CLEVELAND, OH (November 18, 2016) – Blue Point Capital Partners and its Blue Point III platform investment, Hilco Vision, announced today the acquisition of Jonathan Paul® Eyewear. The acquisition of Jonathan Paul® Eyewear further expands Hilco’s product breadth, as it is the pioneer designer of sunglasses designed to fit over prescription eyewear and distributor of the leading brand in that category – Jonathan Paul® Fitovers.
“In partnership with Blue Point, Hilco Vision continues to identify complementary products to add to its product mix and strengthens its geographic presence,” said John LeMay, a Partner with Blue Point. “The acquisition of Jonathan Paul® Eyewear follows three acquisitions completed in Europe in the last 18 months, and builds on Hilco’s momentum to deliver on its promise to be a global partner to its customers worldwide.”
Jonathan Paul® Fitovers, currently headquartered in Austin, TX, originated in Australia over twenty years ago. The brand quickly developed a reputation as the market innovator and leader in this unique eyewear category. As a result, the Company began distribution internationally and continues to experience strong global demand.
"We are extremely excited about the acquisition of such an innovative brand, recognized for its originality, functionality and design,” said Ross Brownlee, Chief Executive Officer of Hilco. “I am confident that together with designer Paul Stables, we will reach our full potential as a true global partner."
Paul Stables, Founder of Jonathan Paul® Eyewear, added, "I am delighted to be part of Hilco Vision as we continue to build this dynamic brand’s distribution on a global scale. The Fitovers brand is growing fast, and we are well-positioned to lead that growth by leveraging Hilco's extensive distribution channels and consistently high quality standards.”
Hilco Vision is a leading designer, manufacturer and distributor of eyewear and eye care accessories, supplies and equipment. Headquartered in Plainville, MA, with additional operations in Canada, China, Europe and Australia, Hilco supplies over 30,000 products in a broad range of categories to more than 25,000 domestic and international customers. The Company’s five primary product categories include: professional tools, vision protection, consumer accessories, lens and eye care.
Jonathan Paul® Fitovers is headquartered in Austin, TX, with distribution in Australia, New Zealand, United States, Hong Kong and China. Jonathan Paul® offers revolutionary fashionable and functional sunglasses designed to fit over prescription eyewear. The Company utilizes state-of-the-art frame and lens technologies to provide modern prescription frame wearers with a fit-over sunglass that fits their frames and lifestyles.
Blue Point Capital Partners 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 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.
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
HILCO VISION
Ross Brownlee
Chief Executive Officer
Hilco Vision
33 West Bacon Street
Plainville, MA 02762
(800) 955-6544