Veke’s majority to Sentica
3J Partners advised owners of Veke, on a transaction where they have sold the majority of a furniture and decor company Veke to Sentica Partners.
Furniture and decor retailer Veke has been one of the fastest growing eCommerce retailer in the industry. The year 2021 delivered very high market activity and digital retail has continued its strong growth path. Veke’s revenue surpassed €30 million, and profitability continued positive development. Approximately 75 % of revenue was generated from eCommerce and the remaining share was delivered by its three brick-and-mortars in Vantaa, Oulu and Rovaniemi.
Within a few years, Veke, the eCommerce forerunner has become a leading operator in the online segment. Private equity investor Sentica and Veke have a shared mission in developing Veke into one of the largest omni-channel furniture and décor companies in Finland.