Apax-Owned Rodenstock Acquires Spanish Rival Indo (1)

German eyeglas-lens maker Rodenstock Group is acquiring Spanish rival Indo Optical SL to strengthen its European presence with its biggest deal to date under new owner Apax Partners.

“The acquisition of Indo Optical is an important step for our strategic ambition to increase Rodenstock’s global footprint,” Chief Executive Officer Anders Hedegaard said Thursday in a statement, confirming a Bloomberg News report published earlier this week.

Rodenstock didn’t disclose a purchase price. People familiar with the matter had said the transaction values Indo at 150 million euros ($157 million) or more.

Buying Indo, which manufactures specialist lenses for eyewear and ...