Overview

Under 3i’s ownership, nexeye has become the value-for-money leader in the North-West European optical retail market operating under the Hans Anders, eyes + more and Direkt Optik labels with group headquarters in the Netherlands. nexeye provides affordable, high-quality eye and hearing care to customers across 719 stores in the Netherlands, Belgium, Germany, Austria and Sweden, offering a range of private label and branded products in a market with long term macro-growth drivers. 

Under 3i’s ownership, nexeye pursued an organic and buy and build growth strategy and championing a value-for-money offering for customers. 3i generated proceeds of c.€481 million by the time of its exit in 2024 with 2.1x MM.

Highlights

• Transformed the business from a local optical discounter to the value-for-money leader
• Doubled sales and EBITDA during our ownership
• Acquired eyes + more in 2019, adding Germany as a key growth market, and more than doubled eyes + more’s store footprint in Germany
• Invested in new stores, refurbished the existing network, strengthened the team and transformed the digital infrastructure to a best-in-class setup
• Recruited and partnered with the newly recruited CEO and CFO through our Business Leaders Network
• Re-focused the business model towards digitally generated appointments, accelerated digital marketing and CRM capabilities and driving store productivity through digital planning

Regulatory information 
This transaction involved a recommendation of 3i Investments plc, advised by 3i Benelux.