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33-522: As of 2023, it has a workforce of approximately 5,000 people, with sales offices and distribution partners in around 85 countries. The company was founded in Würzburg, Germany by Josef Rodenstock under the name Optisches Institut G. Rodenstock in 1877. The company produced barometers , ophthalmic lenses and frames , scales, and various measuring instruments in its precision mechanics workshop. In 1880, Rodenstock developed his first patented products,

66-458: A 49% share. In 2004, Permira increased its ownership share to 85%, the Rodenstock family still held 10%, while the management held the remaining 5%. Under Permira, comprehensive restructuring measures were implemented. In 2006, Permira sold its 85% share in Rodenstock to investment company Bridgepoint . Bridgepoint thus owned 95% of Rodenstock. The management still held the remaining 5%. In

99-453: A new environment. Spin-offs also allow high-growth divisions, once separated from other low-growth divisions, to command higher valuation multiples. In most cases, the parent company or organization offers support doing one or more of the following: All the support from the parent company is provided with the explicit purpose of helping the spin-off grow. The United States Securities and Exchange Commission 's (SEC) definition of "spin-off"

132-462: A peddler of self-designed measuring instruments and spectacle frames, began business operations together with his brother Michael of the company "G. Rodenstock" which had been founded in Würzburg in 1877. Alexander Rodenstock (1905–1953) Alexander Rodenstock joined the company at the age of 22 in 1905. He had given up his studies of physics and economics and started to take over the management of

165-422: A second incarnation, even if the first is still active. It is distinct from a sell-off, where a company sells a section to another company or firm in exchange for cash or securities. Spin-offs are divisions of companies or organizations that then become independent businesses with assets, employees, intellectual property , technology , or existing products that are taken from the parent company . Shareholders of

198-815: A side-arm of the River Isar , where the head office of Rodenstock GmbH was located till 2012. His new factory founded in Regen in the Bavarian Forest in 1898 still producing even today. Rodenstock himself died, aged 85, in Erl, Tyrol in the First Republic of Austria . Alexander Rodenstock (1883-1953), the eldest son of Josef Rodenstock, was not able to complete his study of physics at the Munich Technical University when he received

231-460: Is more precise. Spin-offs occur when the equity owners of the parent company receive equity stakes in the newly spun off company. For example, when Agilent Technologies was spun off from Hewlett-Packard (HP) in 1999, the stockholders of HP received Agilent stock. A company not considered a spin-off in the SEC's definition (but considered by the SEC as a technology transfer or licensing of technology to

264-703: The "Diaphragma lenses", and two years later he exported them to Austria , Switzerland , the Netherlands , Denmark , Italy and Russia . From 1883 onwards, the company was based in Munich , and a grinding shop was established in Regen in 1898. In 1899, Rodenstock started production of the first sunglasses with UV protection. In 1886, he acquired the Rodenstock company grounds at Isartalstraße (today's Dreimühlenviertel). When Josef's son Alexander Rodenstock joined

297-674: The German Emperor. During WWI, Rodenstock produced the Robra gas mask glasses for the German army. Starting in the 1950s , in addition to product information, the company also used advertising to cultivate its image: Rodenstock was the first in the business to hire internationally renowned stars such as Brigitte Bardot , Carl Möhner , Curd Jürgens , Gina Lollobrigida , or Roy Black as testimonials. Josef Rodenstock Josef Rodenstock (11 April 1846 – 18 February 1932)

330-428: The assets are sold off rather than retained under a renamed corporate entity. Many times, the management team of the new company are from the same parent organization. Often, a spin-off offers the opportunity for a division to be backed by the company but not be affected by the parent company's image or history, giving potential to take existing ideas that had been languishing in an old environment and help them grow in

363-466: The call of his father to join the company in 1905. The company was as optometrist the imperial warrant of appointment of the German Emperor and King of Prussia Wilhelm II. Corporate spin-off A corporate spin-off , also known as a spin-out , or starburst or hive-off , is a type of corporate action where a company "splits off" a section as a separate business or creates

