NEW YORK (October 1, 2019) – ASGARD Partners & Co. (“ASGARD”), a private equity firm based in New York, and Merit Capital Partners (“Merit”), a private equity firm based in Chicago, have partnered to acquire the eyewear business of Revision Military Limited (“Revision” or the “Company”), the world leader in protective eyewear solutions for military and tactical use. The transaction includes the sale of the protective eyewear product line, the world-renowned Revision name and branding, the Essex, Vermont 53,000 square foot manufacturing operation, and team of 130 employees. Under the guidance of ASGARD, the newly separated Revision eyewear business will continue day-to-day operations with its key management and existing manufacturing team.

Revision was founded as an eyewear company in 2001, and quickly became one of the primary suppliers of protective eyewear to military forces around the globe, including the U.S. Army, British Army, German and Swiss Armed Forces. Over the past decade, the Company has invested in advanced technology and equipment in the areas of materials, coatings and dyes to improve performance and become the leader in ballistic laser protective solutions ASGARD and Merit’s investment in Revision provides the Company with valuable strategic guidance and meaningful growth capital, reinforcing and expanding its capabilities to pursue new growth opportunities and support the needs of existing customers.

“Revision has long been an industry leader in protective eyewear solutions, saving the lives and eyesight of millions of servicemen and women around the globe. We are excited to work with the passionate and talented Revision team to pursue growth in new markets and develop the next-generation of eyewear technology. With a renewed focus on protective eyewear and dedicated capital resources, we believe Revision is well-positioned for growth in the years to come,” said Karan Rai, Founder and Managing Partner of ASGARD.  

Ben Yarbrough, a Managing Director at Merit, said, “Revision represents a great opportunity for growth and expansion in this market.  We are proud to partner with the ASGARD team, who knows the military personal protective equipment market exceptionally well and brings a focused strategic and operational vision to the Company.”

Montreal, Quebec, Canada (October 1st, 2019) – Revision—a world leader in Soldier System solutions and equipment— announced today that it has sold its protective eyewear business to ASGARD Partners & Co., a private investment firm based in New York. “This divestiture supports our strategy to sharpen our portfolio and fund expanded capabilities and growth initiatives around enhanced warfighter survivability and lethality,” said Revision CEO, Jonathan Blanshay.

The transaction includes the sale of the Essex, Vermont manufacturing operation and the protective eyewear product line, along with the Revision TM and branding. The newly separated Revision eyewear business will continue day-to-day operations with the legacy management and manufacturing team in Essex, Vermont. “Revision eyewear has become the world-wide leader in military eye protection, and is a valuable and recognized industry brand,” said Blanshay. “As a stand-alone business with the support and direction of ASGARD Partners & Co., Revision eyewear will be in a better position to pursue strategic growth opportunities.”

Blanshay continued, “We recognize that the divestiture of a core business is a complex process, and want to assure our partners and stakeholders that it is a priority for us to move through this transition as swiftly and smoothly as possible. Our dedicated team remains committed and available in order to maintain business-as-usual throughout this period. We are incredibly excited to re-launch shortly with a new company name and look forward to the opportunity to build a world-class brand focused on our active, integrated head-borne and torso systems, power management and communication solutions.”