The American company Hilco Vision has acquired I Need You (INY), a Hamburg-based provider of premium reader glasses. The acquisition became effective on Oct. 30. INY was founded by the Gellermann family in 1993.
INY founder, Uwe Gellermann, and the company’s joint managing director, Neele Schierholz, will continue to be part of Hilco Vision, working with its European managers, Frank Thiel and Bernd Pigorsch.
Gellermann said that after expanding in Germany and throughout Europe, the partnership with Hilco Vision will enable INY to continue growing and find new customers globally. While, Hilco Vision noted that it has continued to build up its European presence since the acquisition of the German company Breitfeld & Schliekert in 2015.
Hilco Vision is a U.S. distributor of branded and consumable professional eyecare products and optical accessories. It has over 40,000 clients, consisting primarily of smaller, independent eyecare providers and optical retail chains, as well as laboratories, non-optical customers and other clients. It has direct subsidiaries in the U.S., Canada, China, the U.K., Germany, Austria and the Netherlands.
Last year, the U.S. private equity company, Windjammer Capital Investors, acquired Hilco Vision in partnership with its management from Blue Point Capital Partners.