. Currently more than 70 staff work for Frontline and they achieve an annual turnover of more than 30 million Euros.
About Acton Capital Partners GmbH:
Acton Capital Partners (www.actoncapital.de) is an independent, partner-led venture capital investor in the internet and mobile communications sector.
The investment focus of Acton's Heureka Growth Fund, established in 2008, is consumer-oriented business models in media, e-commerce and online marketplaces. Acton invests worldwide, with Europe as its main focus.Funding comes from international private and institutional investors. The growth equity investor's current portfolio includes Frontline, Glasses Direct, a British online prescription glasses retailer, and mytheresa.com, an international online retailer of luxury women's fashion and accessories.
In addition, Acton manages a portfolio of 16 internet-based companies that make up the BDV fund, now closed to new investments.
Munich-based Acton Capital Partners was founded in 2008 by Christoph Braun, Paul-Bernhard Kallen, Jan-Gisbert Schultze and Frank Seehaus. Before establishing their own independent business, the four partners worked successfully together for many years at the Hubert Burda Media group. From
1999 onward, they acquired stakes for Burda Digital Ventures GmbH in over 40 Internet-based B2C businesses, which they managed with great success. The best-known of these investments include AbeBooks, Alando, ciao.com, Elitepartner, HolidayCheck, OnVista and zooplus.