Vinge advised Inspecs Group on the deal.
Inspecs Group plc has acquired 100% of Ego Eyewear Limited and its operating subsidiaries in Sweden and Hong Kong for an initial consideration of £6.175m and a deferred consideration partly based on performance over the next 3 years. Ego is expected to have revenue of £8.9m for the year to 31 December 2021 (2020: £3.4m), and Inspecs expects the acquisition to be earnings enhancing for 2022.
Ego Eyewear is based in Stockholm, with additional operations in London, Osaka and Hong Kong. Ego’s licensed brands include Barbour, Liberty of London, Viktor & Rolf, Lyle & Scott, Henry Lloyd and Joseph, and Nordic brands Ivana Helsinki, Valerie and Day, and its main distribution channel is through major optical chains. Second generation eyewear veterans Ronald and Johanna Gezang run the company.
INSPECS is a Bath-based designer, manufacturer and distributor of eyewear frames and optically advanced spectacle lenses. The Group produces a broad range of frames and lenses, covering optical, sunglasses and safety, which are either “Branded” (either under licence or under the Group’s own proprietary brands), or “OEM” (including private label on behalf of retail customers and un-branded).
The Vinge team included partner Christina Kokko (picture), counsel Ulrich Ziche, associates Nina Gransäter, Robin Fagerström, Ebba Nyberg, Isabell Nielsen, Veronika Garemark, Rebecka Målquist, Ulf Pyk and paralegals Jessica Henning and Sara Dahlros Sköld, Counsel Maria Schultzberg and associate Karl-Gustaw Tobola.
Involved fees earner: Robin Fagerström – Vinge; Veronika Garemark – Vinge; Nina Gransäter – Vinge; Christina Kokko – Vinge; Rebecka Målquist – Vinge; Isabell Nielsen – Vinge; Ebba Nyberg – Vinge; Ulf Pyk – Vinge; Maria Schultzberg – Vinge; Karl?Gustaw Tobola – Vinge; Ulrich Ziche – Vinge;
Law Firms: Vinge;