News - August, 2016
Munich/Luxembourg – August 16, 2016 – Cipio Partners, a leading European secondary direct and growth capital investment firm, announces that it has entered into a definitive agreement for the sale of its portfolio company, the MyOptique Group, to Essilor International, the world leader in ophthalmic optics.
Subsequent to the transaction, the management of MyOptique will remain in place and will leverage Essilor International’s capabilities to continue growing its leading position in Europe. As part of Essilor, MyOptique will leverage Essilor’s global supply chain and collaborate with its other operating businesses to improve the reach and effectiveness of its business across Europe.
MyOptique is a privately held, Venture Capital backed business. Shareholders who supported the successful development of the company and will sell their shares in this transaction include Acton Capital Partners, Beringea, Cipio Partners, Index Ventures, Korys and Highland Capital Europe.
Roland Dennert, Managing Partner at Cipio Partners, commented: “Our investment in MyOptique illustrates our strategy of combining secondary direct and growth capital investments. We acquired the shares of the original founder of the company three years ago and then helped to back the company’s growth and in particular subsequent add-on acquisitions. Management has done a great job executing and integrating these acquisitions to build a pan-European leader in the category.”
About MyOptique Group
MyOptique is a major online player across all eyewear categories – prescription glasses, contact lenses and sunglasses – in Europe. It has enjoyed double-digit growth over each of the last eight years. The Group operates six online retail brands – Glasses Direct, SunglassesShop, LensOn, Lensbest, Eyewearbrands and Netzoptiker. Together they have served three million customers and have shipped over 280 million contact lenses and 7 million glasses and sunglasses.
MyOptique’s brands share a record of driving innovation to provide the best possible customer experience. Glasses Direct (founded by Jamie Murray Wells) was the first to take prescription eyewear online, to offer customers a home trial, and to have a virtual mirror. Lensbest was the first to sell contact lenses by mail order in Germany and to sell own brand contacts as a fully certified medical producer. LensOn was the first in the Nordics to introduce one click reordering for contact lenses.
The innovation continues – in 2015 Glasses Direct was recognised as delivering the best ecommerce experience in the Retail Week Customer Experience Awards, winning Outstanding Digital Experience for Ditto, its new cutting-edge 3D virtual try on service. It is also a Future Fifty company – recognised by the British Government for its growth and innovation in the optical market. Further information is available at www.myoptiquegroup.com
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