By Andrew Karp
Group Editor, lenses and technology

COLUMBUS, Ohio--After struggling for months with financial difficulties, Rodenstock North America (RNA) has sold its operating assets to Lazear Capital Partners, an investment banking company based here. The purchase price was not disclosed.

The new owners told VM they will continue to do business under the Rodenstock banner as well as distribute Rodenstock-brand products. A spokesperson for Rodenstock GmbH in Munich, Germany confirmed that "Rodenstock GmbH provides RNA with a range of spectacle lenses and spectacle frames under the brand Rodenstock," but noted that the German company does not have any financial stake in RNA.

Rodenstock North America is a California-based corporation privately owned by Rodenstock OWGR and various other investors.

Jim Cox

"We are happy to have found a new investor with the capital and resources to invest in our business for the future," said Jim Cox, who remains president and chief executive officer of RNA, a privately held, California-based corporation. "RNA management team will continue to be actively involved in the operations of the company, while Lazear continues to conduct a review of the company aimed at improving processes that enhance value for the customer."

Bruce Lazear, president of Lazear Capital Partners, said, "On the day to day, we continue business as usual without any material changes. Going forward, we will most likely be in a distribution business, not a manufacturing business. But we're not ruling out anything."

Although RNA continues to produce spectacle lenses at its headquarters and manufacturing plant in the Optical Village, near Columbus, Lazear confirmed that he has put the company's custom lens manufacturing lines up for sale at an auction scheduled for May 17.