Richmond Products, Inc. was acquired by Good-Lite Company
Transaction Description
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.
Transaction Details
Good-Lite Company
Elgin, IL
Acquired
Richmond Products, Inc.
A manufacturer of eye testing instruments
Albuquerque, NM
JW&Co advised Good-Lite
Transaction Overview
Good-Lite Company acquired Richmond Products, Inc.
Challenges
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.
Solutions
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.
Summary
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.
