CLEVELAND, OH (May 23, 2017) – Blue Point Capital Partners and its Blue Point III portfolio company, Hilco Vision, announced the acquisition of the cases and accessories division of LBI Eyewear, a leading distributor of frames, cases and accessories, headquartered in California with operations in Las Vegas, Nevada.
This transaction represents the sixth add-on acquisition for Hilco since Blue Point acquired the platform investment in May 2014, and the second acquisition for Hilco in 2017.
“LBI is a strong player that adds valuable product scale, particularly within cases, to Hilco Vision. While partnered with Blue Point, Hilco has continued its focus on identifying and pursuing complementary categories and operating scale to position the Company for continued growth,” said Jonathan Pressnell, a Principal with Blue Point.
Ross Brownlee, Chief Executive Officer of Hilco Vision said, "We have long been impressed by LBI’s capabilities and loyal customer base built for its cases and accessories programs. The consumer accessories category is increasingly important to Hilco Vision as we seek to simplify the buying experience for our customers. We are excited to expand LBI’s reach and leverage our digital capabilities to enhance the customer experience.”
“We strongly believe that partnering with Hilco Vision will bring a significant value proposition to our customers and strengthen what we have built over the last 68 years,” said Chett Lehrer, co-owner of LBI Eyewear. “We pride ourselves on an exceptional product and customer focus, and Hilco Vision will help to continue that mission.”
Hilco Vision 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, China, Europe and Australia, Hilco supplies over 30,000 products in a broad range of categories to more than 40,000 domestic and international customers. The Company’s five primary product categories include: professional tools, consumer accessories, lens care, vision protection and eye care.
LBI Eyewear, a family operated business, has been an eyewear industry leader since its inception in 1949. LBI is one of the first eyewear companies to import European styles in North America, and has created a name for itself in terms of quality and fashion in frames, cases and accessories. LBI holds true to its motto: Excellence for Value.
Blue Point Capital Partners is a private equity firm managing over $825 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 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 $300 million in revenue.
For more information, contact:
BLUE POINT CAPITAL PARTNERS
Partner
Blue Point Capital Partners, LLC
127 Public Square, Suite 5100
Cleveland, OH 44114
(216) 535-4707
Principal
Blue Point Capital Partners, LLC
127 Public Square, Suite 5100
Cleveland, OH 44114
(216) 535-4713
HILCO VISION
Ross Brownlee
Chief Executive Officer
Hilco Vision
33 West Bacon Street
Plainville, MA 02762
(800) 955-6544