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396-612: The company in 1905, Rodenstock's entire production was moved to Munich . In the 1920s, Rodenstock began mass production of camera lenses for a large number of major camera manufacturers. Due to high demand for these lenses, the company stopped production of its own cameras. Between 1930 and 1939, Rodenstock established representatives and offices in all major markets worldwide. During WWII , Rodenstock manufactured armaments such as binoculars and optical prisms for tanks. The company also continued to manufacture eyeglasses , as those were deemed militarily important and indispensable. After

429-544: The company in 1976 and initially managed the company together with his father following his study of physics at Munich University and a subsequent MBA at the INSEAD management school in Fontainebleau, France. He took over general responsibility for the company in 1990 and focused the company on the demands of increasing industrial globalization. At the turn of the last century, Jose Rodenstock served as court optician of

462-455: The company produced 5 million ophthalmic frames . Rodenstock continued to manufacture other optical devices, such as projection lenses for slide projectors ( Splendar ). In 1968, the company introduced the first photochromatic glasses in Europe , and from 1975 onwards, it produced the first plastic ophthalmic lenses in the world. Between 1972 and 1983, the network of foreign sales corporations

495-494: The company provides special products for antique lorgnettes , monocles , magnifying glasses , pince-nezes , or diving masks. Since 1964, more than 60 Eyewear models made by Rodenstock and Porsche Design won design awards such as the iF Product Design Award and the RedDot Award . In 2012, video centration system ImpressionIST 3 was recognized with the iF Product Design Award by Industrie Forum Design Hannover. In

528-478: The family began mass production in the early 1861. They had made the glass tubes in the Thuringian Forest and the dials - printed with the family name Rodenstock - in Würzburg . In 1877 he founded the precision workshop "G. Rodenstock" together with his brother Michael in Würzburg. They sold mathematical, physical and optical instruments, particularly glasses. Josef Rodenstock had already developed

561-504: The family company; he did so in 1919. Rolf Rodenstock (1953–1990) Rolf Rodenstock had a diploma in general business, a doctorate and a professorship. He took over the helm of the family company from his father in 1953. He supervised the reconstruction of the company and Rodenstock's own "economic miracle" and was considered one of the most respected corporate personalities of the still young Federal Republic. Randolf Rodenstock  [ de ] (1990–2003) Randolf Rodenstock joined

594-484: The field of optical lenses, Rodenstock won three Silmo d’Or Awards in 2012. The Rodenstock Perfection R8005 spectacle frame won the category "Special Mention for Outstanding Design Quality" at the 2014 German Design Award. In 2020, the P‘8362 Porsche Design glasses won the iF Product Design Award by Industrie Forum Design Hannover. Josef Rodenstock (1878–1905) On 1 January 1878, Josef Rodenstock (32),

627-588: The group of shareholders at Optische Werke G. Rodenstock as a personally liable partner (general partner), leading the company together with his father Rolf Rodenstock. In 1989, Rodenstock shifted the majority of its Munich production capabilities to its newly established serial production facilities in Thailand, and its production facilities in Ebersberg were moved to Malta . Between 1988 and 1989, revenues decreased by 10% from its previous €700 million. 1991 saw

660-476: The introduction of the R logo and trademark . Between 1995 and 1996, the company built a new production facility for prescription lenses in Klatovy ( Czech Republic ). The Rodenstock Präzisionsoptik precision optics division, which includes the production of lenses for analog view cameras , enlargers , and digital view cameras with high-resolution digital camera backs (e.g. the 1997 Apo-Sironar digital )

693-414: The main reasons for what The Economist has dubbed the 2011 "starburst revival" is that "companies seeking buyers for parts of their business are not getting good offers from other firms, or from private equity". For example, Foster's Group , an Australian beverage company, was prepared to sell its wine business. However, due to the lack of a decent offer, it decided to spin off the wine business, which

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726-478: The new company) may also be called a spin-off in common usage. A second definition of a spin-out is a firm formed when an employee or group of employees leaves an existing entity to form an independent start-up firm. The prior employer can be a firm, a university, or another organization. Spin-outs typically operate at arm's length from the previous organizations and have independent sources of financing, products, services, customers, and other assets. In some cases,

759-485: The parent company receive equivalent shares in the new company in order to compensate for the loss of equity in the original stocks . However, shareholders may then buy and sell stocks from either company independently; this potentially makes investment in the companies more attractive, as potential share purchasers can invest narrowly in the portion of the business they think will have the most growth. In contrast, divestment can also sever one business from another, but

