finnVentures completes an $18m equity fundraise to assist HSBC and Inspecs in the acquisition of French-Asian company, Killine Group ("Killine").
Inspecs designs, manufactures and distributes eyewear in partnership with global brands such as Superdry and O'Neill. The acquisition of Killine will help Inspecs to increase its manufacturing capacity and grow market share. The combined entity is valued at $100m and will continue to operate as Inspecs Group. It adds large scale manufacturing to its licensing, design, marketing and sales capabilities.
Commenting on the acquisition, Inspecs' CEO Robin Totterman said,
"In a global market where the two industry leaders, Luxottica and Essilor, are set to become even more dominant in the fast growing eyewear business, Inspecs Group saw an opportunity to establish itself as an independent alternative to the coporate Italian-French giant."
"The acquisition of Killine gives the new Inspecs Group access to high growth sales markets throughout Asia, boosting distribution globally."
Grant Bergman, Corporate Finance Director at finnVentures added,
"We introduced the Company to a select number of investors that we know well, and with whom we have strong relationships. It is important to match companies with the right investors that share the same ambitions. We were delighted to have helped Inspecs to raise the money they needed to continue their growth plans."