LONDON - The private equity firm CVC Capital Partners said on Tuesday that it has acquired Synsam Nordic, an optical retailer in the Nordic region, from an investment group controlled by the family behind the Swedish furniture retailer Ikea.
The sale comes about seven years after Synsam was acquired by a group of former store owners and Alipes, an investment firm sponsored by Ikano and Inter Ikea. The Kamprad family controls the furniture retailer as well as Ikano and Inter Ikea.
Terms of the deal weren’t disclosed.
Synsam was founded in 1968 when a group of independent opticians began operating under a common brand name. The company now has more than 420 stores and franchises in Sweden, Denmark and Norway, selling glasses and contact lens and providing eye examinations.
“Synsam is our oldest portfolio company and we are proud of having worked together with former store owners and an excellent management team to develop it from a voluntary retail chain to the leading integrated optical retail chain in the Nordic,†said Gunnar Selving and Richard Silén, partners at Alipes.
The transaction is subject to regulatory approval.
In 2013, Synsam posted revenue of 3 billion Swedish kronor, or about $470 million, and employed about 2,600 people.
“With attractive market positions, a strong brand name and an extensive store network as well as an emerging online offering, Synsam is now ready to take the next step in its development,†said Peter Törnquist and Søren Vestergaard-Poulsen, partners at CVC.
