Zyloware Eyewear Enters New Era with CenterGate Capital Majority Stake Acquisition
Zyloware Eyewear, a leading provider of eyewear frames, has recently undergone a significant change in its ownership structure. CenterGate Capital, an Austin-based private equity investment firm, has acquired a majority stake in the company. This transaction marks a new chapter in Zyloware’s history, which spans over 100 years.
Established in 1923 by Joseph Shyer, Zyloware has been a family-owned and operated business for generations. The company has built a reputation for quality, service, and customer satisfaction, serving mass retail, value chains, chains, and independent rollups across the globe. Zyloware’s commitment to innovation has led to numerous awards for frame quality and design, marketing, and customer service.
The company’s history is marked by significant milestones, including the development of the Invincible in 1964, the first frame made out of Nylon, which has sold over 20 million frames. Zyloware has also expanded its operations, moving from Long Island City, New York, to its current state-of-the-art and environmentally friendly headquarters in Port Chester, New York, in 2010.
Under the leadership of Co-CEOs Jamie Shyer and Chris Shyer, Zyloware has continued to grow and adapt to the changing needs of the eyewear industry. The company has established strong relationships with retailers, offering a full-service partnership that includes product design and marketing, quality assurance, inventory management, distribution, and service.
The partnership with CenterGate Capital is seen as a strategic move to further enhance Zyloware’s growth and capabilities. Michael Smith, Managing Director at CenterGate Capital, expressed admiration for the organization built by the Shyer family and the management team, stating that they are honored to be partners for the next chapter of Zyloware’s growth.
Jamie Shyer and Chris Shyer will continue to co-lead Zyloware, emphasizing their commitment to the company’s legacy and values. Jamie Shyer noted that the transaction was a significant step for the company, and they are excited about the partnership with CenterGate and what it means for their employees, customers, and business partners.
Chris Shyer highlighted the importance of maintaining the company’s core values, including developing high-quality products, providing superior customer service, and remaining dedicated to the needs of eyecare professionals and consumers. The partnership with CenterGate Capital is expected to support these values while positioning the company for future growth.
Ernst and Young Capital Advisors, LLC served as the exclusive financial advisor to Zyloware in the transaction. CenterGate Capital, managing over $750 million, focuses on growing lower middle market companies and tailoring investments to meet the specific needs of each business.
This acquisition marks a new era for Zyloware Eyewear, combining the company’s rich history and expertise with the strategic support of CenterGate Capital. The partnership is poised to drive further innovation and growth in the eyewear industry, maintaining Zyloware’s commitment to quality, service, and customer satisfaction.