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June 27, 2024

Greenix Pest Control Expands Presence with Acquisition of Insight Pest Solutions

Dallas, TX – June 27, 2024Greenix Pest Control, the 14th largest pest control provider in the U.S., is proud to announce its recent acquisition of certain regional operations of Insight Pest Solutions in American Fork, UT. This most recent strategic acquisition in the Wisconsin, Ohio and Indiana regions marks a significant step in Greenix's ongoing expansion and further enhances its presence in the upper Midwest.

With the addition of Insight Pest Solutions, Greenix now operates in 19 states, protecting over 200,000 households across the Mid-Atlantic, Midwest, Northeast, and its home state of Utah, where the company is headquartered. Since its establishment in 2011, Greenix has earned a distinguished reputation for delivering trusted, sustainable, and highly effective pest control services within the communities it serves.

Bob Nilsen, Chairman and CEO of Greenix, expressed his enthusiasm about the acquisition, stating, "We couldn't be more excited to welcome the Insight team to the Greenix Family. Our ongoing commitment to providing customers with award-winning effective solutions remains true. We believe every customer deserves a service that is not only incredibly effective but environmentally responsible. This new partnership integrates seamlessly with our operations, offering an exciting opportunity for both customers and employees alike."

Greenix Pest Control was recently ranked as the 14th largest pest control provider in the U.S. by PCT Magazine, boasting over a decade of industry experience. The company offers a variety of premium services, such as general pest and rodent removal, along with tick, flea, and mosquito control. Greenix currently operates in 19 states and employs over 1,000 people nationwide.

About Riata Capital Group, LLC

RCG is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately held companies with a focus on three industry sectors: business services, consumer, and healthcare services. Riata takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of RCG have deployed over $2 billion of capital into more than 45 platforms and 350 add-on acquisitions totaling over $7 billion in transaction value. The Firm targets equity investments of $25-150 million in companies with $5-30 million of EBITDA. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm’s targeted sectors, Riata provides a compelling value proposition to business owners and entrepreneurs.

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May 20, 2024

Riata Capital Group Closes RCG Equity Fund II at $285 Million, Exceeding Target

Dallas, TX – May 20, 2024 - Riata Capital Group (“RCG” or the “Firm”), a private equity firm focused on control investments in the lower middle market, today announced it has successfully closed RCG Equity Fund II, LP (“RCG II”) with commitments of $285 million, exceeding the Firm’s hard cap. RCG II will target six platform companies within the Firm’s three industry sectors of business services, consumer, and healthcare services. RCG has made three platform investments from RCG II and is approximately 50% deployed. As of March 31st 2024, RCG’s assets under management exceeded $1 billion[1].

Jeff Fronterhouse, Managing Partner of RCG, said, “We are very pleased with the support of both our existing and new limited partners, allowing us to exceed our target and hard cap in what is a challenging fundraising market. We attribute this to the compelling performance of the investments we’ve made from RCG II, as well as delivering liquidity and value creation across the rest of our portfolio. RCG is well-positioned to complete the deployment of RCG II; as well as execute the larger strategy of building the Firm into a market-leading manager in the lower-end of the middle market, delivering strong and consistent results to our investors.”

Since its founding, RCG has raised approximately $695 million of equity capital across primary funds and co-investment partnerships, invested $544 million, and delivered significant liquidity to investors. Through March 31st 2024, the Firm has increased the EBITDA of its platform investments more than 5x since acquisition. The Firm will continue to target equity investments of $25-$150 million in companies with $5-$30 million of EBITDA in RCG II.

RCG was advised by Raymond James Private Capital Advisory and Probitas Partners.

About Riata Capital Group

RCG is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately held companies with a focus on three industry sectors - business services, consumer, and healthcare services. The Firm takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of RCG have deployed over $2 billion of capital into more than 45 platforms and 300 add-on acquisitions totaling over $7 billion in transaction value. For more information, visit www.riatacapital.com.

[1] The values of unrealized investments are unaudited as of March 31, 2024, and are inherently uncertain and subject to change. There is no guarantee that such value will be ultimately realized by an investment or that such value reflects the actual value of the investment. Actual realized proceeds on unrealized investments will depend on, among other factors, future operating costs, the value of the assets and market conditions at the time of disposition, any related transaction costs, and the timing and manner of sale, all of which may differ from the assumptions on which the valuations reflected in the historical performance data contained herein are based. Accordingly, the actual realized proceeds on these unrealized investments may differ materially from the returns indicated herein and there can be no assurance that these values will ultimately be realized upon disposition of investments. Different methods of valuing investments and calculating returns may also provide materially different results.

These materials are strictly confidential and have been prepared solely for the information of the intended recipient. They are not to be reproduced in whole or in part or used for any other purpose except as authorized by Riata Capital Group (“RCG”). Reproduction and distribution of these material may constitute a violation of federal or state securities laws. By accepting these materials, you and your representative agree to keep all of the information contained herein (together with any copies or extracts thereof) confidential to be bound by these confidentiality provisions.

Unless otherwise noted, the information contained herein has been compiled and estimated as of the date of this letter, and there is no obligation to update the information. The delivery of these materials will under no circumstances create any implication that the information herein has been updated or corrected as of any time after the date of publication or the date as of which such information is stated.

Any forecasts and estimates (including, without limitation, any projected rates of return) contained herein are necessarily speculative in nature, involve elements of subjective judgment and analysis, and are based upon certain assumptions and the best judgment of RCG. It can be expected that some or all of such assumptions will not materialize or will vary significantly from actual results. Accordingly, these projections are only an estimate. Actual results will differ and may vary substantially from the results shown herein or projected. Riata’s projected performance information is not a prediction or projection of actual results.

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January 30, 2024

Riata Capital Group Sells Extract Companies to NOV

Dallas, TX – January 30, 2024 – Riata Capital Group (“Riata” or “RCG”) today announced it has sold Extract Companies, LLC (“Extract” or the “Company”), a fully-integrated provider of artificial lift systems and related parts and services to North American energy producers, to NOV (NYSE: NOV), a provider of technology-driven solutions to empower the global energy industry. Terms of the sale were not disclosed.

Since its inception in late 2017, under Riata’s ownership, Extract grew from less than $10 million of revenue serving smaller independent energy producers in the Mid-Continent region from two facilities in Tulsa, OK to approximately$250 million in revenues serving all the major and larger independent producers in the U.S. in the Permian, Mid-Continent, and Bakken regions from nine facilities.  In addition to providing best-in-class service and operating results for its customers, Extract leverages patented, proprietary technologies in its electrical submersible pump (ESP) service offerings that are differentiated in the market and continue to support continued market share gains within the Artificial Lift market.

“It was a pleasure to work once again with Extract CEO Brad Goebel and his outstanding team of operators to grow the Company into a market leader in the artificial lift category,” said Barron Fletcher, Managing Partner at Riata. “We are proud of the management team’s exceptional execution and pleased to facilitate the sale of Extract to NOV, an energy technology leader that recognizes Extract’s success, the value of its products, and the Extract team’s experience, knowledge, relationships, and capabilities. This investment was a resounding success, and we are very pleased with the outcome for Riata and our investors.”

“We appreciate our strong partnership with the Riata team, with whom we built our prior platform, Accelerated Production, which was purchased by Dover,” said Brad Goebel, Chairman and CEO of Extract.  “We are proud to have built the leading technology-enabled provider of ESP systems, equipment and services in the U.S. Artificial Lift market and to have found the right home for Extract for its next phase of growth.”

“We are entering an exciting period for Extract, as NOV is positioned to provide a platform for continued excellence in customer service,”said Matt Gipson, Senior Vice-President of Extract, an NOV company. “Extract’s reputation for market-leading customer service and focus on maximizing run-time of electric submersible pumps has established the company as a key partner for operators looking to maximize the economic returns of their assets.”

About Riata Capital Group 

RCG is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately held companies with a focus on three industry sectors: business services, consumer, and healthcare services. Riata takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of RCG have deployed over $2 billion of capital into more than 45 platforms and 200 add-on acquisitions totaling over $7 billion in transaction value. The Firm targets equity investments of $25-150 million in companies with $5-30 million of EBITDA. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm’s targeted sectors, Riata provides a compelling value proposition to business owners and entrepreneurs. For more information, please visit www.riatacapital.com.

About Extract Companies

Extract is a leading provider of artificial lift products and services for producers in the Permian Basin, Mid-Con, and Bakken regions. The Company designs, manufactures, installs and services a full suite of electric submersible pump ("ESP") products, ultra-high speed permanent magnetic motor ESPs and surface pump systems. Headquartered in Tulsa, Oklahoma, Extract began operations in 2017 and currently services its customers out of nine facilities in Oklahoma, Texas, Colorado, and North Dakota.

About NOV

NOV (NYSE:NOV) is a leading independent equipment and technology provider with an extensive proprietary technology portfolio supporting the global oil and gas industry’s full-field drilling, completion, and production needs. NOV serves major-diversified, national, and independent service companies, contractors, and energy producers in 62 countries, operating under three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. NOV is headquartered in Houston, Texas.

Media Contact:

Jeremy Milner

BackBay Communications

(401) 862-9422

Jeremy.milner@backbaycommunications.com

 

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December 31, 2023

AEG Vision Announces it has Surpassed 400 Optometry Practices

Dallas, TX – December 31, 2023 – Riata Capital Group (“Riata” or “RCG”) portfolio company AEG Vision (“AEG” or the “Company”), an owner and operator of leading U.S. eyecare practices, announced that its network has surpassed 400 practices. Year to date in 2023, AEG reached another record of exceeding 71 new practices.

“AEG Vision's network surpassed 400 optometry practices during 2023," said Eric Anderson, CEO of AEG Vision. "Our ongoing initiatives to expand our network and invest in our practices now enables our community of 4,000 doctors and associates to deliver elevated levels of eyecare to more than 2 million patients each year."

Within the eyecare market, AEG is positioned as a community-based, doctor-centric eyecare platform that provides full-scope optometric services and a comprehensive selection of lenses, frames and contacts lenses. The Company carefully screens its practices to ensure they complement AEG’s market positioning.

“After its founding in 2017 with approximately 60 locations, AEG today has a national presence with high-quality optometry practices in attractive markets throughout the country,” Jeff Fronterhouse, Managing Partner of RCG, said. “We are very pleased with AEG’s consistent financial performance and track record of building strong relationships with the Company’s doctors, associates, and staff. We continue to work toward our goal of building AEG into the market-leading eyecare platform in the U.S.”

About AEG Vision

AEG Vision is a rapidly-growing community of wholly-owned eyecare practices that deliver full-scope optometric services coupled with a well-run retail dispensary. The core purpose that unifies AEG’s doctors and associates is to “improve the health of our community by helping our neighbors see better and look their best, one patient at a time”. To achieve this, AEG strives to maintain the local essence of each practice that has made it successful. At the same time, AEG enables each practice to elevate its operations by leveraging AEG’s “Common Platform”. Founded in March 2017, AEG currently operates approximately over 400 practices operating under different regional brands across 24 states.

About Riata Capital Group, LLC

RCG is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately held companies with a focus on three industry sectors: business services, consumer, and healthcare services. Riata takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of RCG have deployed over $2 billion of capital into more than 45 platforms and 200 add-on acquisitions totaling over $7 billion in transaction value. The Firm targets equity investments of $25-150 million in companies with $5-30 million of EBITDA. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm’s targeted sectors, Riata provides a compelling value proposition to business owners and entrepreneurs.

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November 27, 2023

Greenix Pest Control Expands Presence with Acquisition of Bamboo Pest Control

Dallas, TX – November 27, 2023 – Greenix Pest Control, the 12th largest independent pest control provider in the U.S., is pleased to announce its recent acquisition of Bamboo Pest Control in Ft. Wayne, Indiana. This acquisition marks another strategic step in Greenix's ongoing expansion and enhances its presence in the upper Midwest.

With the addition of Bamboo Pest Control, Greenix now operates in 18 states, serving over 180,000 households across the Mid-Atlantic, Midwest, Northeast, and its home state of Utah, where the company is headquartered. Since its establishment in 2011, Greenix has earned a distinguished reputation for delivering trusted, sustainable, and highly effective pest control services within the communities it serves.

Bob Nilsen, Chairman and CEO of Greenix, expressed his enthusiasm about the acquisition, stating, "We couldn't be more excited to welcome the Bamboo team to the Greenix Family. Our ongoing commitment to providing customers with a world-class pest control service remains true. We believe every customer deserves a service that is not only incredibly effective but environmentally responsible. This new partnership works seamlessly with our footprint, and our corporate cultures mesh very well. This is an exciting opportunity for both customers and employees alike."

With over a decade of experience, Greenix offers a range of premium pest control services, including general pest and rodent removal, as well as tick, flea, and mosquito control. Greenix currently operates in 18 states and employs over 1,000 employees nationwide.

About Riata Capital Group, LLC

RCG is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately held companies with a focus on three industry sectors: business services, consumer, and healthcare services. Riata takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of RCG have deployed over $2 billion of capital into more than 45 platforms and 200 add-on acquisitions totaling over $7 billion in transaction value. The Firm targets equity investments of $25-150 million in companies with $5-30 million of EBITDA. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm’s targeted sectors, Riata provides a compelling value proposition to business owners and entrepreneurs.

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October 10, 2023

Jeffrey Porter Joins Riata Capital Group as a Managing Director

Dallas, TX – October 10, 2023 – Riata Capital Group (“Riata” or “RCG”), a Dallas-based private equity investment firm, announced today that Jeffrey Porter, a seasoned financial executive, joins Riata from WSS, a specialty retailer of athletic footwear and former RCG portfolio company. WSS operates more than 130 retail locations throughout the Hispanic communities of California, Nevada, Arizona, Texas, and Florida. Mr. Porter provided financial and strategic leadership across the WSS organization during a period of unprecedented growth and expansion, wherein earnings increased over 5x during Riata’s ownership and Mr. Porter’s leadership as CFO. 

