Hilco Vision, a portfolio company of Blue Point Capital Partners, has completed two add-on acquisitions – the third and fourth add-on acquisitions for the company – with the buys of Optiplus and Proteye. Hilco Vision has been a Blue Point portfolio company since May 2014.
Optiplus is a distributor of eyewear accessories, professional tools and lens-care in the Netherlands and is based northeast of Amsterdam in Leek (www.optiplus.nl).
Proteye is a designer, manufacturer and distributor of prescription industrial safety eyewear, sports frames and swimming goggles. The company is based southwest of Rotterdam in Middelburg (www.proteye.nl/en/).
“Joining forces with Optiplus and Proteye is central to our European growth strategy at Hilco Vision. This combination will expand our distribution throughout the Benelux region,” said Ross Brownlee, Chief Executive Officer of Hilco Vision.
In August 2015, Hilco Vision closed on its first two add-ons when it acquired Breitfeld & Schliekert (B&S) and Lexxoo International. B&S is a Germany-based distributor of optical and optometric tools, equipment, supplies and accessories. The company has approximately 30,000 SKUs that are sold to major optical chains, independent eye care offices and optical labs across Europe (www.b-s.de). Lexxoo is also based in Germany and supplies sunglasses, reading aids, contact lenses and related products to large retailers, including convenience and drug stores, throughout the country (www.lexxoo.com).
“Hilco Vision is a true international eye care solutions provider, strengthened by the acquisitions of Optiplus and Proteye.” said John LeMay, a Partner with Blue Point. “Following the 2015 acquisitions of Breitfeld & Schliekert and Lexxoo International, the addition of these market leaders will further reinforce Hilco’s position in Europe, as it continues to bring comprehensive solutions to its global customers.”
Today, Hilco Vision is a designer, manufacturer and distributor of eyewear and eye care accessories, supplies and equipment. The company supplies more than 30,000 SKUs to more than 35,000 domestic and international customers. The company is headquartered southwest of Boston in Plainville, MA, with additional operations in Canada, Europe and Australia (www.hilco.com).
Blue Point Capital Partners is a lower middle market private equity firm that invests in manufacturing, distribution and service businesses generating $20 million to $200 million in revenue. The firm has over $800 million in committed capital and has offices in Cleveland, Charlotte, Seattle, and Shanghai (www.bluepointcapital.com).
© 2016 Private Equity Professional • 9-27-16
