News
PNC Equity Partners, L.P. Acquires C-Clear Inc. Division of Shannon Optical
(October 10, 2008) PNC Equity Partners, L.P., announced today their acquisition of the C-Clear Inc. division of Shannon Optical Co., Inc., located in Bridgeville, PA, the Fifth add-on acquisition to its investment in Hilsinger Holdings, Inc. C-Clear is a leading manufacturer and distributor of industrial safety eyewear care products. Headquartered in Plainville, MA, Hilsinger Holdings, Inc ("Hilsinger") distributes the industry's broadest line of optical and ophthalmic products with over 20,000 products that are primarily sold under several well-recognized brand names. Hilsinger sells its products through numerous independent opticians, optometrists and ophthalmologists, optical chains, independent distributors, mass merchants and other retailers located in North America and Western Europe.
"The C-Clear acquisition expands Hilsinger's industrial safety product line and adds another strong brand name to Hilsinger's portfolio. In addition, C-Clear's existing relationships with industrial safety equipment distributors opens up a new distribution channel opportunity for Hilsinger, " said Wali Bacdayan, Partner of PNC Equity Partners.
Bob Nahmias, CEO of Hilsinger stated, "We believe C-Clear's product line nicely compliments our current product offering and will help us to continue to grow our industrial eyewear and eyecare business."
Based in Pittsburgh, Pennsylvania, PNC Equity Partners (www.pncequity.com) specializes in making private equity investments of $10 million to $30 million in leveraged buyouts, recapitalizations and large minority financings of middle market companies. PNC Equity Partners focuses on equity investments in middle market companies with enterprise values between $25 million and $125 million and traditionally targets companies that operate in the niche manufacturing, value-added distribution, and outsourced services industries.