Mr. Porter joins Riata as a Managing Director in the Firm’s Operations Group. He is responsible for providing financial, operational, information technology, and business analytics leadership to the Firm's portfolio companies. Mr. Porter will also assist the Firm with acquisition diligence, post-acquisition onboarding, and integration as well as portfolio company performance improvement activities. Mr. Porter will work closely with Jay Bradford, a Partner responsible for providing operational and financial leadership to the Firm’s portfolio companies, and Satish Dave, a Managing Director responsible for providing information technology and business analytics leadership to RCG's portfolio companies. 

Mr. Fletcher, Managing Partner of Riata, added, “We are excited to have Jeffrey join Riata. Our team worked very closely with Jeffrey throughout our investment in WSS. He played an integral role in the company’s success from an organizational, financial, and operational perspective, as well as our success with the sale of WSS to Foot Locker. Jeffrey is a terrific addition to our RCG Team.”

Mr. Porter added, “I am beyond thrilled to join the phenomenal team at Riata Capital Group. My experience working closely with Barron Fletcher and Jeff Fronterhouse for six years as CFO of WSS was nothing short of exceptional; the Riata team added significant strategic and operational value to the business, enabling the WSS management team to deliver tremendous results. I look forward to leveraging my operational and financial expertise to drive significant returns for the firm.”

About Riata Capital Group

RCG is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately held companies with a focus on three industry sectors: business services, consumer, and healthcare services. Riata takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of RCG have deployed over $2 billion of capital into more than 45 platforms and 200 add-on acquisitions totaling $7 billion in transaction value. The Firm targets equity investments of $25-150 million in companies with $5-30million of EBITDA. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm’s targeted sectors, Riata provides a compelling value proposition to business owners and entrepreneurs.

 

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May 1, 2023

Marla Cannon Joins Riata Capital Group to lead Business Development and Investor Relations

Dallas, TX – May 1, 2023 – Riata Capital Group (“Riata” or “RCG”), a Dallas-based private equity investment firm, today announced that Marla Cannon has joined as Managing Director – Business Development and Investor Relations. Ms. Cannon manages Riata’s relationships across a broad range of investment banks, sell-side advisors, alternative deal sources, and institutional investors supporting the firm’s continued investment and fundraising initiatives. Ms. Cannon comes to Riata with more than 15 years’ experience sourcing and executing principal investments within the private equity market. Prior to joining RCG, Ms. Cannon was Managing Director at HSBC, where she led Sponsor Coverage for the Technology Investment Banking group in New York. Previously, she was Senior Vice President with BBVA where she was instrumental in the origination and execution of private equity-backed transactions across all sectors. She also held investment roles with Fortress Investment Group and ORIX Capital. Ms. Cannon received a Bachelor of Business Administration degree from Southern Methodist University.

Jeff Fronterhouse, Managing Partner, commented, “On behalf of Riata, we are very excited to welcome Marla to the team. She brings significant experience and a breadth of relationships to the firm, and we look forward to her leadership in both business development and investor relations. Marla is a strategic addition to Riata and demonstrates our continued commitment to invest in key resources to expand our business and grow assets under management.”

“I am delighted to join the team at RCG,” Ms. Cannon added. Riata is well positioned to be a leading private equity firm in the lower end of the middle market. They have a strong track record, an exceptional team, and are focused on deploying capital to build substantial businesses. I look forward to leveraging my experience and contributing to the firm’s continued success.”

About Riata Capital Group

RCG is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately held companies with a focus on three industry sectors: business services, consumer, and healthcare services. The firm takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of RCG have deployed over $2 billion of capital into more than 45 platforms and 200 add-on acquisitions totaling in excess of $6.9 billion in transaction value. The firm targets equity investments of $25-150 million in companies with $5-30 million of EBITDA. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm’s targeted sectors, Riata provides a compelling value proposition to business owners and entrepreneurs.

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December 12, 2022

Riata Capital Group Leads Recapitalization of Salon Republic, A Leading Provider of Salon Suite Services to Beauty Care Professionals

Dallas, TX – December 12, 2022 – Riata Capital Group (“Riata” or “RCG”), a Dallas-based private equity investment firm, today announced that it has led the recapitalization of Salon Republic (“Salon Republic” or the “Company”) in partnership with Founder and CEO Eric Taylor and the Company’s management team. West Coast-based Salon Republic is a leading operator of company-owned salon suites that provides individual salon studio venues and value-added services to beauty care professionals (“BCPs”) in upscale environments in well-located, professionally managed locations. Riata’s investment will support Salon Republic’s accelerated geographic expansion and strategic growth plans.

Based in Woodland Hills, CA, Salon Republic currently operates 24 salon suite locations and supports over 2,500 BCPs across seven major markets in four western states. In addition to providing individual studio venues in high-demand locations, Salon Republic supports its BCPs with up-scale studio environments, on-site management, a well-curated selection of products, educational teach-ins and related events, and other value-added services. RCG’s investment will help Salon Republic meet the growing demand from BCPs for its differentiated model and is another example of Riata’s focus on investing in recurring-revenue business models bolstered by strong secular trends.

Barron Fletcher, Managing Partner of RCG, said, “We have been impressed by the differentiated platform that Eric Taylor and the Salon Republic team have built, developing the business into one of the leading providers of salon suites and value-added services to BCPs in their markets. As innovators in their space since 2000, Eric and his team have capitalized on strong demand from BCPs for the salon-suite model and consistently demonstrated their commitment to helping BCPs grow their business outside traditional salon formats. Their investment in management and support infrastructure has been a key contributor to their strong and consistent performance and should allow them to continue to scale the platform profitably. We look forward to contributing to their continued successful growth in existing markets and their entry into new ones.”

RCG Managing Partner, Jeff Fronterhouse, added, “We are excited to partner with such a well-positioned and well-managed platform. We believe Eric and the Salon Republic leadership team have built an impressive business with a differentiated service offering and a strong economic model. Salon Republic locations are designed to meet the strong secular demand from BCPs seeking the independence, autonomy, and economic advantages of having their own business in upscale environments with value-added services offerings and stimulating overall beauty care ecosystems. We expect to continue to deploy additional capital in the platform to support the Company’s continued organic expansion along with pursuing strategic add-on acquisitions.”

Eric Taylor, CEO of Salon Republic, concluded, “We are excited to have Riata as our investment partner. We have had the fortune of collaborating with them on the business for a number of years prior to this investment and believe they are one of the strongest and most-successful investors in consumer platforms in private equity today. They are a great fit for our company culturally and strategically. Since founding Salon Republic in 2000, our goal has been to build the leading provider of salon suite services in our markets differentiated on quality, service, and customer satisfaction. Our customers, managers and teams in the field know they have our 100% commitment, which has been a cornerstone of our success to date. Our partnership with Riata will build upon this commitment as they bring considerable experience and resources to help us continue expanding the business while allowing us to remain true to our mission and vision.”

About Riata Capital Group

RCG is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately held companies with a focus on three industry sectors: business services, consumer and healthcare services. The firm takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and track record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of RCG have deployed over $2 billion of capital into more than 200 acquisitions totaling in excess of $6.8 billion in transaction value. The firm targets equity investments of $25-150 million in companies with $5-30 million of EBITDA. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm’s targeted sectors, we believe Riata provides a compelling value proposition to business owners and entrepreneurs.

About Salon Republic

Salon Republic is a leading operator of company-owned salon suites that provide individual salon studio venues and value-added services to beauty care professionals in seven large western markets clustered in California, Colorado, Texas and Washington. The Company provides a full range of services to its stylists, including individual private salon studios, complimentary linen services, on-site product selection, full time on-site management, educational teach-ins and related events, among other services. Since opening its first location in Studio City, CA in 2000, Salon Republic has grown to 24 locations today while staying true to its total dedication to providing the highest quality suite of services and environment for both its stylists and their customers and building the strongest brand in its local market areas. For more information, please visit https://www.salonrepublic.com.

Contact:

Jonathan Morgan

Kekst CNC

(212) 521-4800

Jonathan.morgan@kekstcnc.com

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June 27, 2024

Greenix Pest Control Expands Presence with Acquisition of Insight Pest Solutions

Dallas, TX – June 27, 2024Greenix Pest Control, the 14th largest pest control provider in the U.S., is proud to announce its recent acquisition of certain regional operations of Insight Pest Solutions in American Fork, UT. This most recent strategic acquisition in the Wisconsin, Ohio and Indiana regions marks a significant step in Greenix's ongoing expansion and further enhances its presence in the upper Midwest.

With the addition of Insight Pest Solutions, Greenix now operates in 19 states, protecting over 200,000 households across the Mid-Atlantic, Midwest, Northeast, and its home state of Utah, where the company is headquartered. Since its establishment in 2011, Greenix has earned a distinguished reputation for delivering trusted, sustainable, and highly effective pest control services within the communities it serves.

Bob Nilsen, Chairman and CEO of Greenix, expressed his enthusiasm about the acquisition, stating, "We couldn't be more excited to welcome the Insight team to the Greenix Family. Our ongoing commitment to providing customers with award-winning effective solutions remains true. We believe every customer deserves a service that is not only incredibly effective but environmentally responsible. This new partnership integrates seamlessly with our operations, offering an exciting opportunity for both customers and employees alike."

Greenix Pest Control was recently ranked as the 14th largest pest control provider in the U.S. by PCT Magazine, boasting over a decade of industry experience. The company offers a variety of premium services, such as general pest and rodent removal, along with tick, flea, and mosquito control. Greenix currently operates in 19 states and employs over 1,000 people nationwide.

About Riata Capital Group, LLC

RCG is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately held companies with a focus on three industry sectors: business services, consumer, and healthcare services. Riata takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of RCG have deployed over $2 billion of capital into more than 45 platforms and 350 add-on acquisitions totaling over $7 billion in transaction value. The Firm targets equity investments of $25-150 million in companies with $5-30 million of EBITDA. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm’s targeted sectors, Riata provides a compelling value proposition to business owners and entrepreneurs.

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May 20, 2024

Riata Capital Group Closes RCG Equity Fund II at $285 Million, Exceeding Target

Dallas, TX – May 20, 2024 - Riata Capital Group (“RCG” or the “Firm”), a private equity firm focused on control investments in the lower middle market, today announced it has successfully closed RCG Equity Fund II, LP (“RCG II”) with commitments of $285 million, exceeding the Firm’s hard cap. RCG II will target six platform companies within the Firm’s three industry sectors of business services, consumer, and healthcare services. RCG has made three platform investments from RCG II and is approximately 50% deployed. As of March 31st 2024, RCG’s assets under management exceeded $1 billion[1].

Jeff Fronterhouse, Managing Partner of RCG, said, “We are very pleased with the support of both our existing and new limited partners, allowing us to exceed our target and hard cap in what is a challenging fundraising market. We attribute this to the compelling performance of the investments we’ve made from RCG II, as well as delivering liquidity and value creation across the rest of our portfolio. RCG is well-positioned to complete the deployment of RCG II; as well as execute the larger strategy of building the Firm into a market-leading manager in the lower-end of the middle market, delivering strong and consistent results to our investors.”

Since its founding, RCG has raised approximately $695 million of equity capital across primary funds and co-investment partnerships, invested $544 million, and delivered significant liquidity to investors. Through March 31st 2024, the Firm has increased the EBITDA of its platform investments more than 5x since acquisition. The Firm will continue to target equity investments of $25-$150 million in companies with $5-$30 million of EBITDA in RCG II.

RCG was advised by Raymond James Private Capital Advisory and Probitas Partners.

About Riata Capital Group

RCG is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately held companies with a focus on three industry sectors - business services, consumer, and healthcare services. The Firm takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of RCG have deployed over $2 billion of capital into more than 45 platforms and 300 add-on acquisitions totaling over $7 billion in transaction value. For more information, visit www.riatacapital.com.

[1] The values of unrealized investments are unaudited as of March 31, 2024, and are inherently uncertain and subject to change. There is no guarantee that such value will be ultimately realized by an investment or that such value reflects the actual value of the investment. Actual realized proceeds on unrealized investments will depend on, among other factors, future operating costs, the value of the assets and market conditions at the time of disposition, any related transaction costs, and the timing and manner of sale, all of which may differ from the assumptions on which the valuations reflected in the historical performance data contained herein are based. Accordingly, the actual realized proceeds on these unrealized investments may differ materially from the returns indicated herein and there can be no assurance that these values will ultimately be realized upon disposition of investments. Different methods of valuing investments and calculating returns may also provide materially different results.

These materials are strictly confidential and have been prepared solely for the information of the intended recipient. They are not to be reproduced in whole or in part or used for any other purpose except as authorized by Riata Capital Group (“RCG”). Reproduction and distribution of these material may constitute a violation of federal or state securities laws. By accepting these materials, you and your representative agree to keep all of the information contained herein (together with any copies or extracts thereof) confidential to be bound by these confidentiality provisions.

Unless otherwise noted, the information contained herein has been compiled and estimated as of the date of this letter, and there is no obligation to update the information. The delivery of these materials will under no circumstances create any implication that the information herein has been updated or corrected as of any time after the date of publication or the date as of which such information is stated.

Any forecasts and estimates (including, without limitation, any projected rates of return) contained herein are necessarily speculative in nature, involve elements of subjective judgment and analysis, and are based upon certain assumptions and the best judgment of RCG. It can be expected that some or all of such assumptions will not materialize or will vary significantly from actual results. Accordingly, these projections are only an estimate. Actual results will differ and may vary substantially from the results shown herein or projected. Riata’s projected performance information is not a prediction or projection of actual results.

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January 30, 2024

Riata Capital Group Sells Extract Companies to NOV

Dallas, TX – January 30, 2024 – Riata Capital Group (“Riata” or “RCG”) today announced it has sold Extract Companies, LLC (“Extract” or the “Company”), a fully-integrated provider of artificial lift systems and related parts and services to North American energy producers, to NOV (NYSE: NOV), a provider of technology-driven solutions to empower the global energy industry. Terms of the sale were not disclosed.

