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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.

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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