Germany: Apax Partners acquires Rodenstock Group

In this year’s largest M&A transaction in Germany so far and the largest medtech M&A transaction with a European target completed in the past 12 months, private equity advisory firm Apax Partners has acquired the Rodenstock Group from Compass Partners.

“Rodenstock fits perfectly with the Apax Funds’ healthcare strategy of investing in innovative companies with a differentiated customer proposition and the potential to achieve stand-out growth,” said Steven Dyson, partner at Apax and co-head of healthcare.

Financial terms have not been disclosed.

Founded in 1877, Rodenstock Group is a manufacturer of premium ophthalmic lenses. Headquartered in Munich, it employs around 4,900 people worldwide and is represented by sales subsidiaries and distribution partners in more than 85 countries.

Rodenstock is known for its technology and was the first company to measure the individual shape and size of each eye and use data points to produce individualised eyeglass lenses.

In a statement, Apax said that it intended to support the Rodenstock management team’s “vision of accelerating the company’s growth through innovation, commercial execution and digitisation”.

The transaction is expected to close in the middle of the year.