Since its inception in late 2017, under Riata’s ownership, Extract grew from less than $10 million of revenue serving smaller independent energy producers in the Mid-Continent region from two facilities in Tulsa, OK to approximately$250 million in revenues serving all the major and larger independent producers in the U.S. in the Permian, Mid-Continent, and Bakken regions from nine facilities.  In addition to providing best-in-class service and operating results for its customers, Extract leverages patented, proprietary technologies in its electrical submersible pump (ESP) service offerings that are differentiated in the market and continue to support continued market share gains within the Artificial Lift market.

“It was a pleasure to work once again with Extract CEO Brad Goebel and his outstanding team of operators to grow the Company into a market leader in the artificial lift category,” said Barron Fletcher, Managing Partner at Riata. “We are proud of the management team’s exceptional execution and pleased to facilitate the sale of Extract to NOV, an energy technology leader that recognizes Extract’s success, the value of its products, and the Extract team’s experience, knowledge, relationships, and capabilities. This investment was a resounding success, and we are very pleased with the outcome for Riata and our investors.”

“We appreciate our strong partnership with the Riata team, with whom we built our prior platform, Accelerated Production, which was purchased by Dover,” said Brad Goebel, Chairman and CEO of Extract.  “We are proud to have built the leading technology-enabled provider of ESP systems, equipment and services in the U.S. Artificial Lift market and to have found the right home for Extract for its next phase of growth.”

“We are entering an exciting period for Extract, as NOV is positioned to provide a platform for continued excellence in customer service,”said Matt Gipson, Senior Vice-President of Extract, an NOV company. “Extract’s reputation for market-leading customer service and focus on maximizing run-time of electric submersible pumps has established the company as a key partner for operators looking to maximize the economic returns of their assets.”

About Riata Capital Group 

RCG is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately held companies with a focus on three industry sectors: business services, consumer, and healthcare services. Riata takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of RCG have deployed over $2 billion of capital into more than 45 platforms and 200 add-on acquisitions totaling over $7 billion in transaction value. The Firm targets equity investments of $25-150 million in companies with $5-30 million of EBITDA. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm’s targeted sectors, Riata provides a compelling value proposition to business owners and entrepreneurs. For more information, please visit www.riatacapital.com.

About Extract Companies

Extract is a leading provider of artificial lift products and services for producers in the Permian Basin, Mid-Con, and Bakken regions. The Company designs, manufactures, installs and services a full suite of electric submersible pump ("ESP") products, ultra-high speed permanent magnetic motor ESPs and surface pump systems. Headquartered in Tulsa, Oklahoma, Extract began operations in 2017 and currently services its customers out of nine facilities in Oklahoma, Texas, Colorado, and North Dakota.

About NOV

NOV (NYSE:NOV) is a leading independent equipment and technology provider with an extensive proprietary technology portfolio supporting the global oil and gas industry’s full-field drilling, completion, and production needs. NOV serves major-diversified, national, and independent service companies, contractors, and energy producers in 62 countries, operating under three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. NOV is headquartered in Houston, Texas.

Media Contact:

Jeremy Milner

BackBay Communications

(401) 862-9422

Jeremy.milner@backbaycommunications.com

 

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December 31, 2023

AEG Vision Announces it has Surpassed 400 Optometry Practices

Dallas, TX – December 31, 2023 – Riata Capital Group (“Riata” or “RCG”) portfolio company AEG Vision (“AEG” or the “Company”), an owner and operator of leading U.S. eyecare practices, announced that its network has surpassed 400 practices. Year to date in 2023, AEG reached another record of exceeding 71 new practices.

“AEG Vision's network surpassed 400 optometry practices during 2023," said Eric Anderson, CEO of AEG Vision. "Our ongoing initiatives to expand our network and invest in our practices now enables our community of 4,000 doctors and associates to deliver elevated levels of eyecare to more than 2 million patients each year."

Within the eyecare market, AEG is positioned as a community-based, doctor-centric eyecare platform that provides full-scope optometric services and a comprehensive selection of lenses, frames and contacts lenses. The Company carefully screens its practices to ensure they complement AEG’s market positioning.

“After its founding in 2017 with approximately 60 locations, AEG today has a national presence with high-quality optometry practices in attractive markets throughout the country,” Jeff Fronterhouse, Managing Partner of RCG, said. “We are very pleased with AEG’s consistent financial performance and track record of building strong relationships with the Company’s doctors, associates, and staff. We continue to work toward our goal of building AEG into the market-leading eyecare platform in the U.S.”

About AEG Vision

AEG Vision is a rapidly-growing community of wholly-owned eyecare practices that deliver full-scope optometric services coupled with a well-run retail dispensary. The core purpose that unifies AEG’s doctors and associates is to “improve the health of our community by helping our neighbors see better and look their best, one patient at a time”. To achieve this, AEG strives to maintain the local essence of each practice that has made it successful. At the same time, AEG enables each practice to elevate its operations by leveraging AEG’s “Common Platform”. Founded in March 2017, AEG currently operates approximately over 400 practices operating under different regional brands across 24 states.

About Riata Capital Group, LLC

RCG is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately held companies with a focus on three industry sectors: business services, consumer, and healthcare services. Riata takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of RCG have deployed over $2 billion of capital into more than 45 platforms and 200 add-on acquisitions totaling over $7 billion in transaction value. The Firm targets equity investments of $25-150 million in companies with $5-30 million of EBITDA. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm’s targeted sectors, Riata provides a compelling value proposition to business owners and entrepreneurs.

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November 27, 2023

Greenix Pest Control Expands Presence with Acquisition of Bamboo Pest Control

Dallas, TX – November 27, 2023 – Greenix Pest Control, the 12th largest independent pest control provider in the U.S., is pleased to announce its recent acquisition of Bamboo Pest Control in Ft. Wayne, Indiana. This acquisition marks another strategic step in Greenix's ongoing expansion and enhances its presence in the upper Midwest.

With the addition of Bamboo Pest Control, Greenix now operates in 18 states, serving over 180,000 households across the Mid-Atlantic, Midwest, Northeast, and its home state of Utah, where the company is headquartered. Since its establishment in 2011, Greenix has earned a distinguished reputation for delivering trusted, sustainable, and highly effective pest control services within the communities it serves.

Bob Nilsen, Chairman and CEO of Greenix, expressed his enthusiasm about the acquisition, stating, "We couldn't be more excited to welcome the Bamboo team to the Greenix Family. Our ongoing commitment to providing customers with a world-class pest control service remains true. We believe every customer deserves a service that is not only incredibly effective but environmentally responsible. This new partnership works seamlessly with our footprint, and our corporate cultures mesh very well. This is an exciting opportunity for both customers and employees alike."

With over a decade of experience, Greenix offers a range of premium pest control services, including general pest and rodent removal, as well as tick, flea, and mosquito control. Greenix currently operates in 18 states and employs over 1,000 employees nationwide.

About Riata Capital Group, LLC

RCG is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately held companies with a focus on three industry sectors: business services, consumer, and healthcare services. Riata takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of RCG have deployed over $2 billion of capital into more than 45 platforms and 200 add-on acquisitions totaling over $7 billion in transaction value. The Firm targets equity investments of $25-150 million in companies with $5-30 million of EBITDA. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm’s targeted sectors, Riata provides a compelling value proposition to business owners and entrepreneurs.

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October 10, 2023

Jeffrey Porter Joins Riata Capital Group as a Managing Director

Dallas, TX – October 10, 2023 – Riata Capital Group (“Riata” or “RCG”), a Dallas-based private equity investment firm, announced today that Jeffrey Porter, a seasoned financial executive, joins Riata from WSS, a specialty retailer of athletic footwear and former RCG portfolio company. WSS operates more than 130 retail locations throughout the Hispanic communities of California, Nevada, Arizona, Texas, and Florida. Mr. Porter provided financial and strategic leadership across the WSS organization during a period of unprecedented growth and expansion, wherein earnings increased over 5x during Riata’s ownership and Mr. Porter’s leadership as CFO. 

Mr. Porter joins Riata as a Managing Director in the Firm’s Operations Group. He is responsible for providing financial, operational, information technology, and business analytics leadership to the Firm's portfolio companies. Mr. Porter will also assist the Firm with acquisition diligence, post-acquisition onboarding, and integration as well as portfolio company performance improvement activities. Mr. Porter will work closely with Jay Bradford, a Partner responsible for providing operational and financial leadership to the Firm’s portfolio companies, and Satish Dave, a Managing Director responsible for providing information technology and business analytics leadership to RCG's portfolio companies. 

Mr. Fletcher, Managing Partner of Riata, added, “We are excited to have Jeffrey join Riata. Our team worked very closely with Jeffrey throughout our investment in WSS. He played an integral role in the company’s success from an organizational, financial, and operational perspective, as well as our success with the sale of WSS to Foot Locker. Jeffrey is a terrific addition to our RCG Team.”

Mr. Porter added, “I am beyond thrilled to join the phenomenal team at Riata Capital Group. My experience working closely with Barron Fletcher and Jeff Fronterhouse for six years as CFO of WSS was nothing short of exceptional; the Riata team added significant strategic and operational value to the business, enabling the WSS management team to deliver tremendous results. I look forward to leveraging my operational and financial expertise to drive significant returns for the firm.”

About Riata Capital Group

RCG is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately held companies with a focus on three industry sectors: business services, consumer, and healthcare services. Riata takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of RCG have deployed over $2 billion of capital into more than 45 platforms and 200 add-on acquisitions totaling $7 billion in transaction value. The Firm targets equity investments of $25-150 million in companies with $5-30million of EBITDA. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm’s targeted sectors, Riata provides a compelling value proposition to business owners and entrepreneurs.

 

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May 1, 2023

Marla Cannon Joins Riata Capital Group to lead Business Development and Investor Relations

Dallas, TX – May 1, 2023 – Riata Capital Group (“Riata” or “RCG”), a Dallas-based private equity investment firm, today announced that Marla Cannon has joined as Managing Director – Business Development and Investor Relations. Ms. Cannon manages Riata’s relationships across a broad range of investment banks, sell-side advisors, alternative deal sources, and institutional investors supporting the firm’s continued investment and fundraising initiatives. Ms. Cannon comes to Riata with more than 15 years’ experience sourcing and executing principal investments within the private equity market. Prior to joining RCG, Ms. Cannon was Managing Director at HSBC, where she led Sponsor Coverage for the Technology Investment Banking group in New York. Previously, she was Senior Vice President with BBVA where she was instrumental in the origination and execution of private equity-backed transactions across all sectors. She also held investment roles with Fortress Investment Group and ORIX Capital. Ms. Cannon received a Bachelor of Business Administration degree from Southern Methodist University.

Jeff Fronterhouse, Managing Partner, commented, “On behalf of Riata, we are very excited to welcome Marla to the team. She brings significant experience and a breadth of relationships to the firm, and we look forward to her leadership in both business development and investor relations. Marla is a strategic addition to Riata and demonstrates our continued commitment to invest in key resources to expand our business and grow assets under management.”

“I am delighted to join the team at RCG,” Ms. Cannon added. Riata is well positioned to be a leading private equity firm in the lower end of the middle market. They have a strong track record, an exceptional team, and are focused on deploying capital to build substantial businesses. I look forward to leveraging my experience and contributing to the firm’s continued success.”

About Riata Capital Group

RCG is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately held companies with a focus on three industry sectors: business services, consumer, and healthcare services. The firm takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of RCG have deployed over $2 billion of capital into more than 45 platforms and 200 add-on acquisitions totaling in excess of $6.9 billion in transaction value. The firm targets equity investments of $25-150 million in companies with $5-30 million of EBITDA. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm’s targeted sectors, Riata provides a compelling value proposition to business owners and entrepreneurs.

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December 12, 2022

Riata Capital Group Leads Recapitalization of Salon Republic, A Leading Provider of Salon Suite Services to Beauty Care Professionals

Dallas, TX – December 12, 2022 – Riata Capital Group (“Riata” or “RCG”), a Dallas-based private equity investment firm, today announced that it has led the recapitalization of Salon Republic (“Salon Republic” or the “Company”) in partnership with Founder and CEO Eric Taylor and the Company’s management team. West Coast-based Salon Republic is a leading operator of company-owned salon suites that provides individual salon studio venues and value-added services to beauty care professionals (“BCPs”) in upscale environments in well-located, professionally managed locations. Riata’s investment will support Salon Republic’s accelerated geographic expansion and strategic growth plans.

Based in Woodland Hills, CA, Salon Republic currently operates 24 salon suite locations and supports over 2,500 BCPs across seven major markets in four western states. In addition to providing individual studio venues in high-demand locations, Salon Republic supports its BCPs with up-scale studio environments, on-site management, a well-curated selection of products, educational teach-ins and related events, and other value-added services. RCG’s investment will help Salon Republic meet the growing demand from BCPs for its differentiated model and is another example of Riata’s focus on investing in recurring-revenue business models bolstered by strong secular trends.

Barron Fletcher, Managing Partner of RCG, said, “We have been impressed by the differentiated platform that Eric Taylor and the Salon Republic team have built, developing the business into one of the leading providers of salon suites and value-added services to BCPs in their markets. As innovators in their space since 2000, Eric and his team have capitalized on strong demand from BCPs for the salon-suite model and consistently demonstrated their commitment to helping BCPs grow their business outside traditional salon formats. Their investment in management and support infrastructure has been a key contributor to their strong and consistent performance and should allow them to continue to scale the platform profitably. We look forward to contributing to their continued successful growth in existing markets and their entry into new ones.”

RCG Managing Partner, Jeff Fronterhouse, added, “We are excited to partner with such a well-positioned and well-managed platform. We believe Eric and the Salon Republic leadership team have built an impressive business with a differentiated service offering and a strong economic model. Salon Republic locations are designed to meet the strong secular demand from BCPs seeking the independence, autonomy, and economic advantages of having their own business in upscale environments with value-added services offerings and stimulating overall beauty care ecosystems. We expect to continue to deploy additional capital in the platform to support the Company’s continued organic expansion along with pursuing strategic add-on acquisitions.”

