RAMSEY, Minn.—Vision-Ease Lens has withdrawn its registration for an initial public offering (IPO), according to documents filed yesterday with the U.S. Securities and Exchange Commission. In October 2006, the Ramsey-based lens manufacturer filed to raise $86 million through an IPO.

Rich Faber, chief financial officer of Vision-Ease, told VMail, “Our owners elected not to pursue an IPO due to the turbulent markets. There is no need to force a transaction at a discount. However, the company continues to do well on both the top line and the bottom line.”

Faber said that earlier this week, Dallas-based Orix Leveraged Finance arranged to finance a recapitalization of Vision-Ease worth $117 million.

Vision-Ease is privately owned by Insight Equity A.P.X, a Texas limited partnership, which purchased Vision-Ease in August, 2004 from BMC Industries, which had earlier declared bankruptcy.