Houlihan Lokey Advises Revision Military

Houlihan Lokey is pleased to announce the divestiture of Revision Military Eyewear business (Revision Eyewear), a division within Revision Military Inc., to ASGARD Partners & Co., a New York-based private investment firm. The transaction closed on September 27, 2019.

Revision Eyewear is the world leader and category creator of ballistic and life-saving eyewear protection for the U.S. Department of Defense (DoD), elite global military units, and NATO-allied nations worldwide. Since 2003, the company has fielded more than 10 million pairs of life-saving spectacles, goggles, and visors. Revision Eyewear is a highly differentiated supplier of eyewear protection and the longest-standing participant on the U.S. Army Authorized Protective Eyewear List (APEL). The company is one of a few tactical military products recognized by name by military and ex-military end users, providing for a premium market position and significant opportunities in adjacent markets. The company's products include advanced and proprietary features, such as a patented anti-fog technology and universal prescription lens insert, that provide a significant and defensible market position. Revision Eyewear is headquartered in Essex, Vermont.

ASGARD Private Equity is a private investment firm, based in New York, that invests in founder, family, and management-owned companies with defensible value propositions and strong growth prospects. The company focuses primarily on manufacturing, services, and distribution businesses—with ties to defense, government, or aerospace markets—located in North America. The partners at ASGARD form a cohesive team with decades of investing and operating experience and are well‐suited to drive value and assist companies with transformational change. The firm invests in all forms of corporate divestitures, management buyouts, recapitalizations, generational ownership transitions, and going-private transactions in businesses with revenues of $10 million to $150 million.

Houlihan Lokey served as the exclusive financial advisor to Revision Eyewear. This transaction highlights Houlihan Lokey's leadership and expertise in the tactical defense market.

Houlihan Lokey's Aerospace, Defense & Government (ADG) Group is a leading M&A advisor to aerospace, defense, and government services companies in the U.S. Since 2016, the firm has closed more than 65 transactions worth more than $10 billion in enterprise value. With a staff of approximately 30 investment bankers in Washington, D.C., London, and Los Angeles, Houlihan Lokey's ADG practice is among the largest dedicated industry banking groups worldwide.