Fri, 20 Sep 2019

Blue Point Exits The Hilsinger Company

ACCESSWIRE
10 Sep 2019, 23:01 GMT+10

CLEVELAND, OH / ACCESSWIRE / September 10, 2019 / Blue Point Capital Partners announced today the successful exit of its interest in The Hilsinger Company ("Hilco Vision" or "Hilco") (www.hilcovision.com), a Blue Point III portfolio company. Hilsinger is the global leader in the distribution of optical products and accessories to opticians, optometrists and ophthalmologists. Sale terms were not disclosed.

During Blue Point's investment period, Hilco's sales and EBITDA nearly doubled while its product and customer breadth, geographic footprint and distribution network significantly increased. Hilco also completed and integrated eight add-on acquisitions, allowing it to build a stronger presence in Europe and healthcare markets and broaden its product and brand portfolio.

"We are grateful to have had the opportunity to partner with Ross Brownlee and the excellent team at Hilco. Through their good work we were able to successfully execute against all the key value creation strategies and significantly enhance the competitive position and growth profile for Hilco," said John LeMay, a Partner with Blue Point.

Blue Point invested in Hilco in mid-2014, attracted by its industry leadership in optical markets and opportunity to grow the company through strategic acquisitions and further develop its commercial capabilities. Blue Point assisted Hilco in optimizing its pricing model, improving its supply chain capabilities and implementing digital marketing strategies.

In the course of its ownership, Blue Point brought in CEO Ross Brownlee to lead the Hilco team. "I have been thrilled to work alongside the Blue Point team and be a part of Hilco's success to date," said Brownlee. "The meeting of the minds with ownership, the access to their value creation toolkit, and their readiness to invest have all been pivotal to our sustainable success. It has been incredibly satisfying to build a stronger company together with Blue Point and we can now look forward to an equally dynamic future under new ownership."

Jonathan Pressnell, a Principal at Blue Point, said "Hilco was an excellent fit for Blue Point as we were able to leverage several of our key capabilities including Data & Digital, M&A and Asian strategies. We look forward to seeing the Hilco team continue to execute on their growth strategy and are glad to have been part of this chapter in their evolution."

Blue Point was represented by Houlihan Lokey and Baker & Hostetler LLP in connection with the transaction.

Blue Point Capital Partners (www.bluepointcapital.com) is a private equity firm managing over $1.5 billion 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 a global organization. The Blue Point partner group has a 20-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 Asia, which provides a distinct advantage for its portfolio companies. Blue Point typically invests in businesses that generate between $20 million and $300 million in revenue.

For more information, contact:

BLUE POINT CAPITAL PARTNERS
127 Public Square, Suite 5100
Cleveland, OH 44114
John LeMay
Partner
(216) 535-4707
jlemay@bluepointcapital.com

Jonathan Pressnell
Principal
(216) 535-4713
jpressnell@bluepointcapital.com

HILCO VISION
Ross Brownlee
CEO
33 West Bacon Street
Plainville, MA 02762
(800) 955-6544
(310) 631-4955

SOURCE: Blue Point Capital



View source version on accesswire.com:
https://www.accesswire.com/558990/Blue-Point-Exits-The-Hilsinger-Company

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