Latham & Watkins advised Rayner and Phoenix Equity Partners on the sale of a majority interest to CVC Capital Partners VIII for an undisclosed amount.
Rayner is a manufacturer and developer of innovative intraocular lenses (IOLs) and associated pharmaceuticals. Rayner’s products deliver sight-restorative implants and treatments to patients during cataract and refractive surgeries. Rayner makes these and other products available to patients in over 80 countries, through its subsidiaries and distribution networks, to improve the eyesight of more than 300,000 patients per year.
The transaction is expected to close in Q3 2021, subject to customary closing conditions and receipt of required regulatory approvals.
The Latham team was led by London corporate partners Robbie McLaren and Farah O’Brien, with associates Gillian Bourke and Róisín Mbonu.