Wind Point Partners has acquired Vision-Ease Lens, an ophthalmic lens manufacturer. The senior management team of the company co-invested with Wind Point in this transaction.
Vision-Ease Lens is a manufacturer of branded ophthalmic lenses, including clear, photochromic and polarized lenses in polycarbonate, hard resin, glass and high-index materials. The company’s products are sold through wholesale labs, independent opticians, optometrists and ophthalmologists, and retail chains. Vision-Ease is headquartered north of Minneapolis in Ramsey, MN (www.vision-ease.com).
“Vision-Ease is a strong investment for our firm because of its long-standing stability and position as a market leader in value-added ophthalmic lenses, as well as the breadth of its products and strong brand reputation,” said Nathan Brown, a managing director at Wind Point Partners. “We will contribute Wind Point’s expertise and resources to build on these core strengths with increased internal investment and acquisitions.”
Wind Point Partners invests from $20 million to $70 million of equity in companies with revenues from $100 million to $500 million and EBITDAs of at least $8 million. Industries of interest include business services, consumer products, healthcare and industrial products. The firm has approximately $2.8 billion in capital under management and has completed more than 90 investments and 161 add-on acquisitions across its seven private equity funds. Wind Point Partners was founded in 1984 and is based in Chicago (www.wppartners.com).
“This recapitalization with Wind Point Partners will enable our long-term growth in some key areas, while continuing our excellence in day-to-day operations,” said Doug Hepper, president and CEO of Vision-Ease Lens. “The leadership team is investing alongside Wind Point to expand our business capabilities within and adjacent to our core competencies. We will also be able to devote more resources to global growth.”
2014 PEPD • Private Equity’s Leading News Magazine • 9-19-14