M&A Deal Summary

Cornell Capital and Constitution Capital Partners Acquire Advancing Eyecare

On May 9, 2022, private equity firms Cornell Capital and Constitution Capital Partners acquired medical products company Advancing Eyecare from Atlantic Street Capital and Harvest Partners

Acquisition Highlights
  • This is Cornell Capital’s 1st and Constitution Capital Partners’ 3rd transaction in the Medical Products sector.
  • This is Cornell Capital’s 12th and Constitution Capital Partners’ 73rd transaction in the United States.
  • This is Cornell Capital’s 2nd and Constitution Capital Partners’ 5th transaction in Florida.

M&A Deal Summary

Date 2022-05-09
Target Advancing Eyecare
Sector Medical Products
Buyer(s) Cornell Capital
Constitution Capital Partners
Sellers(s) Atlantic Street Capital
Harvest Partners
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)
Kramer Levin Naftalis & Frankel (Legal)

Target

Advancing Eyecare

Jacksonville, Florida, United States
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

Cornell Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2013
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cornell Capital is a private investment firm that seeks to partner with strong management teams to build businesses. Cornell Capital does not have any sector preferences and focuses on opportunities across the US. Cornell Capital was formed in 2013 and is based in New York City.


DEAL STATS #
Overall 14 of 17
Sector: Medical Products M&A 1 of 1
Type: Secondary Buyout M&A Deals 4 of 6
State: Florida M&A 2 of 2
Country: United States M&A 12 of 14
Year: 2022 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-29 Innovations in Nutrition + Wellness

Farmington, Utah, United States

Innovations in Nutrition + Wellness is a provider of differentiated nutritional and wellness products across multiple form factors, serving on-trend specialty health, functional food, immunity support, digestive health, holistic health, fit & active lifestyle, skincare and pet care markets. Innovations in Nutrition + Wellness was founded in 2014 and is based in Farmington, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-23 Advantek

Eden Prairie, Minnesota, United States

Advantek manufactures precision component packaging and delivery systems designed to transport and protect high-value semiconductor and electronic components during shipping and storage. Advantek was founded in 1978 and is based in Eden Prairie, Minnesota.

Buy -
Buyer
DESCRIPTION

Constitution Capital Partners is a private equity and asset management firm focused on opportunities throughout North America. Constitution Capital typically invests in private equity partnerships, however the Firm also makes direct private equity and credit investments. Constitution Capital Partners does not have any sector preferences. Constitution Capital Partners was formed in 2008 and is headquartered in Andover, Massachusetts.


DEAL STATS #
Overall 79 of 89
Sector: Medical Products M&A 3 of 3
Type: Secondary Buyout M&A Deals 34 of 40
State: Florida M&A 5 of 6
Country: United States M&A 73 of 83
Year: 2022 M&A 4 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-12 Vertical Supply Group

Greensboro, North Carolina, United States

Vertical Supply Group is a manufacturer, distributor, and direct e-commerce retailer of arborist tools, rescue and fall protection equipment. Vertical Supply Group was founded in1960 and is based in Greensboro, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-12 Amika

Brooklyn, New York, United States

Amika is a haircare brand offering salon-quality products and tools for all hair types. The company emphasizes inclusivity, sustainability, and clean, vegan, cruelty-free formulations, combining professional performance with a vibrant, modern brand identity. Amika was founded in 2009 and is based in Brooklyn, New York.

Buy -

Seller(S) 2

SELLER

Atlantic Street Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
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 7 of 11
Sector: Medical Products M&A 2 of 3
Type: Secondary Buyout M&A Deals 5 of 7
State: Florida M&A 3 of 4
Country: United States M&A 7 of 11
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-21 ACIS Innovative Solutions

McKinney, Texas, United States

ACIS Innovative Solutions is a provider of HVAC and plumbing maintenance services, including equipment design and replacement, vibration and oil analysis, retrofits and building automation. ACIS Innovative Solutions was founded in 2002 and is based in McKinney, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-13 CyberGuard Compliance

Las Vegas, Nevada, United States

CyberGuard Compliance provides non discretionary IT compliance and cybersecurity services including SOC, HITRUST and PCI audits, Vulnerability assessments, penetration testing and other compliance/cybersecurity services. CyberGuard Compliance was founded in 2011 and is based in Las Vegas, Nevada.

Buy -
SELLER

Harvest Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Harvest Partners is a Investment firm provides Private Equity and Structured Capital focused on buyout, growth capital, minority position, and non-control investments in middle-market public and private companies. Harvest Partners looks to invest in profitable ($30 to $300 million of EBITDA). Sectors of interest include business services, consumer services, healthcare, industrial services, manufacturing, marketing, building products and distribution companies valued between $100 and $1000 million. The Firm prefers opportunities headquartered in North America. Harvest Partners was formed in 1981 and is based in New York City.


DEAL STATS #
Overall 32 of 36
Sector: Medical Products M&A 2 of 2
Type: Secondary Buyout M&A Deals 17 of 19
State: Florida M&A 2 of 2
Country: United States M&A 28 of 32
Year: 2022 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-16 Convergint

Schaumburg, Illinois, United States

Convergint is a designer, installer, and services integrated building systems including electronic security, fire alarm, and life safety systems. Convergint was founded in 2001 and is based in Schaumburg, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-01 Acrisure

Grand Rapids, Michigan, United States

Acrisure is a retail insurance brokerage offering comprehensive risk management and consulting solutions, including property & casualty, employee benefits, human resource outsourcing, loss & claims management, surety bonding and personal lines coverage. Acrisure was founded in 2005 and is based in Grand Rapids, Michigan.

Sell -