Rayner Surgical Group, the only British manufacturer of intraocular lenses, is for sale for £300 million to £400 million, according to UK news outlets.
The Daily Mail reported March 7 that buyout specialist Phoenix Equity Partners had appointed bankers from NM Rothschild to carry out a strategic review of Rayner’s business. Rayner traces its roots to 1910 when John Baptiste Reiner and Charles Davis Keeler founded it as an optician’s office in London. The company pioneered lenses and devices used for cataract surgery when it teamed up with famed ophthalmologist Sir Harold Ridley.
Phoenix Equity Partners bought a stake in Rayner in 2017 with plans to help the company expand in the US and enhance its new production facility in Worthing, West Sussex, where Rayner has its headquarters and current factory, according to the Daily Mail.