Houlihan Lokey Advises Montefiore Investment SAS

Houlihan Lokey is pleased to announce that Montefiore Investment SAS (Montefiore), a Pan-European private equity fund specialising in services companies, has acquired a majority stake in Demenego S.p.A. (Demenego), a leading chain of specialised optical centres in Northeast Italy. Houlihan Lokey acted as exclusive financing advisor to Montefiore and provided advice on all commercial aspects of the transaction. The transaction closed on 10 December 2024.

Founded in 1960 in Calalzo di Cadore, Veneto, Demenego is one of Italy’s leading chains of specialised optical centres. Over the years, the company has strengthened its presence in the region and currently operates through a network of 39 stores in northeastern Italy—as of the end of December—and employs approximately 270 people. A key feature of each store is the presence of specialised staff, who guide customers from the eye examination to the delivery of their glasses, which can be selected, even online, from a wide range of more than 4,500 models, either under the Demenego brand or from major eyewear manufacturers.

Created in 2005, Montefiore is a private equity firm dedicated to serving SMEs and middle-market companies. With a team of 50 employees and relying on its sector expertise and know-how, Montefiore successfully supports companies in their growth and development projects. Based in Paris and Milan, Montefiore currently manages €5 billion of equity and invests in ticket sizes ranging from €20 million to €200 million to finance sustainable and profitable growth for its portfolio companies.

Houlihan Lokey served as the exclusive financing advisor to Montefiore on its acquisition of Demenego, providing debt advisory services that allowed Montefiore to raise an attractive acquisition financing package.

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