Eric Taylor, CEO of Salon Republic, concluded, “We are excited to have Riata as our investment partner. We have had the fortune of collaborating with them on the business for a number of years prior to this investment and believe they are one of the strongest and most-successful investors in consumer platforms in private equity today. They are a great fit for our company culturally and strategically. Since founding Salon Republic in 2000, our goal has been to build the leading provider of salon suite services in our markets differentiated on quality, service, and customer satisfaction. Our customers, managers and teams in the field know they have our 100% commitment, which has been a cornerstone of our success to date. Our partnership with Riata will build upon this commitment as they bring considerable experience and resources to help us continue expanding the business while allowing us to remain true to our mission and vision.”

About Riata Capital Group

RCG is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately held companies with a focus on three industry sectors: business services, consumer and healthcare services. The firm takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and track record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of RCG have deployed over $2 billion of capital into more than 200 acquisitions totaling in excess of $6.8 billion in transaction value. The firm targets equity investments of $25-150 million in companies with $5-30 million of EBITDA. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm’s targeted sectors, we believe Riata provides a compelling value proposition to business owners and entrepreneurs.

About Salon Republic

Salon Republic is a leading operator of company-owned salon suites that provide individual salon studio venues and value-added services to beauty care professionals in seven large western markets clustered in California, Colorado, Texas and Washington. The Company provides a full range of services to its stylists, including individual private salon studios, complimentary linen services, on-site product selection, full time on-site management, educational teach-ins and related events, among other services. Since opening its first location in Studio City, CA in 2000, Salon Republic has grown to 24 locations today while staying true to its total dedication to providing the highest quality suite of services and environment for both its stylists and their customers and building the strongest brand in its local market areas. For more information, please visit https://www.salonrepublic.com.

Contact:

Jonathan Morgan

Kekst CNC

(212) 521-4800

Jonathan.morgan@kekstcnc.com

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September 28, 2022

Riata Capital Group Portfolio Company AEG Vision Announces its Network has Surpassed 300 Practices

Dallas, TX – September 28, 2022 – Riata Capital Group (“Riata” or “RCG”) portfolio company AEG Vision (“AEG” or the “Company”), an owner and operator of leading North American eyecare practices, announced that its network has surpassed 300 practices. Year to date in 2022, AEG has completed 41 acquisitions, comprising 55 practices.

AEG now owns and operates 312 practices across 17 states. In 2022, AEG has entered 5 new states, including Florida, Massachusetts, Michigan, Indiana, and Wisconsin. AEG has a strong pipeline of letters of intent pending closing in 2022.

“We’re excited to reach the milestone of 300 optometry practices in our nationwide network,” Eric Anderson, CEO of AEG Vision, said. “This is a landmark event for us that validates AEG’s vision to build an eyecare platform comprised of a caring community of local providers that helps our neighbors take care of their vision, one patient at a time.”

Within the eyecare market, AEG is positioned as a community-based, doctor-centric eyecare platform that provides full-scope optometric services and a comprehensive selection of lenses, frames and contacts lenses. AEG carefully screens its practices to ensure they complement AEG’s market positioning.

“After its founding in 2017 with 60 locations, AEG now has an established national presence with increasing density in each of its markets,” Jeff Fronterhouse, Managing Partner of RCG, said. “We continue to work toward our goal of building AEG into a 400+ location market-leading eyecare platform.”

About AEG Vision

AEG Vision is a rapidly-growing community of wholly-owned eyecare practices that deliver full-scope optometric services coupled with a well-run retail dispensary. The core purpose that unifies AEG’s doctors and associates is to “improve the health of our community by helping our neighbors see better and look their best, one patient at a time”. To achieve this, AEG strives to maintain the local essence of each practice that has made it successful. At the same time, AEG enables each practice to elevate its operations by leveraging AEG’s “Common Platform”. Founded in March 2017, AEG currently operates approximately over 300 practices operating under different regional brands across 17 states.

About Riata Capital Group, LLC 

RCG is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately-held companies with a focus on three industry sectors: business services, consumer, and healthcare services. The firm takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of Riata have sponsored over 200 acquisitions representing in excess of $6.5 billion in transaction value. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm's targeted sectors, Riata provides a compelling value proposition to business owners and entrepreneurs. For more information, please visit www.riatacapital.com.

Contact:

Jonathan Morgan

Kekst CNC

(212) 521-4800

Jonathan.morgan@kekstcnc.com

 

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March 3, 2022

Blake Battaglia Joins Riata Capital Group as a Managing Partner

Dallas, TX – March 3, 2022 – Riata Capital Group (“Riata” or “RCG”), a Dallas-based private equity investment firm, announced today that Blake Battaglia, a successful veteran private equity investor, is joining Riata as a Managing Partner. Mr. Battaglia brings over 25 years of private equity experience, including 19 years at ABRY Partners (“ABRY”), where he was instrumental in leading many of ABRY’s successful investments. Mr. Battaglia joins Jeff Fronterhouse and Barron Fletcher, Managing Partners of RCG, to further solidify the firm’s leadership team and lead RCG’s investment activities in the business services sector with a focus on digital infrastructure, information services, and tech-enabled outsourced business services. 

Prior to RCG, Mr. Battaglia served as a Partner at ABRY. During his 19-year tenure at ABRY, he focused on the digital infrastructure, information services, and technology-enabled outsourced business services sectors spanning cloud and managed IT services, regional and metro fiber, IoT communications and applications, cable television, broadcasting, media, and payment processing services. Mr. Battaglia played a key role in the development and execution of ABRY’s broadband investment thesis that originated during the firm’s early exposure to the utility-like nature of residential high-speed internet services, and that resulted in ABRY investing significant capital in companies utilizing digital infrastructure to provide broadband connectivity, bandwidth delivery and cloud services to consumers, businesses, enterprises, carriers, and devices. He served on the boards of Masergy, RCN Telecom Services, Lightower Fiber Networks, KORE Wireless (NYSE: KORE), Grande Communications, Atlantic Broadband, WOW! (NSYE: WOW), Cast & Crew Entertainment Services, Talent Partners, Hometown Cable, and Nexstar Media Group (NASDAQ: NXST). Since 2019, Mr. Battaglia has served as a Venture Partner for Delta-v Capital, a leading growth equity firm investing across technology sectors, including cybersecurity, digital infrastructure, DevOps, cloud services, SaaS, information services, and wellness and lifestyle technology.

Mr. Fronterhouse, Managing Partner of Riata, commented, “Blake is an exceptional investor with a strong track record investing in high-growth and attractive segments of the broader digital infrastructure, information services, and tech-enabled outsourced business services sectors. RCG is deploying a sector-focused strategy, and Blake’s extensive experience and strong track record in business services is very additive and strategic to our firm’s existing skill sets and experience. As we continue to build our firm and increasingly ramp-up our investment activities and assets under management, having a very experienced and successful investor like Blake is an important strategic step for RCG.”

Mr. Fletcher, Managing Partner of Riata, added, “We are very excited about the addition of Blake to our team at RCG. He brings many years of experience and perspective from a market-leading private equity firm, and we believe his presence will accelerate our growth and expand the addressable footprint of our business services investment activities.”

“I could not be more excited to join Jeff and Barron as a Riata Managing Partner,” Mr. Battaglia added. “They have done an exceptional job building the firm to date, including putting in place a strong team, both investment-focused and operational. Since late 2016, the firm has deployed over $475 million of capital and generated strong performance. My leadership in business services, with a focus on digital infrastructure, information services, and tech-enabled outsourced business services companies—characterized by recurring, contractual, and distributed revenue—completes the firm’s leadership across its three sectors. I believe the firm is on a great trajectory, is building some substantial businesses, and is well-positioned to be a market-leader in the lower-end of the middle market.”

About Riata Capital Group 

Riata Capital Group is a Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately held companies with a focus on three industry sectors: business services, consumer, and healthcare services. The firm takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Since 2016, RCG has closed over 100 acquisitions and invested over $475 million of equity capital. Over the course of their careers, the principals of RCG have sponsored over 200 acquisitions representing over $6.5 billion in transaction value. The firm targets equity investments of $25-$150 million in companies with $5-$30 million of EBITDA. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm's targeted sectors, Riata provides a compelling value proposition to business owners and entrepreneurs.

Contact

Jonathan Morgan or William Halliday
Kekst CNC
jonathan.morgan@kekstcnc.com  
william.halliday@kekstcnc.com

212-521-4800

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February 23, 2022

Angela Rothe Joins Riata Capital Group as Chief Financial Officer and Chief Compliance Officer

Dallas, TX – February 23, 2022 – Riata Capital Group (“Riata” or “RCG”), a Dallas-based private equity investment firm, announced today that Angela Rothe is joining RCG as Chief Financial Officer and Chief Compliance Officer. She will be responsible for the accounting, financial reporting, treasury, technology infrastructure and systems, compliance and administrative functions of the Firm. 

Jeff Fronterhouse, Managing Partner of Riata, commented: “Angela brings a wealth of experience from top financial organizations including Texas Pacific Group and Goldman Sachs. As we look to grow and expand our organization and assets under management, Angela will play an important role in ensuring our financial and investor reporting, compliance, and firm administration business processes are best-in-class. All of us at RCG are very excited to have her join our organization."

Ms. Rothe has over 18 years of experience in private equity. Prior to RCG, she was a Senior Director and Co-Head of the Corporate Accounting Services department at Texas Pacific Group (“TPG”). Prior to TPG, she served as a Vice President at Goldman Sachs responsible for the oversight and investor reporting of the Merchant Banking Division’s managed accounts, debt and private equity funds. Prior to Goldman Sachs, Ms. Rothe worked as an audit manager in public accounting at KPMG, where she served both domestic and international SEC clients. 

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December 14, 2021

Greenix Pest Control Acquires Rise Pest Control

Dallas, TX – December 14, 2021 – Greenix Pest Control (“Greenix” or the “Company”), the 14th largest pest control provider in the U.S. by PCT Magazine, announced today the acquisition of Rise Pest Control. This acquisition, which includes the onboarding of over 70 additional team members and service professionals in IA, KS, WI, MN, IN and NE adds further density to the Company’s existing presence and rapid expansion in the upper Midwest.

Including the Rise acquisition, Greenix now operates in 15 states protecting over 160,000 households throughout the Mid-Atlantic, Midwest, Northeast and Utah where it’s headquartered.  Founded in 2011, Greenix prides itself on its distinguished reputation for trusted, sustainable, and proven effective pest control services in the communities where they serve.

“We couldn’t be more excited to welcome the Rise team to the Greenix Family,” said Bob Nilsen, CEO of Greenix. “Our ongoing commitment to providing customers with a world class pest control service remains true. We believe every customer deserves a service that is not only incredibly effective, but environmentally responsible. This new partnership works seamlessly with our footprint, and our corporate cultures mesh perfectly. What an exciting opportunity for both customers and employees alike.”

 “We are proud to announce the sale of Rise Pest Control to our friends at Greenix,”says Blaine Jensen, Rise CEO. “The Greenix team shares and continues our vision of premium service and customer dedication. I’m looking forward to seeing the Rise legacy continue through the Greenix brand.” Jensen continued.

Greenix Pest Control, founded in 2011, was recently ranked the 14th largest pest control provider in the U.S. by PCT Magazine. With over a decade of experience and a distinguished reputation for world class pest control and customer service, Greenix offers a range of premium services including general pest and rodent removal as well as tick, flea and mosquito control. Greenix currently operates in 15 states and has over 700 employees nationwide.

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September 20, 2021

Riata Capital Group Announces Closing of WSS Sale to Foot Locker

Dallas, TX – September 20, 2021 – Riata Capital Group (“Riata” or “RCG”), a Dallas-based private equity investment firm, today announced the closing of the sale of West Coast-based WSS (the “Company”), a premier Hispanic-focused specialty retailer of athletic, fashion, and work-related footwear and accessories, to Foot Locker for $750 million.

Since completing the recapitalization of WSS in late 2016, RCG actively contributed to the growth and expansion of WSS, including:

  • Doubling revenue and increasing EBITDA five-fold 
  • Successfully entering the Texas market with 14 new stores to date
  • Driving customer loyalty through community engagement and digital initiatives
  • Forging strategic partnerships, including a strategic marketing partnership with the Dallas Cowboys Organization

RCG’s Co-Managing Partner Barron Fletcher, said, “We saw significant potential in the differentiated and community-oriented platform that WSS founder Eric Alon had created and scaled to meet the needs of families predominantly in underserved, high-growth Hispanic markets. WSS’s authentic, socially-conscious and community-oriented approach has resulted in rewarding outcomes for all stakeholders involved. We are proud to have worked with CEO Rick Mina and the entire WSS team to contribute to the Company’s considerable growth, value creation and strong value proposition for the families they serve.”

Jeff Fronterhouse, Co-Managing Partner of RCG, continued, “WSS’s success highlights our experience in building market-relevant, high-growth platforms in the Consumer, Business Services, and Healthcare Services sectors. We deploy both buy & build and organic growth strategies to accelerate growth and WSS is a compelling example of how a well-executed organic growth strategy can dramatically increase a portfolio company’s financial performance and overall valuation.” 

In addition to the successful exit of WSS, RCG has achieved several important milestones, including:

  • Closing two new platform investments and 54 add-on acquisitions and investing over $270 million of equity capital over the last twelve months; and
  • Investing over $470 million of equity capital since late 2016

Additional Transaction Information

Baird served as the lead financial advisor to WSS with respect to the transaction, and Jefferies served as a co-advisor to the WSS Board of Directors. Morgan Stanley, Jefferies, and Credit Suisse also advised the Company with respect to public market alternatives. Manatt, Phelps & Phillips served as lead legal advisor to the Company along with Vinson & Elkins as a co-advisor.  

About Riata Capital Group

Riata Capital Group is a Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately-held companies with a focus on three industry sectors: consumer, business services, and healthcare services. The firm takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Since 2016, RCG has closed over 100 acquisitions and invested over $470 million of equity capital. Over the course of their careers, the principals of RCG have sponsored over 200 acquisitions representing over $4.9 billion in transaction value. The firm targets equity investments of $25-$150 million in companies with $5-$30 million of EBITDA. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm's core sectors, Riata provides a compelling value proposition to business owners and entrepreneurs.

