NEW YORK (October 2, 2019) – ASGARD Partners & Co. (“ASGARD”), a private equity firm based in New York, and Merit Capital Partners (“Merit”), a private equity firm based in Chicago, have partnered to acquire the eyewear business of Revision Military Limited (“Revision” or the “Company”), the world leader in protective eyewear solutions for military and tactical use. The transaction includes the sale of the protective eyewear product line, the world-renowned Revision name and branding, the Essex, Vermont 53,000 square foot manufacturing operation, and team of 130 employees. Under the guidance of ASGARD, the newly separated Revision eyewear business will continue day-to-day operations with its key management and existing manufacturing team.
Revision was founded as an eyewear company in 2001, and quickly became one of the primary suppliers of protective eyewear to military forces around the globe, including the U.S. Army, British Army, German and Swiss Armed Forces. Over the past decade, the Company has invested in advanced technology and equipment in the areas of materials, coatings, and dyes to improve performance and become the leader in ballistic laser protective solutions. ASGARD and Merit’s investment in Revision provides the Company with valuable strategic guidance and meaningful growth capital, reinforcing and expanding its capabilities to pursue new growth opportunities and support the needs of existing customers.
“Revision has long been an industry leader in protective eyewear solutions, saving the lives and eyesight of millions of servicemen and women around the globe. We are excited to work with the passionate and talented Revision team to pursue growth in new markets and develop the next-generation of eyewear technology. With a renewed focus on protective eyewear and dedicated capital resources, we believe Revision is well-positioned for growth in the years to come,” said Karan Rai, Founder and Managing Partner of ASGARD.
Ben Yarbrough, a Managing Director at Merit, said, “Revision represents a great opportunity for growth and expansion in this market. We are proud to partner with the ASGARD team, who knows the military personal protective equipment market exceptionally well and brings a focused strategic and operational vision to the Company.”