Freshfields Bruckhaus Deringer (‘Freshfields’) is advising CVC Capital Partners VIII, part of leading private equity and investment advisory firm CVC, on its majority investment in Rayner, the global ophthalmology business, from Phoenix Equity Partners.

Rayner is a manufacturer and developer of innovative intraocular lenses (IOLs) and associated pharmaceuticals. The Company’s products deliver sight-restorative implants and treatments to patients during cataract and refractive surgeries. Operating from their state-of-the-art headquarters in Worthing, UK, the Company, which developed the world’s first IOL in 1949, now 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.

With CVC’s backing, Rayner will pursue a strategy focused on driving both organic and inorganic growth, while further enhancing Rayner’s established reputation for innovation and product excellence. Benefitting from CVC’s international reach and experience of the healthcare sector, Rayner is poised to continue its growth as a leading global operator as demand for its broad suite of products and services in ophthalmology continues to grow.

The Freshfields team advising on the transaction is led by Charles Hayes and Victoria Sigeti, alongside David Brooks, Gina Bicknell, David Mendel, Jill Gatehouse and Ali Kirby-Harris.