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BPM exited its investment in the largest Baltic optics retail chains operator OC Vision

25 May 2021

BPM Mezzanine Fund exited its investment in the largest Baltic optics retail chains operator OC Vision.

BPM Mezzanine Fund SICAV-SIF, SCA (BPM) invested in OC Vision to support the management team in the buy-out of the company back in May 2016. OC Vision attracted financing from Altum Covid-19 Fund in April and Altum’s investment was used to refinance existing investors, involving BPM.

Commenting on the deal, Partner of BPM Capital, Mr. Martin Reinson, noted that we were pleased to work with the Company for 5 years and have appreciated the Company’s effort in expanding the business, as well as steering it through the Covid-19 storm, which had significant impact on the retail sector. We wish the Company all the best for the future and are confident that OC Vision will continue on the top of the Baltic optics retail market with the backing of Altum’s Covid-19 Fund. It is good to see Altum’s Covid-19 Fund as a new investor in the market, who is ready to take bold steps and act fast.

Gatis Kokins, Member of the Board at OC Vision, added: “it was a pleasure to work with BPM, they were flexible, fast and professional. Those qualities are extremely important in turbulent times, such as the last year of Covid-19. I hope we can cooperate again in the future.”

For further enquiries, please contact:

BPM Capital: Martin Reinson, tel: +372 605 0072, e-mail: martin.reinson@bpmcapital.eu

OC Vision: Gatis Kokins, tel: +371 2920 9799

More information about BPM Capital

BPM Capital (www.bpmcapital.eu) is an independent investment manager operating out of two offices, in Tallinn and Warsaw. It has been founded and is managed by Kalmer Kikas, Martin Reinson, Paweł Zabrzycki and Priit Veering. BPM is supported by prominent international and domestic institutional investors. BPM was originated through the Baltic Innovation Fund initiative created by cooperation between Estonia, Latvia, Lithuania and the European Investment Fund. Portfolio companies include MarkIT, OC Vision (exited), DEAC (exited), Eskaro (exited), Corle, Tahe Outdoors, DenEesti, Smiltenes Piens (exited), iDS, and Zoo Factory.

More information about OC Vision

OC Vision is leading optics retail chain operator in Latvia and Lithuania with shops operated under brands Vision Express, Optio, Vizionette and Lornete.

 


 

10 June 2016

BPM Mezzanine Fund provided financing for the MBO of the leading Baltic eye care chain operator Optometrijas
centrs (“Vision Express”, "Pasaules Optika", “Optio” and "Lornete" stores).


BPM Mezzanine Fund SICAV-SIF, SCA (BPM) has provided financing for the management buy-out (MBO) of SIA
Optometrijas centrs ("Optometrijas centrs"). The transaction represents a buy-out of majority ownership held by a
number of private individuals and adjusting financing structure of Optometrijas centrs to pursue further
acquisitions for market consolidation in the Baltics. Optometrijas centrs is the leading eye care chain operator and
eye care products and instruments wholesaler in the region, managing stores in Latvia and Lithuania under the
brands Vision Express, Optio, Pasaules Optika and Lornete, as well as internet stores under the brand of dr.Lensor.
Established in 1992, the company has built a very strong foothold in the Baltics over the years.

Commenting on the deal, the CEO of Optometrijas centrs, Mr. Janis Dzenis, noted that the buy-out of the group of
private individuals holding majority stake, was a logical step in the development of the company. “We are grateful
to the exiting shareholders, who historically were with us on this journey for nearly 25 years. This transaction is an
important step towards consolidating the Baltic eye care retail market as attraction of strong financial partner BPM
enables us to pursue more aggressive growth strategy in Baltics via M&As as well as via organic expansion"

“It is an excellent opportunity for us to support the growth of Optometrijas centrs and back further consolidation of
the market. We believe in the management team, who has developed the company into a market leader in the
Baltics. We also consider the market to be very attractive with its countercyclical characteristics. The investment
fits well in BPM’s portfolio due to its growth potential and pan-Baltic operations,” said Martin Reinson, Partner of
BPM Capital.

For further enquiries, please contact:
BPM Capital: Martin Reinson, tel: +372 605 0072, e-mail: martin.reinson@bpmcapital.eu
Optometrijas centrs: Toms Dzenis, tel: +37129123351 e-mail: toms.dzenis@optika.lv

More information about BPM Capital

BPM Capital (www.bpmcapital.eu) is an independent investment manager operating out of two offices, in Tallinn
and Warsaw. It has been founded and is managed by Kalmer Kikas, Martin Reinson, Paweł Zabrzycki and Priit
Veering. BPM is supported by prominent international and domestic institutional investors. BPM was originated
through the Baltic Innovation Fund initiative created by cooperation between Estonia, Latvia, Lithuania and the
European Investment Fund.

More information about Optometrijas Centrs

Optometrijas centrs is a retailer and wholesaler of eye care products in Latvia and Lithuania. It is managing retail
chains under brands Vision Express (www.visionexpress.lv), Optio (www.optio.lv), Pasaules Optika
(www.pasaulesoptika.lv) and Lornete and it has 68 shops in the region, as well as 2 internet stores under the brand
dr. Lensor in Latvia and Lithuania. Optometrijas centrs has established itself as a market leader in the Baltics with
total sales of 15.8 mEUR.

Our offices

tallinn

Estonia

Roosikrantsi 11, 10119, Tallinn
Phone +372 605 0073
info @ bpmcapital.eu
poland

Poland

Zajęcza 15, 00-351, Warsaw
Phone +48 22 244 11 09
pawel.zabrzycki @ bpmcapital.eu
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