Ergon Capital buys a majority stake in Indo Optical

The Spanish firm's management team, which has been ratified in its position, considers that it has found a capital investor with exceptional international scope


Ergon Capital Partners has reached an agreement to buy a majority holding in Indo Optical from Sherpa Capital, which will retain a minority stake. The deal will allow the Spanish company to undertake a new phase of growth, which will be based on the international experience of its new investor partner.


With a history dating back to 1937, Indo is a manufacturer of ophthalmic lenses and distributor of optical and ophthalmological equipment. It headquarters are located in Sant Cugat del Vallès (Barcelona) and it has plants in El Papiol (Barcelona) and Morocco. It employs 350 people and has a growing market in North Africa. In recent years it has improved its sales results and profitability, which has helped it achieve the financial soundness and stability to allow it to address new challenges.

Partner and director of Ergon Capital Advisors Spain, Emanuele Lembo, explains: "We are very enthusiastic about the possibility of helping the management team in its growth plan and we hope to work with them to expand the company both in Spain and at international level in the coming years."



Unique strategic position
"Indo is a leading company in Spain, with a track record of more than 80 years and an excellent reputation," explains Pablo Álvarez Couso, Director of Ergon Capital Advisors Spain. "The ophthalmological sector is very attractive and Indo has a unique strategic position."

The CEO of Indo, Jean Luc Morabito, who has already been ratified in his position together with his management team, adds: "The management team and all the Indo staff are very enthusiastic about having Ergon as a new investor. Together we will continue to search for organic and inorganic growth opportunities for the company. In Ergon, we are convinced we have found a capital investor with an exceptional international scope. It is the right partner to drive Indo's move into a new growth phase."

Finally, the CEO and Executive President of Sherpa, Eduardo Navarro, explained: "We are convinced of Indo's great potential, and that Ergon is the best partner to take the company to the next level. Indo has a unique strategic positioning in a very attractive sector, and we're delighted to be working together with Ergon and Oquendo in this new phase."