3i-backed Hans Anders buys Vendis-backed Eyes + More

3i expects to invest up to €60m in Hans Anders to support the bolt-on, which expands the group's presence in Germany, the Netherlands, Belgium and Austria.

The GP acquired Hans Anders from AlpInvest in 2017 for an enterprise value of approximately €350m.

Vendis bought Eyes + More in 2010 for an equity investment of €12m, drawing capital from its first buyout fund. At the time, the company employed 292 people and generated sales of €16m, according to Unquote Data.

Company
Eyes + More was founded in 2005 in the Netherlands, and now operates 170 stores – 119 in Germany, 33 in the Netherlands, 10 in Belgium and eight in Austria. It sells prescription glasses and private label sunglasses.

People
3i Group – Boris Kawohl (partner).
Vendis Capital – Michiel Deturck (partner).
Hans Anders – Bart van den Nieuwenhof (CEO).

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• Topics
• Expansion
• Exits
• DACH
• Consumer
• 3i
• Build-up
• Vendis Capital
• Trade sale
• Germany