- Sherpa Capital, a private equity firm specializing in investments in mid-sized companies in the Iberian market, has completed its stage in INDO with the completion of its project in the company and has closed an agreement for the sale of its minority stake to Rodenstock Group, a company owned by Apax Partners. This transaction is part of the sale by Ergon Capital Partners, until now the main shareholder of the ophthalmic lens company, which together with Sherpa Capital and Oquendo Capital - minority shareholders - have agreed to transfer their shares to Rodenstock, which thus becomes the majority shareholder of the company.
Sherpa Capital became a shareholder of INDO in 2014 at a time when the company was facing financial and business difficulties. The private equity firm worked together with INDO's management team to implement a new strategy for the company's business and maintained its majority stake until 2018, when it sold part of its shares to Ergon Capital Partners at a time when INDO, following the implementation of an ambitious business strategy, had been revitalized and was facing a new phase of growth. Since Ergon Capital's entry as majority shareholder in 2018, Sherpa Capital has retained 20% of INDO's capital. In this second stage, Sherpa Capital has continued to support the main shareholder and the firm's management team to help them achieve the proposed objectives, goals aligned with Sherpa Capital's initial proposal for the company, focused on maximizing its value and creating a positive return for all its shareholders.
During these years, INDO has recorded strong growth, outpacing the market, in the areas where it is present, expanding its customer base and positioning itself as one of the most prominent players in the industry. In addition, the company has devoted significant resources to modernizing its production plants with the implementation of new technologies and has launched new products and innovative solutions for its customers. It has also seen a significant increase in customer satisfaction, which has driven the company to increase its market share.
Founded in 1937, INDO is the leading independent Spanish manufacturer of ophthalmic lenses and one of the largest distributors of optical and ophthalmic material. The company employs 440 people in Spain, Morocco, Portugal and France, and has two modern plants in Barcelona and Tangiers.
Fernando Aguado, Operating Partner at Sherpa Capital, said: "At Sherpa Capital we are closing our stage in INDO at a very positive time for the firm. We are pleased to see that, after working together with the management team and the rest of the shareholders, the company has managed to revitalize itself and make the most of its potential within the sector. We are proud to be able to share a part of these positive results and to have been able to contribute our experience and knowledge to such a challenging and interesting project that has become an example of success.”
About Sherpa Capital:
- Sherpa Capital is the leading private equity firm in Iberia specializing in investments in mid-sized companies that face strategic challenges, both growth and operational, and that have great potential to generate value through business improvement processes.
It has its own management and value creation model that is unique, sustainable and differential in its sector. The firm has more than 10 years of experience in the sector and has more than 500 million assets under management. It is made up of more than 35 professionals of recognised standing in the industry who work together with all the investee companies.