About WSS 

WSS is a premier footwear and apparel retailer in the U.S. doing business in inner-city, neighborhood-based stores. Consumers trust WSS for the best brands and largest selection of athletic, dress, fashion, work and casual footwear for the entire family. WSS’s large store format enables it to showcase thousands of styles from top name brands, which include Nike, Jordan, adidas, Vans, Converse, Puma, Reebok, Fila and Timberland, among others. In addition, WSS carries high quality private brands augmenting the breadth of selection to deliver amazing value to its customers. Founded in Southern California in 1984 by entrepreneur Eric Alon, WSS has grown to 93 stores primarily on the West Coast.

Disclosure Regarding Forward-Looking Statements

This press release may contain forward-looking statements pertaining to Riata Capital Group’s private equity investment business. Other than statements of historical fact, all statements that address activities, events or developments that RCG anticipates will or may occur in the future are forward-looking statements. These forward-looking statements are based on current expectations and expectations for the future. Although we believe such estimates and assumptions to be reasonable, they are inherently uncertain and involve a number of risks and uncertainties that are beyond our control. RCG makes no guarantee that other investments made by the company will be successful. Past performance is no guarantee of future results.

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August 4, 2021

Riata Capital Group Announces Sale of Hispanic-Focused Specialty Retailer WSS to Foot Locker

Dallas, TX – August 4, 2021 – Riata Capital Group (“Riata” or “RCG”), a leading Dallas-based private equity investment firm, announced today that West Coast-based WSS (the “Company”), the nation’s leading Hispanic-focused specialty retailer of athletic, fashion, and work-related footwear and accessories, has reached a definitive agreement to be acquired by Foot Locker for $750 million. Since completing the recapitalization of WSS in late 2016, RCG has actively contributed considerable resources to help build and scale the WSS platform, generating significant growth in organic revenue and profitability over the course of the partnership.

RCG’s Co-Managing Partner Barron Fletcher, said, “At the inception of our investment, we saw enormous potential in the differentiated and community-oriented platform that Eric Alon had created and built to meet the needs of families predominantly in the underserved, high-growth Hispanic markets. WSS’s authentic, socially-conscious and community-oriented approach has resulted in rewarding outcomes for all stakeholders involved. We are proud to have worked with Eric, CEO Rick Mina, and the rest of the WSS team to expand WSS stores into more neighborhoods in both existing and new markets and to have contributed to the Company’s considerable value creation and strong value proposition for the families they serve.”

Since the completion of the 2016 recapitalization, WSS has achieved numerous key milestones, including:

• Doubling revenues and increasing EBITDA five-fold

• Successfully entering the Texas market with 14 stores to date

• Driving customer loyalty through community engagement and digital initiatives

• Forging strategic partnerships, including a strategic marketing partnership with the Dallas Cowboys Organization

Co-Managing Partner Jeff Fronterhouse of RCG, continued, “WSS’s success highlights our thematic investment approach and strong track record of building market-relevant, high-growth platforms in the Consumer, Business Services, and Healthcare Services sectors. Deploying both buy & build and organic growth strategies to accelerate growth, WSS is a great example of a very well executed organic growth strategy that dramatically increased financial performance and overall valuation. We look forward to deploying similar growth strategies to help founder-owned and closely-held businesses achieve their highest potential.”

Eric Alon, Founder and Executive Chairman of WSS, added, “Over the past five years, WSS has been able to accelerate our market leadership while staying true to our DNA and community-first, customer-focused approach. Throughout, we’ve benefited enormously from the strategic, operational and financial guidance from our partners at Riata. They have been great partners and their many contributions unquestionably led WSS to this milestone transaction with Foot Locker. Foot Locker will bring additional resources to help accelerate unit growth and execute on WSS’s mission. I am confident that WSS has found the right home with Foot Locker and look forward to its future success.”

WSS’s CEO, Rick Mina, concluded, “The Riata team significantly helped us solidify the WSS brand as the leading retail platform in our industry serving our core customer. We clearly established the right strategy to grow WSS when I joined the Company in December 2015, but we needed capital for growth potential. Given Riata’s success building Hibbett, Lids, Teavana and other successful growth companies, we knew they were the right team.”

Additional Transaction Information

The Transaction is expected to close late in the third quarter of 2021, subject to the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the satisfaction of customary closing conditions.

Baird is serving as the lead financial advisor to WSS with respect to the Transaction. Morgan Stanley, Jefferies, and Credit Suisse are advising the Company with respect to public market alternatives. Manatt, Phelps & Phillips is serving as lead legal advisor to the Company along with Vinson & Elkins as a co-advisor.

About Riata Capital Group

Riata Capital Group is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately-held companies with a focus on three industry sectors: consumer, business services, and healthcare services. The firm takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Since 2016, RCG has closed over 100 acquisitions and invested approximately $470 million of equity capital. Over the course of their careers, the principals of RCG have led over 200 acquisitions representing over $4.8 billion in transaction value. The firm targets equity investments of $25-$150 million in companies with $5-$30 million of EBITDA. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm's core sectors, Riata provides a compelling value proposition to business owners and entrepreneurs.

About WSS

WSS is a premier footwear and apparel retailer in the U.S. doing business in inner-city, neighborhood-based stores. Consumers trust WSS for the best brands and largest selection of athletic, dress, fashion, work and casual footwear for the entire family. WSS’s large store format enables it to showcase thousands of styles from top name brands, which include Nike, Jordan, adidas, Vans, Converse, Puma, Reebok, Fila and Timberland, among others. In addition, WSS carries high quality private brands augmenting the breadth of selection to deliver amazing value to its customers. Founded in Southern California in 1984 by entrepreneur Eric Alon, WSS has grown to 93 stores primarily on the West Coast.

Disclosure Regarding Forward-Looking Statements

This press release may contain forward-looking statements pertaining to Riata Capital Group’s private equity investment business. Other than statements of historical fact, all statements that address activities, events or developments that RCG anticipates will or may occur in the future are forward-looking statements. These forward-looking statements are based on current expectations and expectations for the future. Although we believe such estimates and assumptions to be reasonable, they are inherently uncertain and involve a number of risks and uncertainties that are beyond our control. RCG makes no guarantee that other investments made by the company will be successful. Past performance is no guarantee of future results.

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July 30, 2021

Riata Capital Group Announces Closing of Secondary Transaction for AEG Vision

Dallas, TX – July 30, 2021 – Riata Capital Group (“Riata” or “RCG”), a Dallas-based private equity investment firm, today announced the closing of a GP-led secondary transaction (the “Transaction”) for its portfolio company AEG Vision (“AEG” or the “Company”), an owner and operator of over 235 eyecare practices throughout North America. The Transaction allows RCG to return capital to certain existing investors while providing AEG with substantial growth capital to execute its long-term strategy. Investment funds managed by Morgan Stanley’s secondaries group led the Transaction.

Since RCG formed AEG in 2017 through the simultaneous acquisition of three regional eyecare groups, AEG has scaled to become one of the largest buy-and-build optometry platforms in North America. Since AEG’s formation, the Company has achieved the following:

  • Increased practice count from 65 to over 235 by completing over 100 add-on acquisitions
  • Expanded geographic coverage from 5 states at inception, to 12 states today
  • Integrated and transitioned over 90% of its network of optometry practices onto a common IT system platform that provides POS, EHR, and ERP solutions 
  • Recruited and developed a deep management team with significant experience in eyecare, physician-led, and multi-site businesses

RCG’s Co-Managing Partner Jeff Fronterhouse said, “This Transaction has been a great outcome for all stakeholders involved, providing early investors with an attractive liquidity option at their election, as well providing substantial new capital as AEG enters into its next phase of growth. And importantly, AEG is well-positioned to continue its mission of building a world-class eyecare organization that is good for doctors, good for patients, and a positive influence in optometry.”

Eric Anderson, CEO of AEG Vision, concluded, “Over the past several years, we have significantly expanded AEG’s network of practices while making significant investments to support technology, back-office support, and other key operational areas that elevate outcomes for doctors, staff, and patients. The secondary transaction provides additional resources in this respect and provides key validation for the next phase of our growth strategy. We thank RCG for their continued support and welcome our new investors.” 

In addition to the successful closing of the GP-led secondary transaction for AEG, RCG has achieved several other important milestones, including:

  • Selling its portfolio company WSS to Foot Locker for $750 million after doubling revenue and increasing EBITDA five-fold since late 2016
  • Closing two new platform investments and 54 add-on acquisitions and investing over $270 million of equity capital over the last twelve months; and
  • Investing over $470 million of equity capital since late 2016

Additional Transaction Information

Evercore served as the lead financial advisor to RCG and AEG with respect to the Transaction. Kirkland & Ellis, Ropes & Gray, and Vinson & Elkins served as legal advisors to RCG and AEG. 

About Riata Capital Group

Riata Capital Group is a Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately-held companies with a focus on three industry sectors: consumer, business services, and healthcare services. The firm takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Since 2016, RCG has closed over 100 acquisitions and invested over $470 million of equity capital. Over the course of their careers, the principals of RCG have sponsored over 200 acquisitions representing over $4.9 billion in transaction value. The firm targets equity investments of $25-$150 million in companies with $5-$30 million of EBITDA. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm's core sectors, Riata provides a compelling value proposition to business owners and entrepreneurs.

About AEG Vision 

AEG Vision is a rapidly-growing community of wholly-owned eyecare practices that deliver full-scope optometric services coupled with a full-service retail dispensary. The core purpose that unifies AEG’s doctors and associates is to “improve the health of our community by helping our neighbors see better and look their best, one patient at a time”. To achieve this, AEG strives to maintain the local DNA that has made each practice successful. At the same time, AEG enables each business to elevate its operations by leveraging AEG’s “Common Platform”. Founded in March of 2017, AEG currently operates over 235 practices operating under different regional brands across 12 states. www.AEGVision.com

Disclosure Regarding Forward-Looking Statements

This press release may contain forward-looking statements pertaining to Riata Capital Group’s private equity investment business. Other than statements of historical fact, all statements that address activities, events or developments that RCG anticipates will or may occur in the future are forward-looking statements. These forward-looking statements are based on current expectations and expectations for the future. Although we believe such estimates and assumptions to be reasonable, they are inherently uncertain and involve a number of risks and uncertainties that are beyond our control. RCG makes no guarantee that other investments made by the company will be successful. Past performance is no guarantee of future results.

Contact

Jonathan Morgan or William Halliday

Kekst CNC

jonathan.morgan@kekstcnc.com

william.halliday@kekstcnc.com

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December 31, 2020

Riata Capital Group Completes Recapitalization of Greenix, A Leading Residential Pest Control Platform

Dallas, TX – December 31, 2020 – Riata Capital Group (“Riata” or “RCG”) today announced that it has completed the recapitalization of Greenix Pest Control (“Greenix” or the “Company”) in partnership with Bob Nilsen and the Company’s management team. Greenix, estimated to be the 14th largest residential pest control company in the U.S. based on subscribers, is a market-leading provider of subscription-based pest control services to residential customers in fourteen markets across the Midwest, Mid-Atlantic, and Eastern regions of the United States. This marks RCG’s first investment as a part of the firm’s strategy to allocate capital to opportunities in the residential home-services sector. Terms of RCG’s investment were not disclosed.

Barron Fletcher, Managing Partner of RCG, said, "We have been impressed by the unique platform that Bob Nilsen, Bridger Thomas and their team have built in Greenix, creating a high-quality, next-generation pest control services provider committed to excellent service and customer satisfaction. Their commitment to their people, high-energy culture and strong management and infrastructure have allowed them to build and scale a differentiated platform within the sector. Based on our team’s experience building numerous, leading multi-site consumer platforms, we believe we represent a great value proposition for Greenix as their investment partner. We look forward to contributing to their continued growth in existing markets and their successful entry into new ones."

RCG Managing Partner, Jeff Fronterhouse, said, “We are excited to partner with such a well-positioned and well-managed platform. Bob, Bridger and the broader leadership team at Greenix have built an impressive business with great people, processes and infrastructure. Importantly, this partnership with Greenix marks the first investment of RCG’s strategy to allocate as much as $150-200 million of equity capital over the next three to five years to investments in the residential home-services sector. With respect to Greenix, RCG will look to deploy additional capital in the platform through time to support the Company’s continued expansion including pursuing synergistic and targeted add-on acquisitions.” Fronterhouse added, “Similar to our residential home-services strategy, RCG has allocated significant capital to current platform strategies serving the Hispanic consumer and the eye care industry”.

Regarding their new partnership with Riata, Bob Nilsen, CEO of Greenix, said, “We are excited to have Riata as our investment partner. They are a great fit for our company culturally and strategically. Since originally investing in Greenix in 2014, our goal has been to build a world-class service provider that is differentiated on quality, service and customer satisfaction. Both our customers and our teams in the field know they have our 100% commitment, which has been a cornerstone of our success in building Greenix to date. Our partnership with Riata will build upon this commitment as they bring considerable experience and resources to help further elevate the business while allowing us to remain true to our mission and vision.”

President Bridger Thomas said, “Our partnership with Riata will help us navigate the challenges we will face as we enter our next phase of growth while also supporting our unique culture and dedication to customer service. Not only do they understand our business, the really understand our culture.”

About Riata Capital Group

RCG is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately held companies across North America with a focus on three industry sectors: consumer, business services, and healthcare services. The firm takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Since 2016, RCG has closed over 70 acquisitions, and over the course of their careers, the principals of RCG have sponsored over 200 acquisitions representing over $4.8 billion in transaction value. The firm targets equity investments of $25-150 million in companies with $5-30 million of EBITDA. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm's core sectors, Riata provides a compelling value proposition to business owners and entrepreneurs.

About Greenix

Greenix Pest Control is a high-growth provider of subscription-based, residential pest control services to customers in 14 markets clustered in the Midwest, Mid-Atlantic, and Eastern U.S. The Company provides a full range of in-home and exterior services that address general pests, ticks, flees, mosquitoes, and rodents, among others, typically through service contracts providing quarterly or monthly treatments. Since its founding in Columbus, Ohio in 2011 by Matt and Gina Flanders, Greenix has stayed true to its total dedication to high quality service, strong customer satisfaction and support for its family of technicians deployed in its local service areas. Matt and Gina also established a focus on building Greenix into an environmentally friendly and sustainable platform.  At Greenix, the Company’s commitment extends beyond providing services – it extends to the trust and peace of mind that comes along with a safe, comfortable, pest-free environment all year long. For more information, please visit https://www.greenixpc.com.

