Windjammer Capital Acquires Hilco Vision to Expand Ophthalmic Healthcare Portfolio

On September 17, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that U.S. venture capital firm Windjammer Capital (Windjammer) announced the acquisition of eye care company Hilco Vision (Hilco). No financial terms of the acquisition were disclosed.

Hilco, established in 1956 and headquartered in Massachusetts, USA, is a global leader in the distribution of eye care products. The company is dedicated to manufacturing professional eye protection products and optical accessories, boasting a diverse product portfolio. Hilco has built an extensive distribution network to provide customers with one-stop services.

It is reported that Hilco completed a $60 million financing round led by American Capital in May 2004.

Leveraging its superior operational platform, Hilco develops user-friendly and easy-to-use products to provide customers with comprehensive eye care solutions. The company has established wholly-owned subsidiaries in the United States, Canada, the United Kingdom, Germany, Australia, China, and the Netherlands, delivering high-quality products to over 40,000 customers through various distribution channels. Hilco’s primary customer base includes independent eye care product suppliers, optical retail stores, ophthalmic laboratories, and other distributors.

Hilco’s products and services are primarily focused on five areas: vision testing instruments, vision protectors, consumer accessories, lens care, and eye care. Additionally, the company has developed a series of analgesic, anti-inflammatory, anti-edema, antiviral, and anesthetic medications to treat ophthalmic conditions such as glaucoma and ocular allergies.

It is understood that Hilco’s ophthalmic products, including TobraDex eye drops, neomycin-polymyxin B-dexamethasone ointment, and dexamethasone suspension, demonstrate robust anti-inflammatory efficacy. Additionally, the company has developed acetazolamide SDV for intravenous injection, brimonidine tartrate ophthalmic solution, Miostat Drop, and levobunolol hydrochloride 0.5% ophthalmic solution, which are primarily indicated for the treatment of glaucoma and ocular hypertension.

Windjammer, founded in 1990 and headquartered in California, USA, is a venture capital and private equity firm. The company boasts an experienced investment management team that primarily focuses on acquisitions and strategic investments in small and mid-sized enterprises. Currently, Windjammer manages over $3 billion in assets and has acquired more than 50 platform companies and startups to date.

Hilco CEO Ross Brownlee stated, “Windjammer is the ideal partner for Hilco. Its financial support and strategic guidance will help us scale our operations and further expand our ophthalmic care product distribution business. Upon completion of this acquisition, Hilco will begin implementing the next phase of its development plan.”

Matt Anderson, General Manager of Windjammer, stated, “We welcome Hilco’s addition. Hilco holds a leading position in the ophthalmic healthcare products market and maintains stable, long-term partnerships with its customers. Ross and his team are committed to providing diversified products and services to meet market demands and advance the field of eye care.”

(Compiled by Xu Xiaoxue)