GBL is set to invest €0.5bn of equity to acquire a co-controlling minority stake in Rayner from CVC Capital Partners VIII. GBL will partner with CVC and Rayner’s management team to support Rayner in its international growth ambitions.
Rayner is a manufacturer of ophthalmic medical products. Its portfolio includes monofocal and premium Intraocular Lenses (IOLs), ophthalmic consumables including OMIDRIA® and Ophteis OVDs, the SOPHI Phaco platform and a suite of digital tools designed to improve surgeons’ and patients’ convenience. The business now operates in over 80 countries globally, supporting more than 3 million patients per year.
Rayner will reportedly continue to pursue a strategy focused on driving both organic and inorganic growth. The company is expanding in North America with its recently approved EMV and EMV Toric lenses, its approved Sophi Phaco machine and the anticipated launch of Galaxy in Q4 2026, as well as international expansion in Asia and Latin America. Rayner is a British company, with headquarters and manufacturing plants in Worthing (UK), Heerbrugg (Switzerland), and Sousel (Portugal).
The transaction is expected to close in Q2 2026, subject to customary closing conditions and receipt of required regulatory approvals. CVC were advised by Latham, PWC, and BCG. GBL were advised by Kirkland & Ellis, McDermott Will & Schulte, EY and Bain & Company.
