Nov. 19, 2020 —  Equistone Partners Europe has agreed to sell its majority stake in Nuremberg-based Eschenbach Holding GmbH to Inspecs Group PLC, based in Bath and listed in London. The financial terms of the transaction are undisclosed and the transaction remains subject to approval from the relevant competition authorities and fulfillment of conditions precedent. 

"We have followed Eschenbach’s progress for some time and are pleased to be welcoming Germany’s No.1 eyewear company and its great people into the Inspecs Group," says Robin Totterman, CEO of Inspecs.  "Joining these two industry leading businesses together will create the sixth largest eyewear company in the world and enable the enlarged Group to further penetrate key global markets while also diversifying our combined customer and product portfolios. This is an exciting time for the industry and I look forward to working together."

Barclays Private Equity, the predecessor organization of Equistone, acquired Eschenbach from the founding family and a financial investor in July 2007, together with the company’s management team. Since then, Eschenbach’s turnover has increased from an initial Euro 100 million to 143 million in 2019. The strategic sale of its technical optics division in 2014 and the important acquisitions of British eyewear business International Eyewear Limited (2008) and U.S.-based eyewear brand Tura (2009) also fall within this ownership period. 

"The successes we achieved during our partnership as well as a very positive 2019 financial year and a new five-year growth strategy form an ideal basis for Eschenbach’s continued, successful development,” says Dr. Marc Arens, managing director and partner at Equistone’s Munich office. "Joining forces with Inspecs will provide Eschenbach with an additional boost of momentum to reliably strengthen its global market position and to write a new chapter of its success story."

Dr. Jörg Zobel, CEO of Eschenbach Optik, says, "During our successful partnership, Equistone has always proved to be a reliable and growth-oriented investor and partner for more than a decade. Together with Equistone we found in Inspecs the right strategic partner for our new five-year growth vision. We have ambitious goals that we can achieve together in the new group. Our dedication to German engineering and quality and the best combination of design and function will remain key pillars."