Blue Point Capital Partners said Tuesday that it has recapitalized The Hilsinger Company. No financial terms were disclosed. Headquartered in Plainville, Mass., Hilsinger is a maker and distributor of eyewear products and accessories.
CLEVELAND, OH–(Marketwired – May 27, 2014) – Blue Point Capital Partners announced today the recapitalization of The Hilsinger Company, a leading designer, manufacturer and distributor of eyewear and eye care accessories, supplies and equipment. Hilsinger supplies more than 20,000 products in a broad range of categories, including prescription protective eyewear, consumer and professional optical accessories, and ophthalmic products. The Company is the leading supplier of smart optical solutions to independent eye care professionals and optical chains.
Blue Point, with offices in Charlotte, Cleveland, Seattle and Shanghai, is one of the largest resident private equity firms in each of its target markets. Employing its domestic and Asian resources, Blue Point’s investment in Hilsinger is focused on optimizing the Company’s operations and supply chain while supporting opportunities for growth. Hilsinger represents the second platform investment for Blue Point III, the firm’s third middle-market buyout fund.
“Hilsinger has been a leader in the optical industry for nearly sixty years, and we will benefit from the unique value and fresh perspective that Blue Point will bring to our Company,” said Bob Nahmias, chief executive officer of Hilsinger. “Blue Point’s access to exceptional resources, including its presence in China, will be invaluable to Hilsinger as we look to expand into other markets and broaden our eyewear and eye care product offerings. With Blue Point’s strategic and operational guidance, we look forward to the opportunities on the horizon for Hilsinger.”
John LeMay, a partner with Blue Point, said, “Hilsinger’s market leadership and history of successful acquisitions create a strong platform for future growth. We plan to support the Company in executing additional domestic and international acquisitions and optimizing its sourcing capabilities with our Shanghai-based supply-chain team. Blue Point looks forward to collaborating with the excellent management team at Hilsinger to build on its historical success.”
Since 1956, Hilsinger (www.hilco.com) has been providing eye care professionals and consumers with its innovative products and accessories. With more than 25,000 customers globally, the Company serves the market through five primary brands: Hilco, Wilson Ophthalmic, Leader, OnGuard Safety and i-Promotions. Hilsinger is headquartered in Plainville, MA, and has additional operations in North America, Europe and Australia.
Blue Point Capital Partners (www.bluepointcapital.com) is a private equity firm managing over $800 million in committed capital. Leveraging fully staffed offices in Charlotte, Cleveland, Seattle and Shanghai, Blue Point’s entrenched regional presence affords it the opportunity to establish relationships on a local and regional basis with entrepreneurs and their trusted advisors, while simultaneously providing the resources of a large, international firm. Blue Point has a 24-year track record of partnering with companies in the lower middle market where it can bring about accelerated growth and transformative change in partnership with its companies, their management teams and Blue Point’s network of operating resources. Blue Point is one of only a few middle-market private equity firms with a presence in the economies of both the United States and China, and the firm’s experience with cross-border management and value drivers provides a distinct advantage for its portfolio businesses. Blue Point invests in manufacturing, distribution and service businesses generating $20 million to $200 million in revenue.