BPM provided financing for the MBO of the leading Baltic eye care chain operator

10 June 2016

BPM Mezzanine Fund SICAV-SIF, SCA (BPM) has provided financing for the management buy-out (MBO) of SIA Optometrijas centrs ("Optometrijas centrs"). The transaction represents a buy-out of majority ownership held by a number of private individuals and adjusting financing structure of Optometrijas centrs to pursue further acquisitions for market consolidation in the Baltics. Optometrijas centrs is the leading eye care chain operator and eye care products and instruments wholesaler in the region, managing stores in Latvia and Lithuania under the brands Vision Express, Optio, Pasaules Optika and Lornete, as well as internet stores under the brand of dr.Lensor. Established in 1992, the company has built a very strong foothold in the Baltics over the years.

Commenting on the deal, the CEO of Optometrijas centrs, Mr. Janis Dzenis, noted that the buy-out of the group of private individuals holding majority stake, was a logical step in the development of the company. “We are grateful to the exiting shareholders, who historically were with us on this journey for nearly 25 years. This transaction is an important step towards consolidating the Baltic eye care retail market as attraction of strong financial partner BPM enables us to pursue more aggressive growth strategy in the Baltics via M&As as well as via organic expansion"

“It is an excellent opportunity for us to support the growth of Optometrijas centrs and back further consolidation of the market. We believe in the management team, who has developed the company into a market leader in the Baltics. We also consider the market to be very attractive with its countercyclical characteristics. The investment fits well in BPM’s portfolio due to its growth potential and pan-Baltic operations,” said Martin Reinson, Partner of BPM Capital.

For further enquiries, please contact:
BPM Capital: Martin Reinson, tel: +372 605 0072, e-mail: martin.reinson@bpmcapital.eu
Optometrijas centrs: Toms Dzenis, tel: +371 2912 3351 e-mail: toms.dzenis@optika.lv

About BPM Capital:

BPM Capital (www.bpmcapital.eu) is an independent investment manager operating out of two offices, in Tallinn and Warsaw. It has been founded and is managed by Kalmer Kikas, Martin Reinson, Paweł Zabrzycki and Priit Veering. BPM is supported by prominent international and domestic institutional investors. BPM was originated through the Baltic Innovation Fund initiative created by cooperation between Estonia, Latvia, Lithuania and the European Investment Fund

About Optometrijas centrs:

Optometrijas centrs is a retailer and wholesaler of eye care products in Latvia and Lithuania. It is managing retail chains under brands Vision Express (www.visionexpress.lv), Optio (www.optio.lv), Pasaules Optika (www.pasaulesoptika.lv) and Lornete and it has 68 shops in the region, as well as 2 internet stores under the brand dr. Lensor in Latvia and Lithuania. Optometrijas centrs has established itself as a market leader in the Baltics with total sales of 15.8 mEUR.

Photo: Anton Repponen

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