18th Mar 2024 11:31
(Alliance News) - Oakley Capital Investments Ltd on Monday said medical software provider Horizon Optical Slu will be acquired by Oakley Capital Origin Fund I.
Bermuda-based Oakley Capital Investments provides access to the private equity investments of Oakley funds. It said the Origin Fund will acquire a majority stake in the Barcelona-based company for an undisclosed price. Oakley Capital Investments will contribute an investment of GBP9 million.
Orgin Fund will purchase the shares currently held by Madrid-based Sherpa Capital SA. Horizons Optical Chief Executive Officer Santiago Soler will retain "a significant share" in the company and will continue to lead it into the future.
Horizon's software is used by independent laboratories to manufacture bespoke lenses that can correct a range of eye conditions including short, mid- and far-sightedness as well as astigmatism, all in one lens. 10 million lenses were produced around the world using this technology in 2023.
This investment is reflective of Oakley's strategy of partnering with founder-led, entrepreneurial businesses to foster growth and innovation, it said.
Oakley Capital Investments Managing Partner Peter Dubens said: "Horizons Optical has all the hallmarks of a typical Oakley deal: a disruptive market leader, with strong software IP and led by an exceptional management team. We look forward to working with Santiago to help the business realise its full potential."
Shares in Oakley were up 1.1% to 462.00 pence in London on Monday morning.
By Elijah Dale, Alliance News reporter
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