Sun 28-03-2021 13:01 PM
ABU DHABI, 28th March, 2021 (WAM) -- Mubadala Investment Company today announced that it will invest in Rodenstock Group, the leading manufacturer of premium ophthalmic lenses, as a minority investor alongside Funds advised by Apax (Apax Funds).
Founded in 1877, Rodenstock has been a global leader in prescription lenses for over 140 years, with a strong track record of innovative product development and market leading technologies. Headquartered in Munich, Germany, Rodenstock employs around 4,900 people worldwide and is represented by sales subsidiaries and distribution partners in more than 85 countries.
Rodenstock has a strong portfolio of innovative technologies; its patented "DNEye Pro" technology is at the heart of its business strategy and enabled Rodenstock to become the first company to measure the individual shape and size of each eye using thousands of data points.
The technology allows the company to produce individualised eyeglass lenses, called Biometric Intelligent Glasses (B.I.G. VISION ). The company’s portfolio also includes eyewear under the Rodenstock and Porsche Design brands.
Camilla Macapili Languille, Head of Life Sciences at Mubadala, said, "Rodenstock is the leading pure play lens manufacturer in the European market, with a strong reputation for innovation and a consistent focus on offering a differentiated customer proposition. We see its highly customised biometric lenses as only one part of its growing pipeline of proprietary technologies that will enable significant future growth. We are excited to be partnering with Apax and the management team to support the Company in this next stage of its journey."
Mina Hamoodi, Senior Vice President of Life Sciences at Mubadala, said, "Mubadala will work in partnership with Apax to support the Rodenstock management team’s vision of accelerating the company’s growth through innovation, commercial execution and digitisation, whilst continuing to deliver the highest level of service to clients and partners."
The transaction is subject to applicable regulatory approvals and is expected to close in the middle of 2021.