M&A Deal Summary

Blue Point Capital Partners Acquires Hilco Vision

On May 27, 2014, private equity firm Blue Point Capital Partners acquired consumer products company Hilco Vision from Incline Equity Partners and Audax Private Debt

Acquisition Highlights
  • This is Blue Point Capital Partners’ 3rd transaction in the Consumer Products sector.
  • This is Blue Point Capital Partners’ 25th transaction in the United States.
  • This is Blue Point Capital Partners’ 2nd transaction in Massachusetts.
Investment Fate
  • Hilco Vision was sold to a consortium of financial buyers in 2019.

M&A Deal Summary

Date 2014-05-27
Target Hilco Vision
Sector Consumer Products
Buyer(s) Blue Point Capital Partners
Sellers(s) Incline Equity Partners
Audax Private Debt
Deal Type Recapitalization
Advisor(s) William Blair (Financial)

Target

Hilco Vision

Mansfield, Massachusetts, United States
Hilco Vision is a distributor of branded and consumable professional eyecare products and optical accessories throughout the eye healthcare supply chain. Hilco Vision has a diverse suite of branded and non-branded optical products and accessories, offering more than 30,000 SKUs and an expansive distribution network, uniquely allowing the Company to serve both optical chains and independent optical locations alike as a "one-stop-shop." Hilco Vision was founded in 1956 and is based in Mansfield, Massachusetts.

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Buyer(S) 1

Buyer

Blue Point Capital Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1990
PE ASSETS 1.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Blue Point Capital Partners is a middle-market private equity firm focused on investments throughout the US, Canada, and Europe. The Firm looks to commit $10 to $50 million of equity capital in companies generating sales of $30 to $300 million and EBITDA of at least $5 million. Blue Point looks for control investments that arise from management led buyouts, recapitalizaitons, and companies in need of growth capital. Sectors of interest include transportation components, metals processing, plastics, packaging, specialty distribution, environmental, building materials, industrial textiles, transportation/logistics, chemicals, industrial outsourcing, and engineered components. Blue Point will not invest in real estate, restaurants, retail, or companies operating in highly regulated industries. Blue Point Capital Partners was formed in 1990 and has offices in Cleveland, Ohio; Charlotte, North Carolina; and Seattle, Washington.


DEAL STATS #
Overall 27 of 54
Sector: Consumer Products M&A 3 of 5
Type: Recapitalization M&A Deals 8 of 17
State: Massachusetts M&A 2 of 3
Country: United States M&A 25 of 50
Year: 2014 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-22 OrthoLite

Amherst, Massachusetts, United States

OrthoLite is a manufacturer of branded open cell foam insoles and other footwear components supplied to over 250 footwear brands. OrthoLite was established in 1997 and is headquartered in Amherst, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-21 Callison Architecture

Seattle, Washington, United States

Callison is a professional architectural and design ('A&D') firm, providing a full suite of services including architecture, interior, and graphic design across a variety of markets, such as retail, mixed-use, corporate, hospitality, and healthcare. Headquartered in Seattle, WA, the Company has developed a rapidly growing international presence, having completed a number of projects in Asia, Europe, and the Middle East. Callison maintains satellite offices in New York City; Los Angeles; London, England; and Shanghai, China, and employs 600 people, including over 450 experienced principals and design professionals.

Sell -

Seller(S) 2

SELLER

Incline Equity Partners

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1982
PE ASSETS 5.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Incline Equity Partners is a private equity firm focused on lower middle-market growth companies. The Firm targets companies located in the US and Canada with enterprise values ranging from $25 to $750 million. Prospective transaction types include buyouts, minority recapitalizations, and corporate divestitures. Incline Equity Partners was formerly known as PNC Equity Partners. The Firm is based in Pittsburgh.


DEAL STATS #
Overall 16 of 43
Sector: Consumer Products M&A 1 of 2
Type: Recapitalization M&A Deals 2 of 3
State: Massachusetts M&A 2 of 3
Country: United States M&A 15 of 42
Year: 2014 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-10 Hartland Controls

Rock Falls, Illinois, United States

Hartland Controls LLC is a provider of electrical system components to the heating, ventilation and air conditioning market, as well as other industrial end markets. Hartland Controls was founded in 2002 and is based in Rock Falls, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-25 apexanalytix

Greensboro, North Carolina, United States

apexanalytix is a provider of supplier management, audit, recovery, and compliance software, and services. apexanalytix was founded in 1988 and is based in Greensboro, North Carolina.

Sell -
SELLER

Audax Private Debt

New York, New York, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 5.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Mezzanine is the mezzanine finance arm of the Audax Group. The Firm focuses on investing in both private and public, US-based middle market companies with a strong history of cash flows and consistent revenue growth. Audax will consider subordinated mezzanine debt commitments, second lien or junior secured debt, preferred stock and common stock. The Firm seeks to invest in companies with EBITDA between $10 and $100 million. Types of transaction include MBOs, LBOs, growth capital financings, acquisition financings, and recapitalizations. Audax Private Debt is based in New York, New York.


DEAL STATS #
Overall 28 of 53
Sector: Consumer Products M&A 1 of 2
Type: Recapitalization M&A Deals 2 of 4
State: Massachusetts M&A 4 of 5
Country: United States M&A 28 of 53
Year: 2014 M&A 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-06 ISG Holdings

Farmington, Connecticut, United States

ISG Holdings, Inc. (“ISG”) was formed to build a workers’ compensation focused company that offers a suite of products and services to help contain the medical costs related to workers’ injury claims.

Sell $225M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-07 SafeWorks

Seattle, Washington, United States

SafeWorks LLC is a manufacturer and distributor of powered suspended access and safety solutions for a wide variety of energy, infrastructure, construction and restoration industries.

Sell -