M&A Deal Summary

VSP Vision Acquires Eyemart Express

On October 9, 2024, VSP Vision acquired retailer Eyemart Express from FFL Partners and Leonard Green & Partners

Acquisition Highlights
  • This is VSP Vision’s 1st transaction in the Retail sector.
  • This is VSP Vision’s 2nd transaction in the United States.
  • This is VSP Vision’s 1st transaction in Texas.

M&A Deal Summary

Date 2024-10-09
Target Eyemart Express
Sector Retail
Buyer(s) VSP Vision
Sellers(s) FFL Partners
Leonard Green & Partners
Deal Type Add-on Acquisition

Target

Eyemart Express

Farmers Branch, Texas, United States
Eyemart Express is an independent, value-focused optical retailer with over 150 stores in more than 30 states. The company provides a broad selection of high-quality private label and branded frames with convenient one-hour service in all locations. Eyemart Express was formed in 1990 and is based in Farmers Branch, Texas.

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Buyer(S) 1

Buyer

VSP Vision

Rancho Cordova, California, United States

Category Company
Sector Consumer Services
DESCRIPTION

VSP Vision is a health-focused vision care company that empowers human potential through sight. The company's complementary businesses include VSP Vision Care, Marchon Eyewear, Inc., Visionworks, Eyefinity, Eyeconic, VSP Optics, and VSP Ventures. VSP Vision is based in Rancho Cordova, California.


DEAL STATS #
Overall 2 of 3
Sector: Retail M&A 1 of 2
Type: Add-on Acquisition M&A Deals 2 of 3
State: Texas M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-05 PECAA

Boca Raton, Florida, United States

PECAA is an alliance to provide purchasing services and management support to more than 10,000 independent U.S. eye care professionals. PECAA was founded in 2017 and is based in Boca Raton, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-05 Marcolin

Longarone, Spain

Marcolin is a provider in the branded eyewear sector with a portfolio comprising 16 market-leading brands and a distribution network spanning more than 80 countries. Marcolin was founded in 1961 and is based in Longarone, Spain.

Buy -

Seller(S) 2

SELLER

FFL Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 6.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

FFL Partners (formerly known as Friedman Fleischer & Lowe) is a private equity group focused on majority and minority investments in North American middle-market companies. Prospective businesses generally have revenues of $30 to $400 million and are valued between $50 and $300 million. Target situations include ownership restructurings in closely-held and family-owned companies, management buyouts, PIPEs, growth equity fundings, take privates, special situations, and recapitalizations. Sectors of interest include outsourced business services, education and training, marketing and media, consumer products, healthcare, and financial services. FFL Partners was formed in 1997 and is based in San Francisco, California.


DEAL STATS #
Overall 32 of 32
Sector: Retail M&A 1 of 1
Type: Add-on Acquisition M&A Deals 10 of 10
State: Texas M&A 3 of 3
Country: United States M&A 30 of 30
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-10 Medicus IT

Alpharetta, Georgia, United States

Medicus IT is an IT healthcare-focused managed service provider. Medicus advise practices on how to establish secure, HIPAA compliant, and efficient IT solutions, while continually working alongside them to manage IT operations, further increasing efficiency and stability. Medicus IT was founded in 2004 and is based in Alpharetta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-23 Janus

Montgomery, Alabama, United States

Janus is a behavioral pharmacy that serves long-term care patients with serious mental illness (“SMI”). The company provides comprehensive pharmacy services, including the management of complex medication dispensing, advanced delivery solutions, and on-site injections. It also offers clinical consulting, 24-hour pharmacist support, and specialized compliance packaging solutions. Janus was formed in 2016 and is based in Montgomery, Alabama.

Buy -
SELLER

Leonard Green & Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 75.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Leonard Green & Partners is a mega-sized private equity firm that invests in established companies that are leaders in their respective markets. Leonard Green will consider investments in consumer and business services, consumer products, distribution, media, and retail. Typical transaction values for acquisitions are between $500 million and $2 billion, however, the firm is capable of closing transactions valued up to $5 billion. Types of transactions include public-to-private, recapitalizations of privately held businesses, growth capital, equity capital to facilitate acquisitions, turnarounds/restructurings, and acquisitions of divisions/assets from large corporations. Leonard Green & Partners was formed in 1989 and is based in Los Angeles, California.


DEAL STATS #
Overall 54 of 54
Sector: Retail M&A 15 of 15
Type: Add-on Acquisition M&A Deals 10 of 10
State: Texas M&A 9 of 9
Country: United States M&A 51 of 51
Year: 2024 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-26 GeoStabilization

Commerce City, Colorado, United States

GeoStabilization is a provider of complex geotechnical maintenance services for critical infrastructure across the U.S. and Canada. The company develops and implements innovative solutions that protect from dangers associated with geohazards that have either caused or have the potential to cause, catastrophic infrastructure failures and significant economic disruption. GeoStabilization was founded in 2002 and is based in Commerce City, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-15 Crunch

New York, New York, United States

Crunch is a gym that believes in making serious exercise fun by fusing fitness and entertainment and pioneering a philosophy of 'No Judgments.' Crunch serves a fitness community for all types of people, with all types of goals, exercising all different ways; working out at the same place together. Crunch was founded in 1989 and is based in New York City.

Buy -