M&A Deal Summary

Insight Equity, PNC Mezzanine Capital and Rosewood Private Investments Acquire Vision-Ease Lens

On November 1, 2004, private equity firm Insight Equity, mezzanine finance firm PNC Mezzanine Capital and private equity firm Rosewood Private Investments acquired consumer products company Vision-Ease Lens

Acquisition Highlights
  • This is Insight Equity’s 1st, PNC Mezzanine Capital’s 4th and Rosewood Private Investments’ 1st transaction in the Consumer Products sector.
  • This is Insight Equity’s 2nd, PNC Mezzanine Capital’s 10th and Rosewood Private Investments’ 1st transaction in the United States.
  • This is Insight Equity’s 1st, PNC Mezzanine Capital’s 1st and Rosewood Private Investments’ 1st transaction in Minnesota.
Investment Fate
  • Vision-Ease Lens was sold to a consortium of financial buyers in 2014.
  • Vision-Ease Lens was sold to a strategic buyer in 2015.
  • Vision-Ease Lens was divested to a consortium of strategic buyers in 2016.

M&A Deal Summary

Date 2004-11-01
Target Vision-Ease Lens
Sector Consumer Products
Buyer(s) Insight Equity
PNC Mezzanine Capital
Rosewood Private Investments
Deal Type Special Situations/Distressed

Target

Vision-Ease Lens

Ramsey, Minnesota, United States
Vision-Ease Lens, Inc. (Vision Ease) is a developer, manufacturer and marketer of ophthalmic lenses. It offers photochromic, light-responsive, polarized, and progressive line-free lenses; and lenses in polycarbonate, plastic, and glass materials.

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Buyer(S) 3

Buyer

Insight Equity

Southlake, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Insight Equity is a private equity firm that targets control investments in middle-market companies. Insight looks for companies with revenues between $50 million to $1 billion and seeks to commit between $25 to $150 million per transaction. Areas of interest include manufacturing, distribution, aerospace & defense, automotive & transportation, consumer goods, service & professional industries, technology, and energy. Insight does not invest in real estate, retail, or restaurant businesses. Insight Equity was formed in 1998 and is based in Southlake, Texas. The Firm has an additional office in New York City.


DEAL STATS #
Overall 2 of 26
Sector: Consumer Products M&A 1 of 2
Type: Special Situations/Distressed M&A Deals 1 of 1
State: Minnesota M&A 1 of 1
Country: United States M&A 2 of 24
Year: 2004 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-05-28 Direct Fuels

Euless, Texas, United States

Direct Fuels LLC is an independent regional fuel distributor and specialty processer.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-27 Hirschfeld Industries

San Angelo, Texas, United States

Hirschfeld Industries is a fully integrated fabricator of highly engineered structural steel components. The company serves a wide range of end markets including transportation infrastructure, industrial development, commercial construction, and power generation. With ten facilities providing a national presence, Hirschfeld is a major participant in the expansion and redevelopment of the U.S. transportation and energy infrastructure systems, both publicly and privately funded.

Buy -
Buyer

PNC Mezzanine Capital

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

PNC Mezzanine Capital is the subordinated debt investing arm of PNC Bank. PNC Mezzanine looks to provide $10 to $50 million of junior capital to middle-market companies in a variety of industries. Prospective companies generally have revenues of $20 million and EBITDA greater than $4 million. Broad sectors of interest include niche manufacturing, value-added distribution, and business or consumer services. PNC will not invest in early-stage or technology-driven businesses; real estate, commodity-based or capital-intensive companies; businesses with high customer or vendor concentration; or declining businesses. PNC Mezzanine was formed in 1989 and is based in Pittsburgh, Pennsylvania.


DEAL STATS #
Overall 10 of 77
Sector: Consumer Products M&A 4 of 8
Type: Special Situations/Distressed M&A Deals 1 of 1
State: Minnesota M&A 1 of 2
Country: United States M&A 10 of 73
Year: 2004 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-10-26 Soft-Lite Gorell Windows & Doors

Indiana, Pennsylvania, United States

Vinyl replacement windows and patio doors from Soft-Lite Gorell are expertly designed and skillfully manufactured to provide you with cost-saving energy efficiency, exceptional safety and security, greater comfort and remarkable beauty! These vinyl windows and patio doors are made with strong, premium-grade materials that help keep out intruders and also make them unbelievably easy to operate and clean.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-03-01 Portec Group International

Cañon City, Colorado, United States

Portec Group International is a designer, manufacturer and marketer of components and sub-systems used by the material handling industry.

Buy -
DESCRIPTION

Rosewood Private Investments is a family-owned private investment firm focused on acquiring and building companies. The Firm will consider opportunities throughout the US and generally seeks to commit $50 to $100 million per transaction. Target companies typically possess experienced management and diverse customers. Rosewood does not have any sector preferences, however, the Firm will not invest in oil/gas, real estate, banking, insurance, and biotechnology. Rosewood Private Investments is based in Dallas, Texas.


DEAL STATS #
Overall 1 of 21
Sector: Consumer Products M&A 1 of 4
Type: Special Situations/Distressed M&A Deals 1 of 4
State: Minnesota M&A 1 of 1
Country: United States M&A 1 of 21
Year: 2004 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 Port-A-Cool

Center, Texas, United States

Port-A-Cool, LLC is the industry pioneer and market leading designer, manufacturer, and seller of portable evaporative cooling units and evaporative cooling media. Port-A-Cool, through its extensive value-added distribution network and relationships with big box and specialty retailers, sells products that provide customers with versatile, efficient and lower cost cooling solutions.

Buy -