M&A Deal Summary

Brazos Private Equity Partners Acquires Vision Source

On April 19, 2011, private equity firm Brazos Private Equity Partners acquired healthcare services company Vision Source from TLC Laser Eye Centers

Acquisition Highlights
  • This is Brazos Private Equity Partners’ 3rd transaction in the Healthcare Services sector.
  • This is Brazos Private Equity Partners’ 23rd transaction in the United States.
  • This is Brazos Private Equity Partners’ 11th transaction in Texas.
Investment Fate
  • Vision Source was sold to a strategic buyer in 2015.

M&A Deal Summary

Date 2011-04-19
Target Vision Source
Sector Healthcare Services
Buyer(s) Brazos Private Equity Partners
Sellers(s) TLC Laser Eye Centers
Deal Type Divestiture

Target

Vision Source

Kingwood, Texas, United States
Vision Source is an independent optometric franchising organization in North America, with a network of over 2,300 franchises across all 50 U.S. states and Canada, comprising more than 4,500 optometrists. The company offers its members attractive purchasing power, professional and staff development, and practice management assistance while allowing optometrists to maintain independence. Vision Source is led by an experienced management team that has grown revenue and earnings every year since beginning operations.

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Buyer(S) 1

Buyer

Brazos Private Equity Partners

Dallas, Texas, United States

Category Private Equity Firm
Founded 1999
PE ASSETS 1.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Brazos Private Equity Partners is a private investment firm that specializes in recapitalizations of family owned businesses, CEO led buy-and-build situations, non-core divestitures, and small cap take privates. Target companies generally have growing free cash-flow, sustainable competitive advantages, and a leading market position. Brazos looks to invest up to $100 million in companies with annual revenues between $25 and $250 million. Brazos primarily invests in consumer and business services, consumer products, restaurants and specialty retail, distribution, healthcare services, financial services, insurance, and manufacturing. Brazos targets opportunities located throughout the United States, with a particular emphasis on Texas and the Southwest US. Brazos was formed in 1999 and is based in Dallas, Texas.


DEAL STATS #
Overall 23 of 29
Sector: Healthcare Services M&A 3 of 3
Type: Divestiture M&A Deals 1 of 1
State: Texas M&A 11 of 13
Country: United States M&A 23 of 29
Year: 2011 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-07 National Surgical Care

Dallas, Texas, United States

National Surgical Care is a provide of non-emergency surgical procedures across a broad range of specialties including orthopedics/spine, ophthalmology, pain management, gastroenterology and otolaryngology. The Company operates these centers in partnership with 407 leading physicians around the United States. NSC has developed an operating model that makes it an attractive partner for physicians.

Sell $174M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-01 National Bankruptcy Services

Dallas, Texas, United States

National Bankruptcy Services is a provider of technology-enabled default management and bankruptcy processing solutions to financial institutions, credit unions, automobile lenders, and mortgage servicers in all 94 bankruptcy jurisdictions. National Bankruptcy Services was founded in 1999 and is based in Dallas, Texas.

Buy -

Seller(S) 1

SELLER

TLC Laser Eye Centers

Cincinnati, Ohio, United States

Category Company
Sector Healthcare Services
DESCRIPTION

TLC Laser Eye Centers is an eye care services company, providing eye doctors with the tools and technologies needed to deliver high-quality patient care. Through its centers' management, technology access service models, extensive optometric relationships, direct-to-consumer advertising and managed care contracting strength, TLC Laser Eye Centers maintains leading positions in refractive, cataract and eye care markets. TLC Laser Eye Centers is based in Cincinnati, Ohio.


DEAL STATS #
Overall 1 of 1
Sector: Healthcare Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Texas M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2011 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-07-01 Kremer Laser Eye Center

King of Prussia, Pennsylvania, United States

Kremer Laser Eye Center, Inc. provides eye surgery services in Pennsylvania, New Jersey, and Delaware.

Buy -