Brazos Private Equity Partners will acquire the stake in Vision Source, the optometric franchise, that was acquired by HIG Capital and Charlesbank Capital Partners just 18 months ago. The sponsors reorganized TLC Vision after the company filed Chapter 11. Specifics on the deal were not made public.
H.I.G. and Charlesbank Sell Interest in Vision Source to Brazos Private Equity Partners
Boston, MA, November 10, 2011 H.I.G. Capital and Charlesbank Capital Partners acquired their stake in Vision Source in May 2010 when they purchased TLC Vision, a Minneapolis based eye-care services company.
Vision Source is a leading independent optometric franchising organization. The Company has a network of more than 2,300 franchises across Canada and all 50 U.S. states. The Company offers its members attractive purchasing power, practice management assistance and professional development. Led by an experienced management team, Vision Source has grown revenue and earnings each year since they began operations.
H.I.G. Capital and Charlesbank Capital were awarded the “Turnaround of the Year (Lower Middle Market)” award in March 2011. The award was for the Chapter 11 reorganization of TLC Vision.
H.I.G. Capital is a leading global private equity investment firm based in Miami. The firm has more than $8.5 billion of capital under management. H.I.G. specializes in providing capital to small and medium sized businesses and has offices in Atlanta, Boston, New York and San Francisco, as well as Hamburg, London and Paris in Europe.