Silmäasema Acquisition, Valuation, Funding & Investors

Silmäasema was acquired by Terveystalo for $668M in June 2026, a 2.1x multiple on $311M of revenue.

Silmäasema acquisition price

$668M

Acquired by Terveystalo · Jun 2026

Silmäasema revenue at acquisition

$311M

Last twelve months · Jun 2026

Silmäasema revenue multiple at acquisition

2.1x

EV/Revenue · Jun 2026

Silmäasema EBITDA multiple at acquisition

15.5x

EV/EBITDA · Jun 2026

Silmäasema Overview

About Silmäasema

Silmäasema is a Finland-based optical retailer and eye care provider operating 140 stores and 13 clinics across Finland and Estonia. Services encompass prescription eyewear, contact lenses, laser surgeries, and specialist ophthalmology. The network includes in-house labs producing custom lenses and diagnostic centers using OCT imaging. As the second-largest chain in Finland, Silmäasema partners with Essilor and Zeiss for lens technologies and serves over 1 million patients annually.


Founded

1975

HQ

FinlandHelsinki

Status

Acquired

Customer focus

B2C

Revenue model

Product sales, Services

Revenue

$311M (Jun 2026)

Valuation

$668M (acquired Jun 2026)

Silmäasema Acquisition

Silmäasema was acquired by Terveystalo for $668M on 7 June 2026.

The acquisition price implies a 2.1x revenue and 15.5x EBITDA multiple on $311M of revenue.

Before the acquisition Silmäasema had raised $43M across 1 funding round.

Terveystalo Healthcare Oy agreed to acquire Silmäasema Oy from its current shareholders in a transaction announced on 8 June 2026, with consideration consisting of EUR 275 million in cash and 36.5 million new Terveystalo shares, implying an overall deal valuation of about EUR 574 million. The parties expect annual pre-tax run-rate synergies of EUR 11-15 million, and completion is expected by the end of 2026 or in the first quarter of 2027. In 2025, Silmäasema generated EUR 267 million in revenue and EUR 37 million in adjusted EBIT, which implies an acquisition multiple of about 2.2x revenue and about 15.5x EBITDA-like adjusted EBIT. The acquisition is intended to accelerate growth and expand Terveystalo’s strategic position in eye health and related healthcare services, while combining Silmäasema’s operations with Terveystalo’s broader healthcare platform. Silmäasema is described as an eye health company with approximately 43% of revenues, or EUR 116 million, coming from a stated segment in the 2025 disclosure, indicating a diversified operating profile within the eye-care market.

Silmäasema acquisition details
AcquirerDateTypePriceEV/RevenueEV/EBITDA
7 Jun 2026Strategic M&A$668M2.1x15.5x

Silmäasema Funding History

Silmäasema has raised a total of $43M across 1 funding round.

Silmäasema funding rounds

Silmäasema funding rounds
DateStageInvestorsRaisedDeal Summary
May 2023Undisclosed stageCapMan; Ilmarinen Mutual Pension Insurance Company; Elo$43MAs part of the restructuring of Coronaria's ownership, CapMan Growth invested in Silmaasema alongside the pension insurers Elo and Ilmarinen, the foundation Konstsamfundet and key personnel in an investment round of approximately EUR 40 million. Coronaria remained the largest owner of Silmaasema with about 80 per cent. Silmaasema is Finland's leading vision and eye health company, combining optical retail with private eye clinics.

Who has invested in Silmäasema?

3 investors have backed Silmäasema across its funding rounds, including CapMan, Ilmarinen Mutual Pension Insurance Company and Elo.


Silmäasema Investors

Investors in Silmäasema by funding rounds participated
InvestorHQRoundsRoleFirst check
CapManFinlandHelsinki1ParticipantMay 2023

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Acquisitions by Silmäasema

Silmäasema has acquired 5 companies to date.

Last acquisition by Silmäasema was on May 17th 2024. Silmäasema acquired Eagle Vision for undisclosed valuation.


