CLEVELAND, OH (January 24, 2017) – Blue Point Capital Partners and its Blue Point III portfolio company, Hilco Vision, announced today the acquisition of Croakies® Inc., the original creator of eyewear retainers and related outdoor lifestyle accessories. This transaction represents the fifth add-on acquisition for Hilco since Blue Point acquired the platform investment in May 2014.
“The Croakies brand is extremely complementary to Hilco’s existing product, service and brand portfolio,” said John LeMay, a Partner with Blue Point. “In partnership with Blue Point, Hilco has benefited from both add-on acquisitions and organic growth, and the acquisition of Croakies will build on the strong momentum at Hilco.”
Ross Brownlee, Chief Executive Officer of Hilco Vision adds, "Product innovation and brand authenticity are Hilco’s priority. Croakies is synonymous with eyewear retention and has built an incredibly loyal customer base over the past 40 years. We are enthusiastic to invest in the innovation and continued growth of the Croakies brand.”
Croakies products are sold by retailers throughout the U.S. and in over 30 countries; they are a fixture in outdoor adventures around the globe.
“Croakies originated on the slopes of Jackson Hole Mountain Resort and at its core has the desire to meet the needs of the everyday adventurer,” said John Krisik, President of Croakies. “As I prepare for my retirement at the end of the month, I am certain Hilco is well suited to continue our legacy in creating eyewear retainers and accessories that provide outstanding comfort, style, durability and functionality.”
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 25,000 domestic and international customers. The Company’s five primary product categories include: professional tools, consumer accessories, lens care, vision protection and eye care.
Croakies® Inc. was founded in 1977 by a local ski patrolman from Jackson Hole Mountain Resort in Wyoming, and remains headquartered in the mountains of the American West with majority of its production in Bozeman, Montana. With Yellowstone and Grand Teton National Parks as a backyard, the brand’s inspiration remains unchanged: to create best-in-class retention products that inspire everyday adventure and provide comfort, style, durability and functionality to active people of all ages.
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