Abu Dhabi-based global investor Mubadala Investment Company will invest in the leading manufacturer of premium ophthalmic lenses, Rodenstock Group, 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. Rodenstock employs approximately 4,900 people worldwide and has sales branches and distribution partners in over 85 countries. The company is headquartered in Germany.
Rodenstock has a strong portfolio of innovative technologies and its patented “DNEye Pro” technology is at the core of its business strategy and it allowed the German company to become the first to measure the individual shape and size of each eye using thousands of data points.
The technology also allows the company to produce individualized eyeglass lenses, called Biometric Intelligent Glasses (B.I.G. VISION). Furthermore, the company’s portfolio 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 customized 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.”
The transaction is subject to applicable regulatory approvals and is expected to close in the middle of 2021.
“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 digitization, whilst continuing to deliver the highest level of service to clients and partners,” commented Mina Hamoodi, Senior Vice President of Life Sciences at Mubadala.
Recently, Mubadala and the UK Government has announced a joint $1 billion investment in the life sciences sector.
