ASGARD and Merit buy Revision’s eyewear business

ASGARD Partners & Co and Merit Capital Partners have acquired the eyewear business of Revision Military Limited. No financial terms were disclosed. Based in Vermont, Revision is a provider of eye protection for military and tactical use.


NEW YORK, Oct. 1, 2019 /PRNewswire/ — 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.”

ASGARD Partners & Co. is a private equity firm based in New York that primarily invests in founder, family, and management-owned companies with defensible value propositions and strong growth prospects. ASGARD predominantly focuses 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, 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 ASGARD believes business is a powerful platform that can change the world for the better and is committed to serving entrepreneurs, companies, and investors that share this belief. For more information about the firm, please visit

Headquartered in Chicago, Merit Capital Partners has raised over $2.2 billion of capital since 1993 through six institutionally sponsored limited partnerships. Merit invests both equity and mezzanine capital in middle-market companies. For more information on Merit Capital Partners, please visit

Revision develops and delivers purpose-built eye protection for military and tactical use worldwide. Revision specializes in integration for the optimum and necessary balance of protection and performance. To that end, Revision brings together the most advanced expertise, state-of-the-art technology, and finest technical minds. The Company is headquartered in Essex Junction, Vermont, USA. For more information, visit, write, or call +1 802.879.7002.