Inspecs Group acquires Ego Eyewear

Bath-based group Inspecs has completed the 100 percent acquisition of Ego Eyewear Limited, a design and licensing company for premium fashion brands.

Agreed upon for an initial consideration of 6.175 million pounds, the acquisition will also include Ego’s operating subsidiaries and design houses in Sweden and Hong Kong. The company uses third-party eyewear manufacturers to produce its products, with licensed brands including Barbour, Liberty of London, Viktor & Rolf and Henry Lloyd, as well as a number of Nordic brands.

Ran by second-generation eyewear specialists Ronald and Johanna Gezang, Ego’s main distribution channels are through major optical chains.

A deferred review was presented in consideration of performance over the next three years. According to Inspecs, Ego is expected to have a revenue of 8.9 million pounds for the year ending December 31, 2021. It further expects the acquisition to be earnings enhancing for 2022.

A flurry of acquisitions

“We are pleased to bring Ego into the Inspecs Group to further develop our brand portfolio and add to our Scandinavian offering, where we believe there are considerable opportunities for us,” said Inspecs CEO, Robin Totterman, in a statement. We have known Ronald and Johanna for a number of years and watched as they have successfully developed Ego into a significant player in the Nordic region, Japan and the UK. Both parties were able to see the value that Inspecs brings to the continued development of global sales. Ego’s design studio in Stockholm adds to our existing teams in the UK, Portugal, Hong Kong and New York. We look forward to working with the new members of our group in 2022.”

The manufacturing group acquired eyewear supplier Eschenbach, in December 2020, which included the American optical design house Tura in its takeover. This followed an added acquisition of lens maker Norville, earlier in the year, putting the group in the market for Britain’s Savile Row.

The flurry of acquisitions are part of Inspecs three-part growth strategy, with the goal of growing organically, undertaking acquisitions that drive its value through leveraging internal capabilities and extending the group’s manufacturing capacity.