Formentor Capital buys Grand Vision Optics

The company's founder and CEO, Alberto Paulet, will retain a minority stake and continue to lead the business.

Formentor invested in the company via its €120m debut fund. The vehicle targets SMEs with EBITDA of more than €2m and acquires majority and minority stakes with tickets in the €10-20m range.

Bilbao-based private equity specialist Talde provided a debt package to finance the deal, which amounted to €5.7m, with a maturity of seven years. The financing was deployed from Talde Private Debt Fund, which provides senior secured debt to small and medium-sized companies with international growth and expansion projects. It deploys tickets of €5-15m per deal. The fund has a target of €100m and has raised commitments of €65m so far, including from institutional investor Fond ICO Global and Spanish private investors.

Formentor and Talde intend to support the company's growth, its international expansion, and its consolidation in Spain and across new geographies.

Company
Established in 1987 and based in Madrid, GVO manufactures and distributes eyewear.

The company markets its products under its own brands: Nano Optical, Nano Baby and Nano Solar for the children segment, Dosuno for adults and VerSport for protective sport eyewear.

GVO distributes its products to 65 countries worldwide via Spanish and international eyewear retailers such as Alain Afflelou, Sun Planet, Essilor, Opticalia and Multiópticas.

People
Formentor Capital – Bernardino Díaz-Andreu, José Ramón de Pablo (founding partners).
Talde Private Equity – José María Zalbidegoitia (chair).
Grand Vision Optics – Alberto Paulet (founder).

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• Topics
• Buyouts
• Southern Europe
• Consumer
• Spain