Kempen invests in BCP’s Ounda

Ounda’s management team are also co-investing in the deal, according to a statement.

Ounda posted EBITDA of €2m and revenues of €11m when it was formed in June 2020, as reported. BCP managing partner Chrisoph Kauter told Unquote at the time that the company intended to acquire 80 further opticians, increasing its presence to 100 sites in Germany, with the aim of adding 35-40 locations over the next year. Kauter said that the company’s revenues were expected to be in the €40-50m within two to three years of BCP investing.

BCP invested in Ounda via Beyond Capital Partners Fund II, which held a final close in April 2021 on €115m, as reported.

Kempen said in a statement that the deal is the fifth platform investment in 2021 from Kempen European Private Equity Fund, which held a final close in December 2019 on €192.5m. The vehicle invests in small and lower-mid-market companies with enterprise values of €20-40m, investing €2-15m per deal. The fund aims to make around 10 investments, five of which will be co-investments. The fund has now made seven platform deals.

Company
Ounda is a premium optician and audiologist chain operating under the brand “Klein, aber fein” (“small is beautiful”). Headquartered in Münster, the company employs 400 staff and has 65 sites, compared with 20 sites on its establishment in 2020.

People
Kempen Private Equity – Sven Smeets (managing director); Bram Bikker (director).
Beyond Capital Partners – Christoph Kauter (managing partner).

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• Topics
• Expansion
• DACH
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• Germany