RAMSEY, Minn.--(BUSINESS WIRE)--Ophthalmic lens manufacturer VISION EASE immediately expands its product portfolio and distribution capabilities with the acquisition of Daemyung Optical Co. Ltd. (DMO). Details of the deal were not disclosed.
DMO is the second largest optical lens manufacturer in Korea, with two production facilities in South Korea and one in China. The acquisition doubles the size of VISION EASE while adding critical high-index cast lenses to its product portfolio, including 1.74, 1.67 and 1.60 high-index lenses. The deal also expands VISION EASE’s distribution channels to high-growth markets throughout Asia.
“DMO is a leader in high-quality cast lenses, which complements VISION EASE’s strength in polycarbonate lens manufacturing,” said John Weber, CEO of VISION EASE. “By expanding our offerings with these new, in-demand lenses, we will be a better partner to customers looking to improve their businesses results.”
This new ownership also signals global expansion for DMO, whose products and market reach will now extend into the North and South American markets that VISION EASE serves.
VISION EASE’s investor, Wind Point Partners, supported this acquisition as part of its business growth strategy for VISION EASE.
“Daemyung Optical is a smart investment because it’s an established market leader with a complementary product portfolio and an extensive distribution network,” said Matt Moran, Vice President with Wind Point Partners. “We look forward to continuing to grow VISION EASE’s business and capabilities through strategic acquisitions and the addition of new markets, and providing long-term leadership for DMO.”
Nathan Brown, Managing Director of Wind Point Partners added, “This acquisition is a great example of Wind Point’s strategy of completing transformative add-on acquisitions, in partnership with management, to drive shareholder value.”
About VISION EASE
VISION EASE is a global ophthalmic lens marketer and manufacturer whose solutions empower individuals, businesses and society to be their best. The first to offer lenses that are now industry standards – including lightweight polycarbonate prescription lenses and sunglass lenses that filter high energy visible light – VISION EASE is a trusted partner to independent opticians, optometrists and ophthalmologists, and retail chains throughout the world. For more information, visit www.visionease.com.
About Daemyung Optical Co. Ltd.
Daemyung Optical Co. Ltd. (DMO) is the second largest optical lens manufacturer in Korea, and specializes in high-index plastic lenses. It was founded in 1985. For more information, visit www.dmo.co.kr/eng/.
About Wind Point Partners
Wind Point Partners is a private equity investment firm that manages commitments of approximately $2.5 billion. Wind Point partners with top caliber CEOs to acquire middle market businesses where we can establish a clear path to value creation. Additional information about Wind Point is available at www.windpointpartners.com.