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December 4, 2020

Riata-backed AEG Vision continues buying spree through pandemic

Dallas, TX – December 4, 2020 – Riata Capital Group's AEG Vision has stayed a prolific buyer through the global health crisis, recently completing eight acquisitions with more to come this year, the Dallas buyout firm told PE Hub.

Formerly known as Acuity Eyecare Group, the owner and operator of North American eyecare practices has completed 16 acquisitions in 2020 so far – adding 31 practices in six states: Arizona, Colorado, Minnesota, Missouri, Tennessee and Texas. The last eight comprised 11 practices combined.

The platform's latest string of M&A brings AEG to 165 practices spanning 12 states and follows a robust level of dealmaking in 2019. Additional letters of intent pending closure have been signed, the company said.

AEG last year completed a total of 30 acquisitions comprising 60 practices, PE Hub previously wrote.

According to Jeff Fronterhouse, managing partner and co-founder of Riata, the recent string of dealmaking furthers its "goal of building AEG into a 300-400 location market-leading eyecare platform."

Riata formed then-Acuity Eyecare Holdings in March 2017 through the simultaneous acquisition of three regional eyecare groups, emerging as an aggressive consolidator of the eye care market in the time since.

JP Morgan Asset Management in January 2019 joined Riata as a minority investor in AEG in connection with the platform's acquisitions of ABBA Eye Care, of Colorado Springs, Colorado, and EyeCare Facilities, of Lincoln, Nebraska.

Majority owned by Riata, AEG provides various optometric services and offers lenses, frames and contact lenses across its wholly-owned practics, which operate under different regional brands.

The eye care company is led by CEO Eric Anderson, a former executive of various companies, including Fossil Group and Luxottia Group. At Luxottica, Anderson worked as president of LensCrafters North America, among other positions over an 18 year period.

As the cofounder and former co-CEO of Brazos Private Equity Partners, Fronterhouse led Brazos' 2011 investment in Vision Source through its sale to Essilor USA in late 2015. Dallas-based Brazos, which has since wound down, expected to make nearly 3x its money with the sale, a source told PE Hub at the time.

Fronterhouse subsequently co-founded Riata alongside Barron Fletcher, founder and managing partner of Parallel Investment Partners.

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January 30, 2020

Riata Capital Group Portfolio Company Acuity Eyecare Group Announces 12 Acquisitions In 4 States

Dallas, TX – January 30, 2020 – Riata Capital Group (“Riata” or “RCG”) announced that its portfolio company Acuity Eyecare Group (“AEG” or the “Company”), an owner and operator of leading North American eyecare practices, has recently completed 12 acquisitions in 4 states, totaling 22 practices. AEG now owns and operates approximately 140 practices across 11 states, and has another 30 practices under letter of intent. In 2019, the Company completed 30 acquisitions, representing 60 practices

Acuity’s new acquisitions are located in Arizona, Tennessee, Texas and Ohio. Each of the groups and practices acquired are complementary to AEG’s market positioning as a community-based doctor-centric eyecare platform that provides full-scope optometric services and a comprehensive selection of lenses, frames and contacts lenses.

Acuity Eyecare Group also announced that it is rebranding to AEG Vision, a name that better reflects the Company’s commitment to full-scope medical optometry and improving patient outcomes. The rebranding includes a redesign of the company’s website, logo, graphics and communications.

“We had a very productive year as AEG grew by 60 practices, with another 30 practices pending close in the first quarter of 2020,” Eric Anderson, CEO of AEG Vision, said. “We are excited with the development of AEG Vision, an eyecare platform positioned as a caring community of local providers that helps our neighbors take care of their vision, one patient at a time. Our approach is to be collaborative with independent eyecare professionals and eyecare groups. And increasingly as we emphasize full-scope medical optometry, along with delivering an exceptional retail experience for patients and customers, our message is increasingly resonating with the market.”

“We are excited to continue AEG’s momentum into 2020,” Jeff Fronterhouse, Managing Partner of Riata Capital Group, said. “AEG Vision has now established presence and is focused on building density in 11 states. To support this growth, AEG has been systematically adding resources to its field support, operations, and integration teams. Importantly, we are transitioning all practices acquired to a common POS, practice management, EHR systems platform. Ultimately, we are building the business to support steady acquisition-led growth, and remain enthusiastic about achieving our stated goal of building AEG into a 250-300 location market-leading eyecare platform.”

About AEG Vision

AEG Vision is a rapidly-growing community of wholly-owned eyecare practices that deliver full-scope optometric services coupled with a well-run retail dispensary. The core purpose that unifies AEG’s doctors and associates is to “improve the health of our community by helping our neighbors see better and look their best, one patient at a time”. To achieve this, AEG strives to maintain the local DNA that has made each practice successful. At the same time, AEG enables each business to elevate its operations by leveraging AEG’s “Common Platform”. Founded in March of 2017, AEG currently operates approximately 140 practices operating under different regional brands across 11 states. www.AEGVision.com

About Riata Capital Group

Riata Capital Group is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately-held companies with a focus on three industry sectors: business services, consumer, and healthcare services. The firm takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of Riata have sponsored over 175 acquisitions representing in excess of $4.5 billion in transaction value. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm's core sectors, Riata provides a compelling value proposition to business owners and entrepreneurs.  For more information, please visit www.riatacapital.com.

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December 2, 2019

Acuity Eyecare Group Announces Rebranding and New Corporate Name to Reflect Company’s Evolution and Growth

Dallas, TX – December 2, 2019 – As it completes the year with strong and steady growth, Acuity Eyecare Group has set its sights on continuing its success in 2020, but with an updated name, brand identity and company logo. The firm, which operates leading eyecare groups across the U.S. and has backing by private equity group Riata Capital, is announcing today a new name, AEG Vision, along with other corporate updates. The company, based here, said the rebranding reflects its evolution and its commitment to full-scope medical optometry. The changes are effective today, and include a redesign of the company’s website, logo, graphics and communications, according to the announcement. The new website address is: www.AEGVision.com.

AEG Vision expects to close out 2019 with about 150 practice locations, chief executive officer Eric Anderson told VMAIL in an interview in late November. He said the firm will have made about 50 to 60 acquisitions before 2019 comes to a close. “It’s been a pretty incredible year,” Anderson said. “When the dust settles, we will be 50 or 60 practices bigger. I don’t know how many transactions that is, but it’s quite a few.”

Anderson said the company’s rebranding is consistent with an effort to strengthen the connection to its core purpose, vision and values. “The AEG Vision brand is a signal to our patients, doctors and associates that our organization is more than a group,” he added. “AEG Vision is a caring community of local providers, helping our neighbors take care of their vision, one patient at a time.”

Anderson added, “We have been Acuity Eyecare Group for a while, and that served us well, but we want to reflect a higher order of benefit. What we are really all about is helping people protect their vision, one patient at a time. So we wanted a name that reflected that.”

Ben Chudner, OD, the group’s chief medical officer, told VMAIL in an interview that he believes the move to the new AEG Vision name will be viewed favorably by ECPs within and outside the group. “The name change better reflects who we are in terms of optometric practices,” he said. “In general, the practices that we own don’t really have any obvious ties to Acuity Eyecare Group. And from a patient’s perspective, there’s not really any change at all. They don’t have any knowledge of our organization, which is intentional. We try to keep the DNA of the practices intact.”

Chudner oversees the firm’s ECP advisory council, which consists of about 10 practicing doctors representing the states where the firm has practices, and their reaction was very positive, he said.

AEG Vision’s “family” of eyecare practices includes Crown Vision Center (St. Louis and east Illinois), IEC International Eyecare Center (Illinois, Iowa and Missouri), Eyes on Missouri (mid-Missouri), Eyetique (western Pennsylvania and Ohio), Malbar (Nebraska), One Hour Optical (Colorado), 20/20 Image Eye Centers (Arizona), ABBA Eye Care (Colorado), EyeCare Specialties (southeast Nebraska), EyeTX Vision Centers (San Antonio, Texas), Hill Country Vision Centers (Texas), Memorial Eye Center (Houston), Insight Vision Center (Kansas) and EyeCare Consultants (Colorado).

AEG Vision’s most recent announced acquisitions came in November when the firm acquired Advanced Vision in Columbia, Mo., and EyeCare Consultants in Centennial, Colo., as VMAIL reported. The latter practice is the company’s 18th location in Colorado.

Joe Terzo, AEG Vision’s chief development officer, said that while the Acuity Eyecare Group name and story “has carried quite well” as the firm has done a “good job of developing a positive seller transition experience,” the time had come for taking a broader view of the firm’s objectives. Terzo, a former investment banker, has been with AEG Vision for about 14 months.

“We have developed what I think to be is a best-in-class, repeatable process that puts people first and delivers value for everyone involved and really enhances the patient experience and outcome,” Terzo said in an interview. “But as we look into the future and try to continue to accelerate our growth trajectory, I think the story is much broader than just ‘eyecare group.’ The word vision embodies both the vision of the team and our staff and the leadership group. It is a good alignment tool for all of us to deliver on our value proposition.”

Looking ahead, Anderson said he believes the pipeline of prospective acquisitions “is very full, so we feel good about that.” He added, “And more importantly the businesses that have been under [our] management and fully integrated continue to perform very well. We’re able to demonstrate the kind of value we can add by doing what we know how to do really well.”

Some of AEG Vision’s success is attributable to what Anderson calls a “nice balance” of incorporating a common platform, scale of 150 ECP offices, common POS systems and a single product supply chain. “At the same time, we’re still celebrating that DNA that made those [acquired] businesses work.” AEG Vision works to keep the business model of acquired practices the same as pre-acquisition, whether they are more of a medically oriented model or more of a boutique model, such as Eyetique in Pittsburgh.

AEG Vision has its own surfacing lab, a common POS/EHR technology platform, and an internal practice management package that provides an overview of data across all practices. These common technology platforms are integrated with acquisitions within about 90 days, Anderson said.

“We don’t homogenize [the practice],” Anderson said. “We push the boundaries of homogeneity balanced with the benefits of scale, and that formula is working really well for us.”

Anderson said he expects “more of the same” for AEG Vision in 2020. “I’ve got my senior leadership team in place and many of them are people I have worked with for 20 years. We’re a very tight group and we are very simpatico in terms of how we approach people and acquisitions. There are no silos, and we are operating pretty efficiently… I would expect us to do more of the same next year.”

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September 30, 2019

Texas Stakes

Less than a year after Rick Mina took the helm of WSS, the company made another shrewd move to cement its future growth: It took an investment from Riata Capital Group.

The Dallas-based private equity firm— which already had an impressive resume that included building and selling Lids, recapping Dollar Tree and taking Hibbett Sports public — had been looking to plow money into a company with a Hispanic-facing consumer concept, solid leadership and a strong business model.

“We liked that WSS had the No. 1 position in a Hispanic-focused niche, engagement with the consumers and the neighborhoods, a business model that had been curated for over 30 years and a platform that we were able to verify is strategic for the brands,” said Barron Fletcher, a managing partner at Riata.

While WSS hoped to benefit from a cash infusion, more important, it sought a partner with expertise in Texas real estate, a territory it plans to expand into even further.

“The move into Texas has been very strategic and pretty critical to establishing the company in a more balanced way geographically,” said Fletcher. “The preponderance of WSS stores are still in California— and that’s fine because California is an incredibly productive state — but diversifying the platform in terms of locations only makes it better. There is a lot of white space in Texas.”

Fletcher said he believes the specialty retailer, which plans to have more than 100 stores by the end of 2020,could one day evolve into a 250- to 300-door chain. As for Texas, WSS will operate 11 doors in the state by the end of the year, with the potential for 60 more.

“At that level, that would be $1 billion in sales,” Fletcher said.

The company is so ripe for growth that it even caught the attention of Jerry Jones Sr., the owner the NFL’s Dallas Cowboys franchise.

In March, the football organization poured money into the Riata fund that had invested in WSS, essentially creating a limited partnership.

So far, the alliance has paid off.

After several brick-and-mortar sporting-goods stores closed in California and Arizona, the NFL team needed new places to distribute its Cowboy-branded merchandise.

And for WSS, the California-based company gained access to proprietary product to sell to its Hispanic customers, who Fletcher said have an affinity for the Cowboys because the team has frequently played games in Mexico and has close ties with the country. WSS also benefits in another way: Team players often show up at store events and grand openings.

“Both sides of this are selling the same customer,” said Fletcher. “WSS can provide the Cowboys with distribution they can’t get anywhere else, and the Cowboys can help WSS on the marketing side.”

Three years after investing in the company,Fletcher likes what he sees so far: value and growth. Much of that success he attributes to Mina.

“His reputation and relationships with the brands have been very powerful for WSS,” said Fletcher. “We had access to the brands but we didn’t have the ability to get the kind of assortments and relationships that we do now.”

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September 10, 2019

Riata Promotes DePinto to Senior Associate

Dallas, TX – September 10, 2019 – Riata Capital Group (“Riata”) today announced that it has promoted one of its investment professionals, Nick DePinto, to the position of Senior Associate. Nick had previously served as an Associate, and joined the firm in 2017.

Prior to joining Riata, Mr. DePinto was an Associate at J.P. Morgan, where he advised consumer products and retail clients on a variety of transactions including mergers and acquisitions, as well as debt and equity financings.

Nick DePinto
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September 6, 2019

Acuity Eyecare Group Continues Texas Growth With Acquisition of Eight Locations

Dallas, TX – September 6, 2019 – Riata Capital Group (“Riata” or “RCG”) announced that its portfolio company Acuity Eyecare Group (AEG), an owner and operator of leading North American eyecare groups and optometry practices, has acquired an additional eight eyecare practice locations in Houston and the surrounding area. The terms of the deals were not disclosed.The practices involved in the various transactions include Memorial Eye Center, a three-location optical group that has served the West Houston community for more than 28 years with full-service, personalized eyecare and eyewear.

