M&A Deal Summary

Atlantic Street Capital and Harvest Partners Structured Capital Acquire Advancing Eyecare

On January 10, 2019, private equity firms Atlantic Street Capital and Harvest Partners Structured Capital acquired medical products company Advancing Eyecare

Acquisition Highlights
  • This is Atlantic Street Capital’s 3rd and Harvest Partners Structured Capital’s 2nd transaction in the Medical Products sector.
  • This is Atlantic Street Capital’s 18th and Harvest Partners Structured Capital’s 21st transaction in the United States.
  • This is Atlantic Street Capital’s 3rd and Harvest Partners Structured Capital’s 3rd transaction in Florida.
Investment Fate
  • Advancing Eyecare was sold to a consortium of financial buyers in 2022.

M&A Deal Summary

Date 2019-01-10
Target Advancing Eyecare
Sector Medical Products
Buyer(s) Atlantic Street Capital
Harvest Partners Structured Capital
Deal Type Consolidation

Target

Advancing Eyecare

Jacksonville, Florida, United States
website
Advancing Eyecare is an operator of diagnostic ophthalmic equipment company established to offer the products and service solutions in the ophthalmic equipment industry. Advancing Eyecare was founded in 2019 and is based in Jacksonville, Florida.

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Buyer(S) 2

Buyer
DESCRIPTION

Atlantic Street Capital is an operationally focused private equity firm that partners with entrepreneurs and management teams to create value. Atlantic Street looks to acquire profitable companies where it can invest $15 to $75 million per deal. Target industries include consumer products, services, manufacturing, distribution, retail, restaurant and healthcare. Atlantic Street prefers opportunities located in the US and Canada and will only consider control situations. Atlantic Street Capital was formed in 2006 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 18 of 27
Sector (Medical Products) 3 of 6
Type (Consolidation) 1 of 1
State (Florida) 3 of 5
Country (United States) 18 of 27
Year (2019) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-10 Lombart Instrument

Norfolk, Virginia, United States

Lombart Instrument is the largest independent, value‐added distributor of ophthalmic instruments to ophthalmologist and optometrist practices in the United States. Products offered include chairs, stands, slit lamps, refractors, tonometers, keratometers, eye projectors, perimeters, and replacement bulbs and batteries. Lombart sells these products to ophthalmology and optometry practices and clinics, teaching institutions and hospitals, and government hospitals. Lombart is headquartered in Norfolk, VA.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-28 Alex Evenings

New York, New York, United States

Alex Evenings designs, sources and distributes branded ladies eveningwear dresses and separates to the moderate to upper-moderate segments of the women’s apparel industry. Alex Evenings was founded in 1989 and is based in New York City.

Sell -
DESCRIPTION

Harvest Partners Structured Capital is a private investment group focused on minority position, non-control investments. The Group looks for businesses with $100 million to $1 billion in revenues where Harvest can commit $50 to $250 million. Sectors of interest include business services, consumer services, healthcare, industrial services, manufacturing, and distribution. Harvest Partners Structured Capital is a unit of PE Firm Harvest Partners. The Firm is based in New York City.


DEAL STATS #
Overall 22 of 31
Sector (Medical Products) 2 of 2
Type (Consolidation) 3 of 3
State (Florida) 3 of 3
Country (United States) 21 of 30
Year (2019) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-27 Avalign Technologies

Rosemont, Illinois, United States

Avalign Technologies is a manufacturer of implants and instruments, specialty instrumentation, cutting tools, and cases and trays to the orthopedic medical device and specialty surgical markets. Avalign Technologies, Inc. is comprised of two divisions, avalign orthopedics, and avalign Surgical. Avalign Orthopedics manufactures premium implants and instruments for orthopedic, spine, and trauma applications. Avalign Technologies was founded in 2005 and is based in Rosemont, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-16 Avantor

Radnor, Pennsylvania, United States

Avantor is a provider of ultra-high purity materials and customized solutions to customers in the life sciences and advanced technology markets. Avantor was incorporated in 1904 and is based in Radnor, Pennsylvania.

Sell -