Vision-Ease Lens, which manufactures the Coppertone brand of sunglass lenses at its headquarters complex in Anoka County, has been acquired by Wind Point Partners, a Chicago private equity investment firm.

Terms were not disclosed.

Vision-Ease has been a growth story since it was acquired a decade ago out of the bankruptcy of its former parent, BMC Industries, by Texas-based Insight Equity and Rosewood Capital. BMC was brought down by the collapse of its TV-screen business.

"Insight and Rosewood specialize in turnarounds and they were good owners," said Vision-Ease CEO Doug Hepper, a 12-year veteran of the company. "The company has grown and prospered. Wind Point looks to buy companies and grow them organically and through acquisitions. That's very much a part of the strategy. We expect to accelerate growth."

Vision-Ease expects to be profitable this year on a 10 percent sales increase. Revenue is estimated at $125 million.

"Vision-Ease Lens is a strong investment for our firm because of its long-standing stability and position as a market leader in value-added ophthalmic lenses, as well as the breadth of its products and strong brand reputation," Nathan Brown, a managing director at Wind Point Partners, said in a statement. "We will contribute expertise and resources to build on these core strengths with increased internal investment and acquisitions."

Vision-Ease, whose largest customers are Lenscrafters and Wal-Mart, makes the LifeRx and ChangeRx light-responsive lenses, as well as SunRx and Coppertone polarized lenses. It sells products through thousands of wholesale labs, eye doctor offices and retail chains around the globe.

Coppertone-branded sunglasses, one of Vision-Ease's most lucrative lens products, are made under contract for the consumer products group of drugmaker Merck.

Vision-Ease employs 350 at its headquarters, engineering center and flagship plant in Ramsey, and another 850 people at manufacturing facilities in Indonesia and Thailand.

"We continue to upgrade and do more of the engineering and R&D in Ramsey," Hepper said. "Our highest value-added products are manufactured in Ramsey."

The company had planned to sell stock in an initial public offering in 2008, but withdrew as demand for stocks plummeted during the Great Recession. The company's owners subsequently concluded that they could realize more long-term value through continued private ownership.

Neal St. Anthony • 612-673-7144