Windjammer Capital Investors is pleased to announce that its portfolio company, Hilco Vision (“Hilco” or the “Company”), has acquired Belgium and Netherlands-based Simovision BV (“Simovision”), effective November 17, 2021. The terms of the transaction were not disclosed.
Simovision is a leading distributor of ophthalmic products with dedicated divisions providing consumables and equipment for refractive, cataract, and retina surgery, and dry eye patients throughout Belgium and the Netherlands. The Company has established a strong reputation for bringing innovation to its customers, coupled with service excellence.
Simovision was established by Marc Simonet in 2002 and will continue to be based out of its Overijse headquarters in Belgium.
Ross Brownlee, CEO of Hilco Vision, commented, “Ophthalmic products are a core part of our proposition in North America; while in Europe, our channel and product focus has primarily been bringing differentiated solutions to opticians. This acquisition is the first step to ensuring our portfolio and reach can be expanded to include specialist ophthalmologists and clinics in Europe. The innovation and service model championed by Simovision are a strong fit with our aspirations, and we are excited to partner with Marc and his team going forward.”
“Simovision has established important relationships with hospitals, private clinics, surgeons, and leading manufacturers over many years” stated Marc Simonet, CEO of Simovision. "We look forward to the next chapter of bringing innovative solutions to the market as a part of Hilco Vision. Our two companies truly share common values, and we are excited for what the future can bring.” Marc Simonet, along with his team, will continue with the company.
“We are excited to partner with Ross and the Hilco team as they expand their product offering and geographic reach with this transaction” said Matt Anderson, Managing Director at Windjammer Capital. “With the addition of Simovision, Hilco continues to define itself as a leading provider of products serving the ophthalmic and dry eye markets globally. More broadly, the Company’s expansive product portfolio and best in class customer service offers a compelling value proposition, delivering comprehensive solutions for the professional eyecare market worldwide. We are proud to support Hilco in its organic and acquisition-oriented growth plans and will continue to seek add-on opportunities that create value for its customers." Hilco was acquired by Windjammer Capital in September of 2019.
For more information on Hilco please visit its website at www.hilcovision.com.
Please contact Greg Bondick (gbondick@windjammercapital.com) or Matt Anderson (manderson@windjammercapital.com) at Windjammer with any questions regarding the transaction.
About Windjammer Capital
Windjammer Capital is a national private equity investment firm, based in Newport Beach, CA and Waltham, MA that invests control equity in middle-market businesses and in partnership with management. Since its founding in 1990, Windjammer has managed over $2 billion of committed capital with respect to its control equity investment strategy, and since inception has completed over 50 platform investments and more than 100 strategic add-ons. The firm targets investments in companies that are leaders in attractive niche markets and share several of the following characteristics: significant and defensible market positions; differentiated products and services; strong management teams; scalable business models; identifiable growth opportunities; and consistent financial performance. www.windjammercapital.com
About Hilco Vision
Hilco Vision is an industry leading global vision care company delivering comprehensive solutions to customers, built on a platform of innovation and operational excellence. It has direct subsidiaries in the USA, Canada, UK, Germany, Australia, China, and the Netherlands. The company’s product portfolio is concentrated on 5 primary product categories: Professional Optical Tools, Ophthalmic Supplies, Vision Protection, Consumer Accessories and Lenscare.