Inspecs, a Bath-based company, has acquired Ego Eyewear Limited in 100 percent. This is a design and licensing firm for premium fashion brands.
The acquisition was agreed upon for an initial consideration amounting to 6.175 million pounds. It will also include Ego’s operating subsidiaries and design offices in Sweden and Hong Kong. Third-party manufacturers are used to manufacture the company’s products. These include licensed brands such as Barbour, Liberty of London and Viktor &. Rolf and Henry Lloyd are among the many Nordic brands.
Ego was founded by Johanna Gezang and Ronald Gezang, second-generation eyewear experts. Its major distribution channels are major optical chains.
In consideration of the performance over the next three year, a deferred review was submitted. Inspecs estimates that Ego will generate 8.9 million pounds in revenue for the year ending December 31, 2021. The acquisition is expected to increase earnings for 2022.
There was a flurry acquisitions
Robin Totterman (Inspecs CEO) stated that Ego will be joining the Inspecs Group in order to expand our brand portfolio and to add to our Scandinavian offering. “We are happy to bring Ego into Inspecs Group to enhance our brand portfolio, and to add to our Scandinavian offerings, where we believe there is considerable opportunity for us.” “For many years, we have been friends with Johanna and Ronald. We’ve watched their success in developing Ego into a major player in the Nordic region as well as Japan and the UK. Both sides were able to recognize the importance of Inspecs in the development and expansion of global sales. Ego’s Stockholm design studio is an addition to the existing teams in New York, Portugal, Hong Kong, and UK. We are looking forward to working together with the new members in our group in 2022.”
In December 2020, the manufacturing group purchased eyewear supplier Eschenbach. This acquisition also included American optical design house Tura. The acquisition of Norville lens manufacturer, which was made earlier in the year, put the group on the market for Britain’s Savile Row.
Inspec’s three-part growth strategy includes acquisitions. The acquisitions are part Of Inspec’s flurry of activity. It aims to grow organically and make acquisitions that increase its value by leveraging internal capabilities, as well as expanding the group’s manufacturing capacity.