Photographed during Development Capital’s announcement Fund II€ 12 million investment in Spotlight Oral Care (LR): Dr. Barry Buckley (COO, Spotlight Oral Care), Dr. Lisa Creaven (CMO, Spotlight Oral Care), Dr. Vanessa Creaven (CEO, Spotlight Oral Care) , Anthony O’Driscoll (Director of Investments, Development Capital) and Andrew Bourg (Partner, Development Capital)
Development Capital invests 12 million euros in Spotlight Oral Care to continue its international expansion
Development Capital announced a € 12 million investment in Spotlight Oral Care Limited, a premium oral care brand. The € 12 million investment, which is Development Capital’s largest and largest investment to date, will allow Spotlight Oral Care to continue its international expansion in Europe (mainly Ireland, UK and Europe). Scandinavia) and the United States.
Spotlight Oral Care has grown over the past 18 months, with revenue tripling to € 19 million in the last fiscal year. The product line and distribution channels have expanded, with leading US retailers including Ulta Beauty, CVS and Target. Currently, Spotlight Oral Care has a strong presence in Ireland with pharmaceutical and retail partners including Dunnes Stores, Tesco, Arnotts and Brown Thomas, while high end UK resellers include Cult Beauty, Boots and Look Fantastic. The company also hosts direct-to-consumer sales through its dedicated regional websites.
Spotlight Oral Care was founded in 2016 by three dentists, Dr. Vanessa Creaven, Dr. Lisa Creaven and Dr. Barry Buckley. By combining their experience and understanding of patient concerns as dentists, with a research-driven approach to New Product Development (NPD), the company’s goal is to bridge the gap between oral care. dental and oral beauty, while providing a personalized and sustainable alternative to generic oral medications. care.
Development Capital’s € 12 million investment will help continue the company’s international expansion in Europe, the UK and the US, with revenue of € 19 million expected to triple in the next 3 years. While Spotlight Oral Care already has 52 employees in Ireland, UK and US, the company hopes this will help attract and secure new talent for the company’s growing international leadership team, as well as to support NPD, product innovation and will help grow the online and retail channels.
Development Capital’s € 12 million investment will help continue the company’s international expansion in Europe, the UK and the US, with revenue of € 19 million expected to triple over the next 3 years.
The € 12 million investment is made by Development Capital Fund II, a € 75 million fund managed by Development Capital. The successor fund to the BDO Development Capital Fund, Development Capital Fund II, is supported by the European Investment Fund (EIF), the Irish Strategic Investment Fund (ISIF) and the Bank of Ireland. Development Capital provides development and growth capital to established, medium-sized and profitable businesses to help them accelerate and achieve their export-oriented growth plans.
As part of this investment, Spotlight Oral Care Limited welcomes Andrew Bourg, co-founding partner of Development Capital, to its board of directors. Announcing the first investment made by Development Capital Fund II, Andrew Bourg said: “We are delighted to announce Spotlight Oral Care as our first investment from our second Development Capital fund. Spotlight Oral Care is precisely the type of business that Development Capital II was created to support, being a high growth company with an experienced and ambitious management team and a solid background. We are delighted to partner with Vanessa, Lisa, Barry and the entire Spotlight Oral Care leadership team. We look forward to supporting and assisting their ambitious plans for the development and internationalization of the company. “
Dr Vanessa Creaven, Co-Founder and CEO of Spotlight Oral Care, said, “This investment from Development Capital is a key moment for us in the business as we have experienced rapid business growth over the past 12-18. month. The financial support and expertise that comes with this investment will allow Spotlight Oral Care to grow further and continue to help us revolutionize oral care. We are excited to be working with a team that supports SMEs like ours and we look forward to having Andrew on our board.
Development Capital’s investment model is based on supporting the management teams of SMEs by providing them with both funding and experience to unlock and accelerate their growth potential.
To date, the BDO Development Capital Fund has successfully exited five of its nine issuers – Version 1, Lifes2Good, Netwatch, Blueface and Perigord. The permanent investors of BDO Development Capital Fund are ATA Group, Ina’s Kitchen Desserts Limited t / a Broderick’s, Multihog and Obelisk.