Latest Acquisitions by Silmäasema

Eagle Vision
Brillo
Oy Brillo Ab
Kuopion Laserklinikka Oy
Description
-
Brillo was a Finnish optical retail and eye surgery business based in Vaasa with stores in Vaasa, Pietarsaari, Kristiinankaupunki and Maalahti. It sold spectacles and contact lenses and, through Vaasan Laserklinikka, performed refractive and cataract surgery. The business was founded and owned by eye specialist Janne Järvenpää through Pecce Oy.
Oy Brillo Ab is an operator of optical retail stores across Finland, specializing in eyeglasses, contact lenses, and vision correction products from brands like Essilor and Zeiss. The chain provides on-site eye examinations using digital retinography and offers custom lens grinding services. With locations in major cities including Tampere and Turku, Oy Brillo Ab serves thousands of customers annually through its network of certified opticians.
Kuopion Laserklinikka Oy is a Kuopio-based Finnish clinic specializing in refractive surgery and cataract procedures using advanced laser technologies for vision correction.
HQ CountryEstoniaFinlandFinlandFinland
HQ City
-
Vaasa
Helsinki
Oulu
Deal Date17 May 202426 Feb 201626 Feb 20161 Feb 2016
Valuationundisclosedundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Silmäasema Competitors

Silmäasema competitors include listed companies like Musti Group, Zjamp Group, Mobilezone Holding and Petco, and private ones like KSP and Jane Software.

Public and private companies comparable to Silmäasema
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Musti GroupFinlandFinlandPublicly listed$586M$67M$561M-
Zjamp GroupChinaChinaPublicly listed$7B$247M$667M-
Mobilezone HoldingSwitzerlandSwitzerlandPublicly listed$1.1B($4M)$662M1.4x
PetcoUnited StatesUnited StatesPublicly listed$6B$317M$687M0.5x
KSPIsraelTel AvivPrivate$38M-$621M16.3x
Jane SoftwareCanadaVancouverPrivate$100M-$600M6.0x

Silmäasema Public Comps

Silmäasema is no longer listed, but its public comps include Zjamp Group, Mobilezone Holding, Petco, Guararapes, Doğuş Otomotiv, Autohellas, Halfords Group, Mavi, Auto Nejma and SK Discovery Co.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Zjamp Group$7B$247M0.1x-2.9x-
Mobilezone Holding$1.1B($4M)0.8x1.4x(188.4x)19.0x
Petco$6B$317M0.5x0.5x10.2x7.7x
Guararapes$2B$600M0.6x0.6x2.0x3.2x
Doğuş Otomotiv$5.3B$280M0.3x0.2x5.0x4.2x
Autohellas$1.2B$349M1.4x1.3x4.6x4.7x
Halfords Group$2.4B$238M0.4x0.4x4.3x4.1x
Mavi$981M$158M0.5x0.4x3.3x2.3x

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Common questions about Silmäasema

When was Silmäasema founded?Silmäasema was founded in 1975.
Where is Silmäasema headquartered?Silmäasema is headquartered in Helsinki, Finland.
Is Silmäasema publicly listed?No, Silmäasema was acquired by Terveystalo in June 2026.
Who acquired Silmäasema?Silmäasema was acquired by Terveystalo in June 2026.
How much was Silmäasema acquired for?Silmäasema was acquired for $668M in June 2026, a 2.1x revenue multiple.
How much funding has Silmäasema raised?Silmäasema has raised $43M across 1 funding round.
What was Silmäasema's last funding round?Silmäasema's last funding round was a $43M undisclosed-stage round in May 2023.
Who are Silmäasema's investors?Silmäasema's investors include CapMan, Ilmarinen Mutual Pension Insurance Company and Elo.
Which companies are comparable to Silmäasema?Companies comparable to Silmäasema include Musti Group, Zjamp Group, Mobilezone Holding, Petco, KSP and Jane Software.
How many companies has Silmäasema acquired?Silmäasema has acquired 5 companies, including Eagle Vision, Brillo, Oy Brillo Ab, Kuopion Laserklinikka Oy and Kuopion Laserklinikka.

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