Hilco Recapitalized by Blue Point Capital Partners

By

Bob Nahmias, CEO of Hilco.

PLAINVILLE, Mass.— Blue Point Capital Partners announced yesterday the recapitalization of The Hilsinger Company (Hilco), a leading designer, manufacturer and distributor of eyewear and eyecare accessories, supplies and equipment. Terms of the deal were not disclosed.

Hilco supplies more than 20,000 products, including prescription protective eyewear, consumer and professional optical accessories, and ophthalmic products. Since 1956, Hilco has been providing eyecare professionals and consumers with its innovative products and accessories. With more than 25,000 customers globally, the company serves the market through five primary brands: Hilco, Wilson Ophthalmic, Leader, OnGuard Safety and i-Promotions. Headquartered here, Hilco has additional operations in North America, Europe and Australia.

“This is our fourth private equity owner,” Bob Nahmias, CEO of Hilco told VMail. “There will be no changes at Hilco,” he added. “Hilsinger has been a leader in the optical industry for nearly 60 years, and we will benefit from the unique value and fresh perspective that Blue Point will bring to our company. Blue Point's access to exceptional resources, including its presence in China, will be invaluable to Hilsinger as we look to expand into other markets and broaden our eyewear and eyecare product offerings. With Blue Point's strategic and operational guidance, we look forward to the opportunities on the horizon for Hilsinger.”

Blue Point, with offices in Charlotte, Cleveland, Seattle and Shanghai, is a private equity firm managing over $800 million in committed capital. Employing its domestic and Asian resources, Blue Point's investment in Hilco is focused on optimizing the company's operations and supply chain while supporting opportunities for growth.

Blue Point has a 24-year track record of partnering with companies in the lower middle market where it can bring about accelerated growth and transformative change in partnership with its companies, their management teams and Blue Point's network of operating resources. Hilco represents the second platform investment for Blue Point III, the firm's third middle-market buyout fund. Blue Point invests in manufacturing, distribution and service businesses generating $20 million to $200 million in revenue.

John LeMay, a partner with Blue Point, said, “Hilsinger's market leadership and history of successful acquisitions create a strong platform for future growth. We plan to support the company in executing additional domestic and international acquisitions and optimizing its sourcing capabilities with our Shanghai-based supply-chain team. Blue Point looks forward to collaborating with the excellent management team at Hilsinger to build on its historical success,” he said.