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Apax To Buy German Eyewear Maker Rodenstock For $1.8B

By  |  March 24, 2021

Buyout group Apax is buying German ophthalmic lens and eyewear maker Rodenstock from peer investor Compass Partners, it announced on Wednesday, March 24.

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    Financial details were not disclosed, but a person familiar with the matter said that the deal values Rodenstock at about €1.5 billion (US$1.77 billion), including debt.

    Rodenstock was founded in Munich in 1877 and employs 4,900 staff. In 2019, it posted earnings before interest, tax, depreciation, and amortization of €103 million on 450 million in sales.

    Last year, the company received a €75 million capital injection from its owners to cope with a sales slump during the coronavirus pandemic.

    Revenues then recovered faster than expected on strong demand for its high quality progressive-addition lenses, Rodenstock stated in June.

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