Mubadala will work in partnership with Apax to support the Rodenstock management teams vision of accelerating the companys growth through innovation. Supplied photo

Mubadala Investment Company will invest in Rodenstock Group (Rodenstock), the leading manufacturer of premium ophthalmic lenses, as a minority investor alongside Funds advised by Apax (the 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 individualized eyeglass lenses, called Biometric Intelligent Glasses (B.I.G. VISION). The companys 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 teams vision of accelerating the companys 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. business@khaleejtimes.com

Staff Reporter

Copyright 2021 Khaleej Times. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an as is and as available basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.