Over that time, Memorial Eye Center has become one of Houston’s largest independent optometric practices. The practice is known for utilizing state-of-the-art instruments and equipment. In addition, Acuity said it has acquired five other independently owned Houston-area practices in the communities of Katy (Dr. Ali Mostaghimi), Spring (two locations under Dr. Kris Patel and Dr. Hiral Mehta), Sugar Land (Dr. Thomas P. Arnold) and Houston (Dr. Robert Flanders).These five practice locations will now operate as Memorial Eye Centers, according to AEG, and Memorial Eye will have eight locations under its name. The independent locations offer a range of treatments, including the co-management of LASIK laser surgery, pediatric vision care and cataract and glaucoma management. The practices also offer orthokeratology and specialty contact lenses. AEG, founded in March 2017, currently operates more than 100 locations under different regional brands across 10 states.

The eight acquired practice locations join AEG’s growing network of Texas eye care groups, including EyeTx and Hill Country Vision Center, separate deals that were announced at the end of July.

​“We are very excited to have partnered with Acuity Eyecare Group,” Dr. Arnold, OD, FSLS, said in the announcement. “My colleagues and I have been very impressed with the professionalism of their entire team, their efficient approach to timely reviewing and closing this transaction, and their overall transparent approach and how they communicate.” Arnold, who has owned a Sugar Land practice for more than 27 years, added, “Most importantly, we share the same view of the profession, how best to support doctors, and how best to enhance the performance at a practice level.”

AEG chief executive officer Eric Anderson said the organization is honored that Arnold, Memorial Eye Center and several other prominent practices have chosen to partner with Acuity. “We are excited to have them join the growing AEG family,” he added. “And we are very enthusiastic about our progress in building significant presence in Texas.” Joe Terzo, AEG’s chief development officer, noted that AEG’s philosophy is to “maintain the DNA and culture of each practice we acquire while we enable them to leverage our resources to elevate their practice.” He added, “We’re committed to giving each of these practices the resources they need to further expand and grow.”

About Acuity Eyecare Group

Acuity Eyecare Group (“AEG”) is a rapidly growing community of wholly-owned optical practices that deliver full-scope optometry coupled with a well-run dispensary.The core purpose that unifies AEG’s doctors and associates is to “improve the health of our community by helping our neighbors see better and look their best, one patient at a time”. To achieve this, AEG strives to maintain the local DNA that has made each practice successful. At the same time, AEG enables each business to elevate its operation by leveraging our “Common Platform”. Founded in March 2017, AEG currently operates 100+ locations operating under different regional brands across 10 states. For more information, please visit www.acuityeyecaregroup.com.

About Riata Capital Group 

Riata Capital Group is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately-held companies across North America with a focus on three industry sectors: business services, consumer, and healthcare services. The firm takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Riata has closed over 25 acquisitions in the past twenty-four months, and over the course of their careers, the principals of Riata have sponsored over 160 acquisitions representing over $4.6 billion in transaction value. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm's core sectors, Riata provides a compelling value proposition to business owners and entrepreneurs. For more information, please visit www.riatacapital.com.

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July 31, 2019

Acuity Eyecare Group Enters Texas Market with Multiple Acquisitions

Dallas, TX – July 31, 2019 – Riata Capital Group (“Riata”) announced that its portfolio company Acuity Eyecare Group (“AEG”), an owner and operator of leading North American eyecare groups and optometry practices, has acquired 11 regional eyecare practices in Texas. These acquisitions are the first for AEG in the Texas market and include:

  • EyeTx Vision Centers: Founded in 1985, EyeTx Vision Centers operates six locations across San Antonio, TX. EyeTx optometrists are therapeutic and glaucoma certified. They specialize in routine eye care, contact lens and gas permeable fittings, bi-focal contact lens fitting, kerotoconus fittings and ortho-K fittings.
  • Hill Country Vision Center: A five location optical group, Hill Country was founded in 1975 in Kerrville, TX. Its other locations are Fredricksburg, Hondo, Floresville, and Bulverde. HCVC’s specialties include comprehensive exams, LASIK consultations, and urgent care, as well as the treatment and management of eye diseases.

“We are thrilled to welcome these exceptional groups into our family and to introduce AEG to the great state of Texas,” said Eric Anderson, CEO of Acuity Eyecare Group. “Generations of Texans have enjoyed better vision because of EyeTx and Hill Country. It is an honor to join these communities and we look forward to serving generations to come.”

 Jeff Fronterhouse, Managing Partner of Riata Capital Group, said: “We are excited to build on Acuity’s recent momentum, having completed seven acquisitions over the last two months. Texas is a promising market as we build Acuity Eyecare Group into a market-leading eyecare platform.”

About Acuity Eyecare Group

Acuity Eyecare Group (“AEG”) is a rapidly growing community of wholly-owned optical practices that deliver full-scope optometry coupled with a well-run dispensary. The core purpose that unifies AEG’s doctors and associates is to “improve the health of our community by helping our neighbors see better and look their best, one patient at a time”. To achieve this, AEG strives to maintain the local DNA that has made each practice successful. At the same time, AEG enables each business to elevate its operation by leveraging our “Common Platform”. Founded in March 2017, AEG currently operates 100+ locations operating under different regional brands across 10 states. For more information, please visit www.acuityeyecaregroup.com.

About Riata Capital Group 

Riata Capital Group is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately-held companies across North America with a focus on three industry sectors: business services, consumer, and healthcare services. The firm takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Riata has closed over 20 acquisitions in the past twenty-four months, and over the course of their careers, the principals of Riata have sponsored over 155 acquisitions representing over $4.5 billion in transaction value. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm's core sectors, Riata provides a compelling value proposition to business owners and entrepreneurs. For more information, please visit www.riatacapital.com.

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July 2, 2019

Acuity Eyecare Group Continues Strong Momentum with Acquisitions of Carlsson Family Eye Center and Pediatric & Adult Vision Care

Dallas, TX – July 2, 2019 – Riata Capital Group (“Riata”) announced that its portfolio company Acuity Eyecare Group (“Acuity”), an owner and operator of leading North American eyecare groups and optometry practices, has acquired two new regional eyecare practices, Carlsson Family Eye Center, a single location practice based in Gilbert, Arizona, located southeast of Phoenix, and Pediatric & Adult Vision Care, a single location practice based in Wexford, Pennsylvania, with a Vision Therapy office in Fox Chapel, both located near Pittsburgh. Acuity owns over 100 locations across 10 states, as well as a large, full-service digital lab operation, The First Look Lab, located outside of St. Louis, Missouri. The Company expects to grow to over 150 locations by early 2020.

  • Carlsson Family Eye Care: Founded in 2006 by Dr. Chad Carlsson, OD, consists of one office in Gilbert, Arizona. Known for high-quality family eye care from infants and children to adults and seniors, Carlsson Family Eye Center combines next-generation medical technology with extraordinary service to deliver a unique, personalized eyecare experience. They offer comprehensive eye exams, Ortho-K and scleral lens fittings, as well as a wonderful selection of quality eyewear and contacts.
  • Pediatric & Adult Vision Care: Founded in 1990 by Dr. Robert Prazer, OD, a Developmental Optometrist, operates a full-service practice in Wexford, Pennsylvania, as well as a Vision Therapy office in Fox Chapel. Pediatric& Adult Vision Care combines extensive experience with extraordinary service to deliver a very comprehensive and customized eye care experience. Pediatric& Adult Vision Care is also known in the community for its annual event, Vision Care from the Heart, where complimentary eye exams and glasses are provided to those in need who do not have vision insurance.

Eric Anderson, CEO of Acuity Eyecare Group, said, “We are thrilled that Carlsson Family Eye Center and Pediatric & Adult Vision Care have joined our growing Acuity family. They are both a terrific fit with our AEG team as respected local eye care practices serving their communities. Carlsson Family Eye Center has an excellent reputation for providing superior patient care and a personalized eye care experience.” Mr. Anderson continued, “Pediatric & Adult Vision Care truly embodies the spirit of promoting better patient outcomes in our community through specialized treatments and personalized vision care for the whole family.”

“The additions of Carlsson Family Eye Center and Pediatric & Adult Vision Care build on our strong presence in the Phoenix and Pittsburgh markets, respectively, as they are very complementary to our recent acquisitions in both markets,” said Bret Davis, VP Corporate Development. “Our unique Acuity growth model enables us to continue strategic expansion in existing markets while also entering new markets. We look forward to sharing more news in the near future as our growth momentum continues with key acquisitions across the U.S.”

About Acuity Eyecare Group

Acuity Eyecare Group (“AEG”) is a rapidly growing community of wholly-owned optical practices that deliver full-scope optometry coupled with a well-run dispensary. The core purpose that unifies AEG’s doctors and associates is to “improve the health of our community by helping our neighbors see better and look their best, one patient at a time”. To achieve this, AEG strives to maintain the local DNA that has made each practice successful. At the same time, AEG enables each business to elevate its operation by leveraging our “Common Platform”. Founded in March 2017, AEG currently operates 100+ locations operating under different regional brands across 10 states. For more information, please visit www.acuityeyecaregroup.com.

About Riata Capital Group

Riata Capital Group is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately-held companies across North America with a focus on three industry sectors: business services, consumer, and healthcare services. The firm takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Riata has closed over 20 acquisitions in the past twenty-four months, and over the course of their careers, the principals of Riata have sponsored over 153 acquisitions representing over $4.5 billion in transaction value. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm's core sectors, Riata provides a compelling value proposition to business owners and entrepreneurs. For more information, please visit www.riatacapital.com.

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June 5, 2019

Acuity Eyecare Group Acquires Two Pittsburgh-Area and One Cleveland-Area Optometry Practice in Separate Transactions

Dallas, TX – June 5, 2019 – Riata Capital Group (“Riata” or “RCG”) said Tuesday that its portfolio company Acuity Eyecare Group has acquired two separate Pittsburgh-area eyecare practices, Eyes on Regent Square (in Pittsburgh) and Clear Vision Family Eyecare, a single-location practice based in Mars, PA (north of Pittsburgh), and a Cleveland-area eyecare practice, Gale’s Vision Source, a single-location practice based in Solon, OH (east of Cleveland). The terms of the transactions were not disclosed. Acuity now owns and operates more than 100 eyecare and optometry locations across 10 states, according to Tuesday’s announcement. The firm also owns a large, full-service digital lab operation outside of St. Louis. Acuity said it expects to expand to more than 150 locations by early 2020.

  • Eyes on Regent Square: Founded in 1992, is well known for its state-of-the-art technology and highly personalized service. The practice offers comprehensive eye exams, specializing in ocular disease, ocular trauma care and preoperative consultations for refractive surgeries. Eyes on Regent Square and its founder, Dr. Maureen Weldon Kamons, OD, have received multiple awards and recognitions, including “Best of Pittsburgh” and “Optometrist of the Year.”
  • Clear Vision Family Eyecare: Founded in 2007 by Drs. Shannon Mihalacki, OD, and Rebecca Woodring, OD, has always focused on providing patients with an excellent eyecare experience combined with outstanding service. The practice provides comprehensive care in ocular health, including dry eye management, refractive surgery co-management, pediatric eyecare and disease management.
  • Gale’s Vision Source: Founded in 1973 in Solon, Ohio by Dr. David J. Gale, OD, Gale’s Vision Source is known in the Solon community as a leading provider of vision care products and customer service. The practice offers comprehensive eye exams and several cutting-edge vision care services, including pediatric eye health care, dry eye relief, eye disease treatment, and orthokeratology.

“Eyes on Regent Square and Clear Vision Family Eyecare are wonderful additions to our Acuity family,” Chief Executive Officer Eric Anderson said. “They are both highly regarded practices that align very well with Acuity’s core purpose and values with their commitment to excellence in patient care.” Anderson continued, “We are also very pleased with the acquisition of Gale’s Vision Source. They are a natural addition to the Acuity portfolio as their long-standing reputation for providing high quality, patient-focused services makes them a great fit with our team’s vision as caring eye care providers in our local communities.”

The addition of the Eyes on Regent Square and Clear Vision Family Eyecare practices also expands Acuity’s “strong foundation in the Pittsburgh market,” added Bret Davis, VP Corporate Development. “We continue to receive very positive interest from the industry based on our strategically differentiated business model,” he said.

About Acuity Eyecare Group

Acuity Eyecare Group (“AEG”) is a rapidly growing community of wholly-owned optical practices that deliver full-scope optometry coupled with a well-run dispensary. The core purpose that unifies AEG’s doctors and associates is to “improve the health of our community by helping our neighbors see better and look their best, one patient at a time”. To achieve this, AEG strives to maintain the local DNA that has made each practice successful. At the same time, AEG enables each business to elevate its operation by leveraging our “Common Platform”. Founded in March 2017, AEG currently operates 100+ locations operating under different regional brands across 10 states. For more information, please visit www.acuityeyecaregroup.com.

About Riata Capital Group 

Riata Capital Group is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately-held companies across North America with a focus on three industry sectors: business services, consumer, and healthcare services. The firm takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Riata has closed over 20 acquisitions in the past twenty-four months, and over the course of their careers, the principals of Riata have sponsored over 151 acquisitions representing over $4.5 billion in transaction value. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm's core sectors, Riata provides a compelling value proposition to business owners and entrepreneurs. For more information, please visit www.riatacapital.com.

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March 1, 2019

Riata Capital Group’s WSS Enters into Strategic Relationship with the Dallas Cowboys

Dallas, TX – March 1, 2019 – Riata Capital Group (“Riata”) today announced that its portfolio company, WSS (“WSS” or the “Company”), a Los Angeles-based premier athletic specialty footwear and apparel retailer, has entered into a strategic relationship with the Dallas Cowboys. The relationship will bring together the Dallas Cowboys’ world-class brand with WSS and its core Hispanic and Latino customer base and provide for distribution of Dallas Cowboys’ merchandise across all WSS retail platforms.

