All Seas Capital backs leading UK optician’s The Hakim Group
All Seas Capital, announces its investment in Hakim Group (the “Company”), one of the UK’s leading independent optician groups, to support an acceleration in the Company’s growth.
Founded by Imran Hakim, the business has grown rapidly to support around 120 independent optician practices across the UK & Ireland, with over 1,000 employees. Hakim Group has a proven industry-leading acquisition model which has driven significant growth. It operates through a distinct joint venture partnership model, in practices alongside the optometrist or dispensing optician who runs and operates the practice. Partner practices retain their brand and identity but gain access to Hakim Group’s dedicated back-office support team and infrastructure.
All Seas Capital is working with Imran and his team to continue to accelerate the on-boarding of new partner practices and prepare Hakim Group for its next stage of growth, focusing on institutionalising and further embedding best practice within the existing business.
All Seas Capital was recently launched by Marc Ciancimino and Cristobal Cuart who co-founded and led KKR’s European mezzanine and preferred equity business. All Seas Capital provides transformational capital solutions and board level expertise to entrepreneurs who need strategic capital, but do not want to sell a majority stake.
Imran Hakim, CEO of Hakim Group, commented:
“I was very clear in my mind in what I was looking for from an investor. There were many that ticked some of those boxes, but only one that ticked them all. All Seas Capital listened to our needs and structured a deal that was moulded around mutual objectives – none of the alternative options had the same flexibility and pragmatism in their approach. Through the investment process and our initial days of working together, the team have delivered value at board level and throughout the organisation beyond my expectations. I’m confident I’ve chosen the right partner for our business and I’m looking forward to working together over the coming years.”
Cristobal Cuart, Co-Founder of All Seas Capital, commented:
“In Hakim, we are backing a thriving business with an ambitious and proven management team. All Seas Capital’s partnership approach to investment will enable and support Imran and his team to maintain their dynamic and entrepreneurial zeal. We share the same vision for the business and already have a strong working relationship, which will underpin our success as we work together to unlock the full potential of the business.”
Marc Ciancimino, Co-Founder of All Seas Capital, commented:
“We are excited to be investing in Hakim, an established and rapidly growing business with real potential to capitalise on consolidating the UK’s fragmented optician practice market. At All Seas Capital, we provide entrepreneur and family-owned mid-market businesses across Western Europe that already have a certain amount of scale, the support and capital they need as the catalyst for real business growth without the need to sell a majority stake.”
All Seas Capital was advised by Sidley and PWC, and Hakim was advised by EY, Hill Dickinson and Deloitte.
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For further information, please contact:
All Seas Capital
Gemma Braithwaite
IR Managing Director
+44 7834 319857
braithwaite@allseascapital.com
Media
Charlotte Balbirnie
+44 7989 528421
About All Seas Capital
All Seas Capital is a pan-European private capital fund that provides flexible long-term financing solutions to leading mid cap companies. The team is led by Marc Ciancimino and Cristobal Cuart who co-founded and led KKR’s European mezzanine and preferred equity business, and have an extensive career track record with €3.4bn invested across 45 businesses.
We partner with and provide transformational capital solutions and board level expertise to Western European entrepreneur- and family-owned mid-market businesses who need strategic capital, but do not want to sell majority stakes. We identify businesses that already have a certain amount of scale but are in need of support and capital as the catalyst for real business growth.
All Seas Capital’s hybrid strategy, investing a combination of debt and equity, integrates ESG considerations throughout its investment process to help position its portfolio for long term, sustained growth. As a signatory to the UN PRI and UN Global Compact, the team applies a two-step diligence process that considers sector agnostic and sector specific ESG factors. All Seas makes investments from €20-100m.
Marc Ciancimino, Co-Founder and Co-Managing Partner
Prior to starting All Seas, Marc was a partner (“Member”) of KKR & Co where he spent a decade and started the European dimension of the firm’s private credit activities with a special emphasis on hybrid transactions. He sat on the Global Private Credit Committee and was a Portfolio Management Committee member. He started his career in 1995 at Citibank and also worked at Bankers Trust before moving to the buyside in 1999. He has invested over $1.9Bn since he started his career.
Cristobal Cuart, Co-Founder and Co-Managing Partner
Prior to All Seas, Cristobal was a Director at KKR which he joined in 2010 where he was a senior member of the European private credit platform, working closely with Marc Ciancimino to launch and grow the firms European private credit activities. He has invested over $2.2 billion into privately held businesses throughout his career.