NPM Capital has sold its majority interest in Optelec Holding BV to the US-based tech investor Vector Capital, as announced by the parties today. Under the new ownership, Optelec will merge with its US peer Freedom Scientific to become the world’s largest provider of assistive technology products for the low-vision and blind community.
Optelec plays a leading role in the development and supply of optical and electronic tools for the visually impaired. The company enables people with visual impairments to function as independently as possible in educational, professional and home environments. In designing and manufacturing its products, the highly innovation-driven company makes maximum use of the latest technological advances in mainstream electronics.
NPM Capital has held an interest in Optelec since 1992, and over the decades the company has evolved steadily and grown considerably, including through a number of acquisitions. Optelec’s CEO Maarten Bosch, commenting on the transaction: “NPM has proven to be a solid and stable investor that is willing to invest in long-term growth. We are delighted that Vector Capital has provided us with the opportunity to take the next step. In joining forces, our two complementary companies will be able to offer the broadest product portfolio in the industry, along with an unmatched worldwide distribution network.”
NPM’s Senior Investment Manager, Jeroen Dikker Hupkes, called Optelec’s prospects under the new ownership “very promising”, underscoring that Optelec has proven its ability to achieve consistently strong results even when faced with changing market conditions. “Optelec has managed to remain the market leader on the strength of a balanced geographic spread and distribution of a highly comprehensive and up-to-date product portfolio. In emphasising service and high-quality products, the company has laid a solid basis for continued growth. This growth can now be optimised under the banner of a technology focused partner such as Vector Capital.
In merging with the other market leader, the new organisation has become the leading global provider of assistive technology products for the visually impaired,” Dikker Hupkes said.
In addition to NPM Capital’s majority interest, Vector Capital has acquired the other shares in Optelec. The newly merged holding company will retain the individual Optelec and Freedom brands and product portfolio.