Leading Consumer and Retail Industry Veteran Michael Magerman Joins eyebobs as CEO
May 02, 2016
Minneapolis, Minnesota – Norwest Equity Partners (“NEP”), a leading middle market investment firm, is pleased to announce that Michael Magerman, a leading consumer industry executive and entrepreneur, has joined eyebobs as CEO.
eyebobs, a purveyor of luxury reading glasses for the “irreverent and slightly jaded” consumer, has been an NEP portfolio company since March 2015.
In the years since its inception, eyebobs has successfully created a niche in the eyewear market by developing a line of distinctive, high-quality reading glasses sold at an exceptional value. eyebobs products have changed consumers’ concept of reading glasses from an unwelcome necessity to a statement-making fashion accessory. eyebobs sells its products to retailers through brick and mortar locations both in the US and abroad, and directly to consumers through eyebobs.com.
Magerman brings more than 30 years of industry-leading consumer management leadership to eyebobs and will be focused on rapidly scaling the company. Most recently, he served as President and CEO at Quickie Manufacturing Company, the nation’s largest manufacturer of cleaning tools. After the sale to Jarden Corporation, he completed the successful integration of Quickie into the Jarden Home and Family division.
Magerman’s career highlights also include his own entrepreneurial experience in the golf industry. In 1990, he founded Odyssey Golf, the largest manufacturer of golf putters in the world, and sold the company to Callaway Golf seven years after inception. Odyssey remains the #1 brand of putters in the world.
eyebobs was born in 2001 from the entrepreneurial idea of founder and current President, Julie Allinson, who found herself in need of reading glasses when she reached “the other side of 40.” Her assessment of the current market didn’t satisfy what she was looking for, so she decided to make what she wanted herself. She left her job at a children’s clothing company set out to work with a singular vision: to create a line of distinctive, high-quality reading glasses for people like her, the irreverent and slightly jaded.
With Magerman coming on board, Allinson is excited to now have the time to continue to work a variety of key, strategic initiatives, such as serving as eyebobs’ primary brand ambassador and enhance new product development initiatives.
Allinson shared, “On behalf of the entire eyebobs team, I am beyond thrilled to have Michael join our company. We share an entrepreneurial spirit and his track record of successfully scaling and growing companies is exactly what eyebobs needs to jump to the next level. I will now have more time to focus on building the brand and creating products that keep eyebobs ahead of the curve.”
Magerman shared, “I am thrilled to work with Julie and the entire eyebobs team. eyebobs is a fun and exciting company with passionate people, great products and loyal customers. I greatly appreciate the trust that NEP and Julie have in me, and I look forward to helping lead and execute the next phase of eyebobs’ growth.”
Tim Kuehl, NEP Partner and eyebobs board member, stated, “Bringing on a new CEO has been part of the eyebobs strategic growth plan since NEP first invested in the Company. We are confident that the collaboration of Michael’s extensive consumer industry experience and his proven ability to successfully scale growing companies, along with Julie’s knowledge and passion for the business are going to be a winning combination for eyebobs. NEP has known Michael for several years and has prior investment experience with him during his time with Quickie Manufacturing. We couldn’t be more pleased to have the opportunity to bring him on board at eyebobs.”
NEP has been investing in growing, profitable, and scalable middle market companies since 1961 and has deep experience working with industry-leading consumer products companies, including Apothecary Products, Shock Doctor, Bowtech, Savage Arms, and Rosetta Stone. More information on NEP and its investment strategy, portfolio and history can be found on nep.com.
eyebobs is headquartered in Minneapolis, Minnesota and employs 43 people. For more information, please visit eyebobs.com.