Funds advised by Sherpa Capital Sherpa Capital Entidad Gestora Sgeic S.A. ("Sherpa") have reached an agreement with Ergon Capital Partners III (“Ergon”) to sell a majority stake of Indo Optical S.L.U. ("Indo"). Sherpa will maintain a minority stake in the company along with Ergon, Oquendo III (SCA) SICAR ("Oquendo") and the management team.
Founded in 1937, Indo is the leading independent Spanish manufacturer of ophthalmic lenses and one of the largest distributors of medical equipment for the optical and ophthalmologic sector. In addition to its position in the domestic market, the company has sustained a consolidated presence in North Africa for more than two decades, mainly in Morocco, a market with great potential. Indo operates within a sector in constant expansion due to a growing demand, anchored in solid fundamentals and, thus, the company offers significant future growth potential, both organic and through corporate acquisitions.
Eduardo Navarro, CEO of Sherpa, said: “We are convinced that Indo has great potential and that Ergon is the right partner to take the company to the next level.Indo has a unique strategic positioning in a very attractive sector and we are delighted to work together with Ergon and Oquendo in this new stage.”
Headquartered in Sant Cugat del Vallès (Barcelona, Spain) Indo is the leading Spanish manufacturer of ophthalmic lenses and medical equipment distributor for the eye care sector,Fundamentally, the company operated in two complementary business areas:(i) production of ophthalmic lenses, which are mainly sold to independent optical stores and leading optical retail chains ; and (ii) distribution of optical and ophthalmologic equipments, where the Company ’s product offering is one of the widest in the Spanish market.Indo employs approximately 350 people and operates two state-of-the-art plants located in Spain (El Papiol/Barcelona) and Morocco (Tanger).For more information on Indo visit www.indo.es
Ergon is a private equity investment company with about €1.0 billion under management backed by family-controlled Groupe Bruxelles Lambert, through its fully owned subsidiary Sienna Capital, as cornerstone investor, and selected European institutional investors.For more information on Ergon Capital Partners visit www.ergoncapital.com