Blue Point Capital Partners has acquired two Dutch eyewear accessories companies Optiplus and Proteye as add-ons for portfolio company Hilco Vision. No financial terms were disclosed.
CLEVELAND, OH–(Marketwired – September 22, 2016) – Blue Point Capital Partners, in conjunction with its portfolio company, Hilco Vision, announced today the acquisitions of Optiplus and Proteye. These transactions represent the second and third add-on acquisitions for Hilco Vision since Blue Point acquired the platform investment in May 2014.
“Hilco Vision is a true international eye care solutions provider, strengthened by the acquisitions of Optiplus and Proteye located in the Netherlands,” said John LeMay, a Partner with Blue Point. “Following the 2015 acquisitions of Germany-based Breitfeld & Schliekert (B&S) 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.”
Hilco Vision (www.hilco.com) is a leading designer, manufacturer and distributor of eyewear and eye care accessories, supplies and equipment. Headquartered in Plainville, Massachusetts, with additional operations in Canada, Europe and Australia, Hilco supplies over 30,000 products in a broad range of categories to more than 35,000 domestic and international customers.
Optiplus is the market leading distributor for eyewear accessories, professional tools and lens-care in the Netherlands. Proteye is the market leading designer, manufacturer and distributor of RX industrial safety eyewear, sports frames and swimming goggles; together with B&S, these three form Hilco Benelux.
Ross Brownlee, Chief Executive Officer of Hilco, said, “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 as we continue to deliver unmatched, innovative vision care solutions to our customers.”
Kees Rozema, current Managing Director of Optiplus, who will continue the role at Hilco Benelux added, “We all share a common goal which is to provide exceptional products and capabilities to our customers — we couldn’t be more excited for the opportunity to partner with Hilco Vision and watch our existing and future markets grow.”
Blue Point Capital Partners (www.bluepointcapital.com) is a private equity firm managing over $800 million in committed capital. With offices in Cleveland, Charlotte, Seattle and Shanghai, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors, while simultaneously providing the resources of an international firm. The Blue Point group has a 26-year track record of partnering with companies in the lower middle market to facilitate growth and transformative change. It is one of only a few middle market private equity firms with a presence in both the United States and China, which provides a distinct advantage for its portfolio companies. Blue Point typically invests in manufacturing, distribution and service businesses generating between $20 million and $200 million in revenue.