Richmond Products, Inc. was acquired by Good-Lite Company
Good-Lite Company, a leading supplier of eye care equipment and supplies, acquired the assets of Richmond Products, Inc., a supplier and manufacturer of eye testing instruments. Richmond Products is an innovator in the manufacture of eye examination products for the pediatric, ophthalmology, neurology and optometry markets.
Richmond Products, Inc.
Good-Lite Company acquired Richmond Products, Inc.
The owners of Richmond Products were approaching retirement age and did not have a family member or a member of the management team that was interested in taking over the company and buying them out.
Good-Lite Company acquired Richmond Products as part of Good-Lite’s long-term strategic growth plan and enabled Richmond’s owners to retire. the acquisition almost doubled the size of Good-Lite and made it one of the leading suppliers of eye testing equipment to the pediatric, ophthalmology, neurology, and optometry markets.
Good-Lite had been both a customer and a supplier of Richmond Products, and the management teams knew each other well, so the acquisition made perfect sense for both sides.