McDermott Advises Global Growth Capital on Financing for Mister Spex
McDermott Will & Emery advised Global Growth Capital on the provision of a two-digit million senior debt for online eyewear retailer Mister Spex as part of a recently closed financing round with a total volume of €65 million. The loan will be used to support further growth of the business as well as to refinance existing debt of the Berlin-based company.
Mister Spex GmbH, founded in 2007, is a leading online-driven omnichannel optician in Europe offering prescription glasses, sunglasses and contact lenses with about 11,000 SKUs online. The company also operates 12 of its own stores and cooperates with over 500 partner opticians in Germany, Austria, Switzerland, the Netherlands and Sweden.
Global Growth Capital arranges customized, innovative debt solutions with a ticket size between €5 and €50 million. The flexible approach to structuring and efficient decision-making enables growth companies and the entrepreneurs to develop in a sustainable manner.
Mister Spex GmbH is Europe’s leading online optician. Through its website, the Berlin-based company offers, alongside contact lenses, a comprehensive range of directly available designer glasses and sunglasses across Europe, all at attractive prices. In addition to transparent pricing and cost savings for complete prescription glasses, customers benefit from free services such as eye tests and glasses adjustments, as Mister Spex already works in partnership with more than 500 local opticians in Germany, Austria, Switzerland, the Netherlands and Sweden. The Mister Spex service team is made up of qualified opticians providing customer advice by telephone or e-mail. The company has its own edging and mounting lab in Berlin, where the final production and quality control of the glasses takes place. Throughout Europe the company counts more than 3 million customers. In February 2016 Mister Spex opened its first store in Berlin and was honored with the Red Dot Award for its innovative shop concept in the same year. The company now has 12 own stores in Germany.
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