OPTICAL PRISM | GLIMPSES
EQUISTONE SELLING ESCHENBACH OPTIK TO INSPECS GROUP
Funds advised by Equistone Partners Europe have agreed to sell their majority stake in Nuremberg-based Eschenbach Holding GmbH .
Eschenbach is a German leader in eyewear and low-vision products , offering correction frames , and ready-to-wear sunglasses , with further strong positions in Europe and the US .
Eschenbach will be an even stronger player together with the British Inspecs Group plc , based in Bath and listed in London . The financial terms of the transaction are undisclosed and the transaction remains subject to approval from the relevant competition authorities and fulfilment of conditions precedent .
Founded in 1913 , Eschenbach Optik has developed into a global market leader for optical vision aids and one of the globally leading designers of branded glasses and optical products .
Inspecs was founded by Robin Totterman in 1988 and is a designer , manufacturer and distributor of eyewear frames and lenses . The Group produces a broad range of frames , 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 ).
MARCHON PARTNERS WITH EASTMAN
Marchon Eyewear has announced an industry-first partnership with Eastman , a global specialty materials company .
Marchon will be the first eyewear company to produce and sell frames using Eastman Acetate Renew , a fully sustainable material that will be used in Marchon ’ s proprietary and licenced brands frames .
“ We are very proud to announce our partnership with Eastman ,” said Nicola Zotta , president and CEO of Marchon Eyewear , Inc . “ As the first eyewear manufacturer to collaborate with Eastman , this relationship will be beneficial for us , as it will significantly reduce waste and greenhouse gas emissions , while maintaining our commitment to safety and sustainability without compromising the quality of our frames .”
Eastman will use their innovative carbon renewal technology , a process which is capable of recycling some of the most complex plastic waste , including non-polyester plastics and mixed plastics that cannot be recycled with conventional recycling technologies . Through Eastman ’ s innovative recycling technology , the scrap from Marchon ’ s manufacturing of acetate frames can be diverted from landfills and used to produce new sustainable acetate for premium eyewear .
“ The successes we achieved during our partnership as well as a very positive 2019 financial year and a new fiveyear growth strategy form an ideal basis for Eschenbach ’ s continued , successful development . Joining forces with Inspecs will provide Eschenbach with an additional boost of momentum to reliably strengthen its global market position and to write a new chapter of its success story ,” says Dr . Marc Arens , managing director and partner at Equistone ’ s Munich office .
A milling machine creates a pair of acetate frames at Marchon Eyewear .
OPTICAL PRISM | January 2021 35