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(Alliance News) - Apax Global Alpha Ltd on Thursday announced its limited partner Apax X Fund has entered into an agreement to acquire a majority stake in Munich, Germany-based ophthalmic lenses manufacturer Rodenstock Group.
The Guernsey-based private equity and derived investments-focused firm said it plans to invest EUR21.3 million into Rodenstock on a look-through basis, with this figure stated before taking into account any closing adjustments.
Apax Global Alpha said the transaction is expected to close by the third quarter of 2021, subject to regulatory requirements.
"Apax X will support the Rodenstock management team's vision of accelerating the company's growth through innovation, commercial execution and digitalisation, whilst continuing to deliver the highest level of service to clients and partners," said Apax Global Alpha.
Shares in Apax Global Alpha were up 0.5% at 191.17 pence in London on Thursday.
By Zoe Wickens; zoewickens@alliancenews.com
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