MML's Luneau buys French assets of Haag Streit

MML invested in Paris-based Luneau in March 2015. The deal was supported with financing from existing lenders BNP Paribas, Amundi and Crédit Agricole. The fresh capital was earmarked to support the company's organic growth, the creation of new products and for bolt-on opportunities.

The latter first materialised in September last year, as Luneau bought US-based AIT Industries, expanding its distribution and service capability in the US market. The purchase of Haag Streit's assets was meanwhile designed to bolster Luneau's position in the French visual healthcare and ophthalmology market.

Company
Luneau supplies diagnostic equipment, analysis and testing for ophthalmology, as well as refractive optometry equipment. The company operates in nine countries. The business trades through three brands: Briot, which focuses on the production of edgers and lab equipment for opticians; Weco, which manufactures edgers and lab equipment for opticians, as well as industrial services for large laboratories; and Visionix, which produces an advanced line of refraction and diagnostic instruments for opticians, optometrists and ophthalmologists.

Founded in 1858, Switzerland-based Haag Streit manufactures high-precision tools for diagnostics in the field of ophthalmology.

People
MML Capital Partners – Henry Louis Mérieux (managing partner).

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