Bridgepoint takes control of Rodenstock

An important change in the Rodenstock shareholding. The control of the German group that produces ophthalmic lenses passed to Bridgepoint, the European private-equity company whose main business is the acquisition of well-managed companies with good growth potential, operating in such strategic sectors as health, consumer goods and finance.

According to Bridgepoint partner Uwe Kolb, in charge of investments in Germany, 'The Rodenstock brand is one of the company's key businesses in a market where its main products have an annual growth rate exceeding 4%. Rodenstock is an extremely sound European company, the leader of the domestic market and with strong growth of its global presence. It has all it takes to develop on markets with an increasingly healthier population, in search of high-performance products and which considers glasses to be a fashion accessory and an expression of personal style rather than a medical requirement'.

Rodenstock is the third-largest European company, fourth-largest in the world, which produces ophthalmic lenses and frames. Its main presence is in Europe, where vision lenses represent 80% of its sales. Elsewhere in the world, Rodenstock has branches in over 80 countries. With 11 facilities in 10 countries, production is mainly in Europe (about two-thirds of its total production) and, in particular, in Germany, which counts for 50% of European production.

Rodenstock has around 4,300 employees throughout the world and in 2005 revenues were 345 million euros. In recent years, Rodenstock has fine-tuned its leading-edge technology for the production of high-performance progressive lenses and is at the top of the world market for corrective lenses, whose total value is between 7.5 and 9 billion euros, with Europe holding a 28% share.
With its expertise gained in the ophthalmic lens and frames sectors, Rodenstock is the only ophthalmic brand that can offer its customers a complete 'eyewear' system.

Rodenstock Italy General Manager Giovanni Palermo stated: 'Rodenstock considers the acquisition by Bridgepoint a further and important step forward for its growth strategy, also on the Italian market. Over the past three years, this strategy has allowed us to create a sound basis for our company through careful reorganization and fine-tuning. In Italy, the last eighteen months have seen significant investments in production, new technologies, new machinery and, on a commercial level, in important consumer campaigns and considerable improvements in our sales force. For our customers, the recent acquisition further confirms Rodenstock's soundness and extremely good prospects which aim at gaining the leadership for innovation and technology as well as style'.