Development Capital Backs Spotlight Oral Care

08 Jul 2021 | 10.37 am

Development Capital Backs Spotlight Oral Care

Private equity investor gets its teeth into dental revolution

08 Jul 2021 | 10.37 am

Dental care product brand Spotlight Oral Care has raised €12m via an investment by fund manager Development Capital, aimed at expanding its presence in Europe and the US.

Founded in 2016 by dentists Vanessa Creaven, Lisa Creaven and Barry Buckley, Spotlight’s aim “is to bridge the gap between oral care and oral beauty, while offering a personalised and sustainable alternative to generic oral care”.

Its 17 products are clinically formulated and tailored to target specific oral health needs using clean, active ingredients.

“All products have been created by the brand’s co-founders, utilising their clinical expertise.  Toxin-free formulations and eco-friendly packaging are other key differentiators relative to market competitors,” says the company.

Turnover trebled to €19m in the last financial year, according to the company, with high-profile US retailers such as Ultra Beauty, CVS and Target taking on the products, joining British stockists like Cult Beauty, Boots and Look Fantastic and Irish outlets including Dunnes Stores, Tesco, Arnotts and Brown Thomas.

The company also hosts direct-to-consumer sales via region-based websites.

Chief executive Dr Vanessa Creaven said: “This investment by Development Capital is a pinnacle moment for us, as we have experienced rapid business growth in the last 12 to 18 months. The financial support and expertise that comes with this investment will allow Spotlight Oral Care to expand further and continue to help us revolutionise oral care.”

Development Capital partner Andrew Bourg commented: “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 company that Development Capital II was set up to support, being a high-growth company with an experienced and ambitious management team and a strong track record.”

Bourg added that Development Capital’s investment model is based on backing SME management teams by providing them with both the funding and experience to unlock and accelerate their growth potential.  The fund has exited successfully from investments in Version 1, Lifes2Good, Netwatch, Blueface and Perigord.

Photo: Lisa and Vanessa Creaven

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