The Global Mid-Market Specialist
Frankfurt/Munich – Alantra, a leading global investment banking and asset management firm, has advised founders and Managing Directors Rainer Hildebrandt and Peter Hoppert on the sale of OC Office Consult GmbH & Co. KG, parent company of Germany’s third largest optician chain “pro optik” (hereinafter referred to as “pro optik”), to Paragon Partners GmbH and Hannibal Zemariam in a management buyout for an undisclosed amount. Zemariam is currently the third Managing Director of pro optik and will be the future CEO of the company. The transaction is still subject to customary merger control approval.
Since its foundation in 1987, pro optik has grown from a single store company to the third largest optician chain in Germany, outranked only by competitors Fielmann and Apollo. In 2018, pro optik generated revenues of € 125m. The chain currently spans a network of 145 stores in Germany that is built on a successful partnership model, offering the options of either being a joint venture or a 100% franchise partner. The product range of pro optik includes both branded designer frames as well as value-for-money private label frames in combination with high-quality lenses, selling around 400,000 spectacles per year. Recently the company added hearing aids to its offering.
Alantra acted as sole M&A advisor to the founders and current shareholders and ran an international auction process involving both strategic investors and private equity firms.
“Finding the right succession solution for a company that you have founded yourself, grown to one of the market leaders and led for more than 30 years, is a major task and a great responsibility. We are glad to have had Alantra at our side in this project from a professional as much as from a personal perspective”, said co-founder Rainer Hildebrandt. Peter Hoppert (co-founder) added: “Alantra’s professional advice, their team’s understanding for the needs of mid-market entrepreneurs and the very satisfying result of the M&A process confirms that we have made the right decision when we mandated Alantra.”
Christoph Handrup, Managing Director at Alantra, continued: “Handing over your entrepreneurial life’s work is an emotional challenge and we feel honored that Mr. Hildebrandt and Mr. Hoppert have entrusted us in supporting them with this task. It was a pleasure working with them and the extended management team. We are happy that we have been able to find the right solution for them that will lead pro optik into a bright future.”
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