M&A Deal Summary

Cortec Group Acquires The Eye Academy of America

On December 14, 2016, private equity firm Cortec Group acquired healthcare services company The Eye Academy of America Ltd. (ICON Eyecare)

Acquisition Highlights
  • This is Cortec Group’s 5th transaction in the Healthcare Services sector.
  • This is Cortec Group’s 37th transaction in the United States.
  • This is Cortec Group’s 1st transaction in Colorado.

M&A Deal Summary

Date 2016-12-14
Target The Eye Academy of America Ltd. (ICON Eyecare)
Sector Healthcare Services
Buyer(s) Cortec Group
Deal Type Recapitalization

Target

The Eye Academy of America Ltd. (ICON Eyecare)

Denver, Colorado, United States
website
The Eye Academy of America Ltd. (ICON Eyecare) is an operator of 11 ophthalmology clinics and five ambulatory surgery centers that are exclusively focused on the treatment of ophthalmic conditions. ICON Eyecare is a regional provider of eye care services through an expert team of physician specialists, advanced surgical and treatment technology, and a culture of high quality patient care. ICON Eyecare’s facilities are located in the Denver, CO metro area, Grand Junction, CO and greater Dallas, TX regions and provide a range of eye care procedures and services, including cataract surgery, laser vision correction, corneal surgery, and a variety of treatments for glaucoma and retina conditions.

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Buyer(S) 1

Buyer

Cortec Group

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 2.1B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

Cortec Group, Inc. is a private equity firm focused on acquiring mid-sized businesses operating in basic industries. Cortec seeks companies with revenues of at least $25 million and generally looks for businesses with proprietary products or services in industries spanning manufacturing, distribution, and services. Cortec will not invest in retail stores, fashion products, software, capital intensive companies, or manufacturers of commodity products. The Cortec Group was formed in 1984 and is based in New York City.


DEAL STATS #
Overall 38 of 41
Sector (Healthcare Services) 5 of 5
Type (Recapitalization) 1 of 3
State (Colorado) 1 of 1
Country (United States) 37 of 40
Year (2016) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-31 Franklin Energy Services LLC

Port Washington, Wisconsin, United States

Franklin Energy Services LLC offers a seamless customer experience through energy efficiency and demand response program management services, as well as product fulfillment. Franklin Energy has a nationwide footprint and will leverage its 30 years of expertise as it continues delivering integrated customer engagement solutions alongside its implementation services and product solutions.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-15 Cranial Technologies, Inc.

Tempe, Arizona, United States

Cranial Technologies, Inc. engages in the treatment of plagiocephaly, or flat head syndrome, which typically manifests itself in infants 3 to 18 months of age. The Company’s skilled clinicians provide superior patient outcomes through a network of 37 treatment centers using a proprietary FDA-cleared cranial orthotic helmet, which is custom manufactured in-house.

Sell -