22 July 2019
Paragon facilitates the succession of pro optik as new majority shareholder and provides capital for future growth
The founders of pro optik sell the majority of pro optik to the Munich based investor Paragon.
Peter Hoppert, co-founder of pro optik, says: “With Paragon we found a highly experienced and reliable investor that ensures the continuity and further expansion of pro optik”. Paragon provides capital for further growth and will work together with the management to realize the expansion strategy in the coming years.
Marco Attolini, managing partner at Paragon, says: “We are excited to support the management and employees of pro optik as a reliable majority owner by investing into future growth and the sustainable development of the company.”
The two founders, Rainer Hildebrandt and Peter Hoppert, will continue to hold a financial interest in pro optik. “A trustful relationship to our franchise partners is of great importance to us. Therefore, we will remain financially committed to pro optik, will support the new owner in an advisory role and will be available to our partners as trusted contacts,” says Hildebrandt.
The closing of the transaction is subject to customary merger control approval, which is expected by the end of August.
About pro optik
Since its foundation in 1987, pro optik has grown from a single store company to the third largest optician chain in Germany. In 2018, pro optik generated revenues of €125m. The chain currently spans a network of 145 stores in Germany. Recently the company added hearing aids to its offering.
Paragon is one of the leading independent private equity firms in Europe with more than €1.2 billion of equity under management. Paragon works closely with portfolio companies to achieve sustainable growth and operational excellence. The investment portfolio covers various industries and currently comprises 12 companies. Paragon was founded in 2004 and is based in Munich, Germany. For further information please refer to www.paragon.de.