Insight Equity Announces the Recapitalization of Vision‐Ease Lens
SOUTHLAKE, Texas, and MINNESOTA, Minneapolis, Jan. 24, 2008 – Insight Equity I L.P. (“Insight”), the Dallas, Texas‐area private equity firm, has completed the dividend recapitalization of Vision‐Ease Lens. Orix Financial Corporation acted as sole lead administrative agent for the new debt facility. Insight has completed dividend recapitalizations of three of its portfolio companies in the last 30 days.
About Vision‐Ease Lens
Vision‐Ease, founded in 1930, is a leading supplier of optical lenses both in North America and in other parts of the world. It is a leading manufacturer of polycarbonate and glass lenses and a distributor of plastic lenses. The company was among the first to develop and commercialize prescription polycarbonate lenses and holds numerous patents on polycarbonate products and manufacturing processes. Vision Ease sells more than 6,000 SKU’s to wholesale laboratories, retailers with captive laboratories and other branded lens distributors. Vision‐Ease has production facilities in Ramsey, Minnesota and Jakarta, Indonesia, as well as distribution facilities in Ramsey, Minnesota; Toronto, Canada; and London, England. The firm has over 1,000 employees worldwide.
About Insight Equity
Dallas‐based Insight Equity (www.insightequity.com) makes controlling investments in strategically viable, middle market, asset intensive companies across a wide range of industries. Insight specializes in partnering with companies experiencing some level of underperformance. Insight also seeks complex and challenging situations, including corporate divestitures, bankruptcies, restructurings, and private family ownership. The firm leverages a proven collaborative value creation model to facilitate operational enhancements and growth.