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P&M Corporate Finance (“PMCF”) is pleased to announce that it served as exclusive financial advisor to SVS Vision (“SVS” or the “Company”) in its sale to Fielmann Group (FIE.DE).
SVS Vision is an eye care solutions provider based in Mt. Clemens, Mich and was founded in 1974. The Company operates more than 80 locations across 9 states and is one of the nation’s leading optical retailers. SVS leverages the latest technology and industry-leading professionals to manufacture approximately half a million glasses each year at the Company’s state of the art, in-house laboratory. In addition, SVS offers fully insured managed care plans. The Company has a long history of retaining its talent, with over half of its 650 employees having been with SVS for more than 15 years.
Lukas Ruecker, CEO of Fielmann USA, Inc.: “Over its 50 years history, the Fielmann Group has shaped the European eyewear market with its signature customer centricity. SVS Vision is known for its friendly service, great people and longstanding heritage…Together, we are going to empower our customers in optical retail.”
“From the beginning of the process the similarities between SVS Vision and Fielmann were not only evident but a determining factor in selecting them as a suitor. We appreciate the camaraderie that has developed during the deal process and are excited to work together to make sure SVS Vision continues on the successful path the entire SVS Vision team has worked so hard to create,” said Ken Stann, SVS Vision President and Co-Owner.
Ken Stann noted “PMCF has served as a trusted advisor to SVS for many years, and was instrumental in achieving this outstanding outcome for the Company. PMCF’s expertise in all facets of the M&A process was shown through their ability to execute a complex international transaction. I would recommend PMCF’s services to any company looking to pursue a transaction.”
The transaction closed in August 2023. O’Melveny & Myers LLP served as legal advisor to Fielmann Group. Clark Hill PLC served as legal advisor to SVS Vision.
About SVS
SVS Vision is an optical retailer based in Mt. Clemens, Mich., USA. The company is the market leader in Michigan and operates a total of more than 80 stores across 9 states. In 2022 the privately held business employed 650 people and generated over $100 million in external sales. SVS also owns and operates its own optical laboratory and vision insurance.
About Fielmann Group
The Fielmann Group is a German family business that serves more than 27 million customers via its omnichannel platform consisting of digital sales channels and about 1.000 retail stores. Founded in 1972, it is led by Marc Fielmann, representing the second generation of the Fielmann Family who still owns the majority of the company’s stock. By making fashionable eyewear affordable and staying true to its customer-centric values, the Fielmann Group is consistently reaching customer satisfaction and retention rates of more than 90% and has to-date fitted more than 170 million pairs of individual prescription glasses. The family business employs more than 23,000 people.
About PMCF
PMCF is a client-centric middle market investment bank providing merger and acquisition advisory services to private, public, and private equity owned companies worldwide. We combine our expansive industry and transactional expertise with highly engaged, senior-level bankers to create tailored solutions for all our clients. PMCF helps clients meet their sale, acquisition, financing, and strategic growth objectives through a broad range of services, including sale advisory, acquisition advisory, capital raising, transaction planning, and strategic advisory. We have dedicated professionals focused on plastics & packaging, business & technology services, industrials, healthcare, and consumer & retail industries. Please visit pmcf.com to learn more.
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