792-664: The production of so-called biometric ophthalmic lenses . In March 2021, Apax Partners acquired the Rodenstock Group. The company is currently dealing in the development, production and distribution of ophthalmic lenses and frames , as well as sunglasses , sports eyewear, reading glasses, computer glasses, and driving glasses. Rodenstock distributes these products via its own brand Rodenstock as well as license brand Porsche Design . The company's range of products includes single vision lenses, progressive lenses , as well as tinted and photocromatic lenses. Furthermore,

825-482: The result of illegal cartel agreements. Rodenstock Precision Optics changed from being a brand of Qioptiq to Excelitas Technologies , a private equity firm, in 2013 after Qioptiq was acquired by Excelitas. These independent entities still operate with the same stylized "R" logo. 2012 saw the introduction of Eye Lens Technology, a type of ophthalmic lens that considers astigmatism adjustments as well as Listing's law for close proximity, thus taking full advantage of

858-688: The same year, the company began tapping new market segments for opticians with its service terminal. Also in 2006, Linos Photonics was acquired by Qioptiq Group, based in Luxembourg , in 2006; the merger was completed in 2009. Since 2009, Rodenstock has offered portfolios for progressive lenses. In June 2010, the German Federal Cartel Office imposed fines totaling €115m on the ZVA (German Association of Opticians and Optometrists) as well as several manufacturers of ophthalmic lenses as

891-478: The so-called "diaphragm lenses" in the years before settling and started now to sell them and to extend on his ideas. In 1883 the company was transferred to Munich . According to adverts in the "Fliegende Blätter", Rodenstock already had more than 17 sales outlets in German Empire , Switzerland , Luxembourg and Bohemia . The business was going so well that two years later Rodenstock purchased property at

924-467: The spectacle wearer's eyesight. After 126 years next to the river Isar, Rodenstock moved its headquarters to Elsenheimerstraße in the west of Munich. In 2018, Rodenstock introduced the DNEye Pro technology to the market. In, 2020 Rodenstock announced " B.I.G. VISION FOR ALL" , a new company philosophy in which Rodenstock measures each eye based on thousands of data metrics. This data is then used for

957-407: The spin-out may license technology from the parent or supply the parent with products or services; conversely, they may become competitors. Such spin-outs are important sources of technological diffusion in high-tech industries. Terms such as hive-up, hive down or hive across are sometime used for transferring a business to a parent company, a subsidiary company or a fellow subsidiary. One of

990-456: The war, Rodenstock once again focused on its core competencies, particularly the fields of ophthalmic lenses and frames . Alexander Rodenstock's son Rolf Rodenstock took over the company in 1953, starting the rise of Rodenstock to a world-renowned major player in the optics industry. Since 1954, the company has increased its investment in public advertising in addition to ads in trade magazines for opticians and ophthalmologists . In 1955,

1023-511: Was spun off in 1996 as Rodenstock Photo Optics , a new company and in 2000, it was acquired by Göttingen -based Linos Photonics AG. In 2002, the remaining business segment Eyewear was transferred from Optische Werke G. Rodenstock into the newly founded corporation Rodenstock GmbH. Due to considerable business difficulties in the US, the company faced a severe crisis in 2003. In the same year, investor group Permira bought into Rodenstock with

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1056-739: Was a German industrialist and the founder of Rodenstock , a manufacturer of optical systems. Josef Rodenstock was born in Ershausen , in the Prussian Province of Saxony . The eldest son of the "wool comber, master mechanic and merchant" Georg Rodenstock (1819-1894), he was 14 years old when he started selling haberdashery , without trader's or travel's licence, to support his family. He learned soon how to refill damaged tubes of mercury barometers , which he bought from another haberdasher and sold "with some advantage" on his sale trips. He even learned how to make new barometers by himself. So

1089-635: Was further expanded. As early as 1950/51, Rolf Rodenstock co-founded the optical precision mechanics factory Industria Optica Rodenstock – Chile S.A; not as a subsidiary of Rodenstock in Germany, but rather as part of a private investment. Only later did Optische Werke G. Rodenstock KG gradually take over the Chilean manufacturer. It has been the market leader in the field of ophthalmic lenses and frames in Chile ever since. In 1983, Randolf Rodenstock joined

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