WSS currently operates 80 athletic footwear and related apparel retail stores serving Hispanic and Latino neighborhoods in California, Nevada, Arizona and Texas, and plans to open 50 to 75 additional stores in Texas over the next four to five years. WSS stores average approximately 11,000 square feet and offer a broad selection of top name brands including Nike, Jordan, Adidas, Vans, Converse, Puma, Reebok, and Fila, complemented by its own private label brands that provide additional value and selection for its customers. The Dallas Cowboys’ brand, the preeminent franchise in all of sports worldwide, is also the most popular in the NFL among Hispanic and Latino consumers across North America.

Commenting on this new relationship with the Cowboys, Mr. Alon said, “From the first time that I sat down with the passionate and visionary Jerry Jones, I was struck by his keen understanding and infectious excitement for our WSS concept.  The Cowboys have been NFL pioneers in building their brand worldwide and recognizing the importance of the Hispanic and Latino consumer to their franchise.  For me, as important as the business side of this, they share and actively participate in our mission of elevating our neighborhoods, one step at a time and of giving back to the communities we serve.”

WSS President and former President and CEO of both Footlocker and Champs Sports, Rick Mina, stated, “We could not be more excited about this strategic relationship with the Dallas Cowboys and the Jones family.  The blue star resonates with our customers in a very special way. The Cowboys and the Jones family operate at an elite level and bring resources way beyond capital that will help us continue to build our brand and execute the strategic growth of WSS.”

The strategic relationship between WSS and the Cowboys was orchestrated by Dallas-based Riata and comes on the heels of WSS successfully opening its first stores in Texas. “It has been a pleasure to help this alliance come together between two best-in-class organizations,” commented Barron Fletcher, co-managing partner of Riata.  “And we are excited about the future for WSS and the company’s continued strong growth and performance that will only be enhanced by this relationship with the Cowboys.”

Since closing its investment in WSS in October 2016, Riata has been actively investing, having completed 11 acquisitions, with several acquisitions pending. Riata is focused on investments in the business services, consumer, and healthcare services sectors. In addition to investing behind the theme of the continued secular growth and development of the Hispanic demographic with WSS, Riata is focused on themes of an aging population, increased eye pathology, and physician consolidation with Acuity Eyecare Group, and technology-enabled products and services with Extract Companies.

About Riata Capital Group

Riata Capital Group, LLC is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately-held companies in three core industry sectors – Business Services, Consumer, and Healthcare Services. Over the last 25 years, the principals of Riata have sponsored over 59 platform investments and 85 add-on acquisitions representing over $4.5 billion in transaction value.  With extensive investment experience, a balanced team with both financial and operating expertise, a strong team of seasoned operating partners, and deep experience in its three targeted sectors, Riata provides entrepreneurs and management teams the support they need to build exceptional middle market companies. (www.riatacapital.com)

About WSS

WSS is a premier footwear and apparel retailer in the U.S. doing business in inner-city, neighborhood-based stores. Consumers trust WSS for the best brands and largest selection of athletic, dress, fashion, work and casual footwear for the entire family. WSS’ large store format enables us to showcase thousands of styles from top name brands like Nike, Jordan, adidas, Vans, Converse, Puma, Reebok, Fila, Timberland, etc. In addition, WSS carries high quality private brands augmenting the breadth of selection to deliver amazing value to our customers.  Founded in Southern California in 1984 by entrepreneur Eric Alon, WSS has grown to 80 stores in the southwest.

WSS is committed to giving back to the communities they serve, partnering in over 350 local events each year. Stay connected to @shopWSS via Facebook, Instagram and Twitter and at www.shopWSS.com.

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January 18, 2019

Riata Capital Group Promotes Two to Vice President

Dallas, TX – January 18, 2019 – Riata Capital Group (“Riata”) today announced that it has promoted two of its investment professionals, David Parker and Mitchell Wyly, to the position of Vice President. Both had previously served as Senior Associate, and joined the firm at its inception in 2015. Prior to joining Riata, Mr. Parker was an analyst with Citigroup and Mr. Wyly was an associate with Trailblazer Capital.

David F. Parker, Jr.
Mitchell Wyly
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January 9, 2019

Acuity Eyecare Group Completes Significant Acquisitions in Colorado and Nebraska — Receives Investment from J.P. Morgan Asset Management

Dallas, TX – January 9, 2019 – Riata Capital Group (“Riata”) today announced that its portfolio company Acuity Eyecare Group (“Acuity”), an owner and operator of leading North American eyecare groups and optometry practices, has acquired two new regional eyecare groups, totaling 18 locations:

  • ABBA Eye Care, based in Colorado Springs, Colorado, which operates 13 full-service optometry locations in Colorado Springs, Pueblo, Alamosa, Aurora, Fountain, Gunnison, La Junta, Lamar, and Pagosa Springs.
  • EyeCare Specialties, based in Lincoln, Nebraska, which operates 5 full-service optometry locations in Lincoln, Beatrice, and Fremont.

Riata also announced that funds and accounts advised by J.P. Morgan Asset Management (“J.P. Morgan”) have made a substantial equity investment in Acuity to support the company’s continued growth and expansion. The investment from J.P. Morgan positions Riata to achieve its stated plan of building Acuity to 200-300 locations over a three-to-five-year period through the acquisition of additional regional eyecare groups and independent optometry practices.

Acuity now owns nearly 90 locations across 8 states under 10 different local brands, as well as a large, full-service digital lab operation, The First Look Lab, located outside of St. Louis, Missouri. The Company expects to exceed 100 locations by early 2019 based on other eyecare groups under letter of intent and its pipeline of prospects.

Eric Anderson, CEO of Acuity Eyecare Group, said: “We are very excited and privileged to add ABBA Eye Care and EyeCare Specialties to our growing Acuity family. Both brands share our values and core purpose as a caring community of local eye care providers. These practices are a great fit for Acuity given their focus on patient care and full-scope optometry. We are very pleased to have received such positive response in the marketplace, as eyecare groups and their providers are enthusiastic about partnering with Acuity.”

Jeff Fronterhouse, Managing Partner of Riata Capital Group, said: “We are excited to have J.P. Morgan Asset Management join us as an equity partner as we continue to build Acuity Eyecare Group into a market-leading eyecare platform. And the addition of ABBA Eye Care and EyeCare Specialties, two medically-oriented optometry groups, is a terrific way to finish out a strong 2018 for Acuity Eyecare Group. We look forward to continued growth and expansion in 2019.”

Riata has been very active since late 2016, having closed 11 acquisitions in the business services, consumer, and healthcare services sectors, with several additional transactions in its pipeline.

About ABBA Eye Care

Founded in 1978 by Dr. Marcus J. Meyer, O.D., ABBA Eye Care has grown from one office in Colorado Springs to 13 locations in Colorado. ABBA Eye Care’s practices include 4 locations in Colorado Springs, 2 in Pueblo, and 1 in Alamosa, Aurora, Fountain, Gunnison, La Junta, Lamar, and Pagosa Springs. ABBA Eye Care is known for high-quality products, personalized service and advanced optical technology. Services include comprehensive eye exams, dry eye treatment using the LipiFlow® procedure, in-depth examinations of ocular structures and eye diseases, and Lasik consultations with pre-and post-operative laser vision care. ABBA Eye Care also offers a broad assortment of fashionable prescription and non-prescription eye glasses, sunglasses as well as High Definition lens options and contact lenses. For more information, please visit www.abbaeyecare.com.

About EyeCare Specialties

Founded over 20 years ago by optometrists Jim Devine, Brian Hinkley, and James Kirchner, EyeCare Specialties is a southeast Nebraska-based eyecare group with 5 full-service eyecare centers and 1 vision therapy clinic. EyeCare Specialties practices include 3 locations in Lincoln, 1 in Beatrice, and 1 in Fremont, along with a vision therapy clinic in Lincoln. EyeCare Specialties is known for providing state-of-the-art optometric care and the best lifestyle choices in eyewear. Services include comprehensive eye health exams using the most technologically advanced instruments, vision therapy to address a variety of vision disorders, and dry eye treatment using the LipiFlow® procedure. EyeCare Specialties also offers an extensive line of fashionable eyeglasses, sunglasses, and contact lenses. For more information, please visit www.eyecarespecialties.com.

About Riata Capital Group

Riata Capital Group is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately-held companies across North America with a focus on three industry sectors: business services, consumer, and healthcare services. The firm takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of Riata have sponsored over 59 platform investments and 87 add-on acquisitions, representing over $4 billion in transaction value. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm’s core sectors, Riata provides a compelling value proposition to business owners and entrepreneurs. For more information, please visit www.riatacapital.com.

About J.P. Morgan Asset Management

J.P. Morgan Asset Management, with assets under management of $1.8 trillion (as of September 30, 2018), is a global leader in investment management. J.P. Morgan Asset Management’s clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. J.P. Morgan Asset Management is the marketing name for the asset management businesses of JPMorgan Chase & Co. (NYSE: JPM), and its affiliates worldwide.

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August, 8 2018

In Urban Markets, This Shoe Retailer Has Legs Expanding One Step at a Time

Retail chains don’t exactly line up to open new stores in a city like Lynwood, were residents are mostly Latino and African American and their income and education lag behind the Los Angeles County average.

But for WSS, a fast-growing Los Angeles company, Lynwood’s challenges were seen as opportunity. The chain, formerly known as Warehouse Shoe Sale, operates in the city of about 70,000 people and in other predominantly minority and urban communities, a business plan that is rare in the retail industry.

“We also hire from the local communities, and that has really been a key ingredient to the success of the business,” said Rick Mina, WSS president and a veteran executive of major national athletic shoe and sports equipment brands.

WSS is also noteworthy in the way that it is outpacing an industry that is expecting slow but steady expansion over the next several years.

WSS took the 59th spot among the world’s specialty sports products retailers, with 2016 revenue of $260 million, according to the most recent ranking by Sporting Goods Intelligence, an industry newsletter. In 2012, WSS weighed in at No. 170 with $170 million in revenue. (A WSS representative declined to provide revenue figures.)

“They have focused a lot of effective attention on the Latino market,” said John Horan, Sporting Goods Intelligence publisher. “They are serving a very fast-growing demographic and that puts WSS in a very good position.”

It all kicked off in 1977 when entrepreneur Eric Alon began selling shoes at swap meets out of a battered van.

The first brick-and-mortar Warehouse Shoe Sale opened in 1984, and the company now operates 82 stores, with 30 of them opening in the last five years.

Alon, who is still chief executive and majority owner, “built the company through hard work and sweat, and he had a very, very close relationship with his team,” Mina said. “To this day, we operate pretty much the same way.”

The stores sit on urban streets far from malls and sport an airy, warehouse-like feel, with boxes of shoes stacked on utilitarian shelves.

Potential buyers are greeted when they enter, but workers are encouraged to give customers broad latitude to simply browse.

If customers “want to just wander the store and look at whatever they want and try shoes on, they’re also welcome to do that,” said Mina, 61, who previously worked as president and chief executive of Champs Sports and in the same role at Foot Locker. “That’s been the philosophy in this business from Day 1. We don’t hassle the customer.”

Just getting customers at all was a problem during the last recession, when the already limited buying power in many working-class neighborhoods suffered. After profits fell for three straight years, the company consulted a branding expert, Topanga-based How Creative.

After How Creative prescribed shrinking the name to WSS, a website redesign, a new logo and a refreshed look for the stores, sales and profit growth took off, said Howard Lim, founder and president of How Creative.

“They have done outrageously well,” Lim said. “They have achieved much better relationships with their suppliers and their customers.”

Part of that, WSS executives said, stems from the crowded calendar of community events — about 350 in the last 12 months across the chain, most recently hosting World Cup soccer viewing parties.

In 2016, WSS picked up a minority investor to achieve even more.

Dallas-based Riata Capital Group, which has helped seed other sports retailers such as Moosejaw, paid an undisclosed amount for a minority stake in WSS with an eye toward helping the company expand.

There are 10 store openings in the works, with one in Rialto slated for the next few months.

The firm has slowly begun to expand outside California, opening its first stores recently in Houston and El Paso, for example.

Many retail chains are attracted to urban neighborhoods only after they have begun to gentrify, attracting an influx of relatively affluent residents, said Rachel Meltzer, associate professor of urban policy at the New School in New York.

“My intuition is that the businesses and entrepreneurs that do go into these communities probably have information that other retailers don’t,” such as knowledge that residents are hungry for good nearby retail options, Meltzer said.

“For businesses sitting far away from these neighborhoods, there can be a real information gap about understanding what the demand could be,” Meltzer said.

Once promises have been made, however, follow-through is important.

“It’s not just about showing up and having a storefront,” Meltzer said. “There have been chains that have been hurt by maybe one bad experience and then the next neighborhood doesn’t necessarily want to welcome them in.”

Lynwood officials were watching when WSS opened a store there in 2017. They say they have been pleasantly surprised.

“WSS has lived up to the promises it made when it opened in Lynwood — hiring local people, especially some of our young people, and supporting city and civic events,” Mayor José Luis Solache said. “They have been a good neighbor and we wish more companies would follow their model.”

Lynwood residents make up more than half of that store’s employees.

For Paula Santillan, 30, the Lynwood store “has been a career for me.”

“As soon as I finished high school, I started working for WSS. I started off as a sales associate, just selling shoes,” said Santillan, who has risen up the store’s ranks to manager over her 12 years with the company.

“The company has a mission statement, ‘We elevate the neighborhood one step at a time,’ and it has done that for me,” Santillan said.

Another Lynwood resident, 20-year-old Kevin Estrada, liked shopping at WSS so much that he decided to get a job there selling shoes.

“They always had the brands I liked. They had the K-Swiss, they had the Nikes, they had the Adidas, so I always wanted to come to WSS,” said Estrada, who is also studying kinesiology at El Camino Community College.

Estrada said being able to have a job near his home has helped him maintain a difficult schedule of working and pursuing a degree.

“If WSS hadn’t hired me, I’m not sure I could do it,” he said.

In terms of selection, the current generation of hard-core shoe aficionados won’t be impressed with much of WSS’ inventory, but that isn’t the chain’s target audience.

With a price range between $25 and $250, Mina said, customers know “that a family of four can come in here and buy shoes for the whole family for $150.”

The stores stock major brands including Nike, Jordan, Adidas, Vans, Converse, Reebok, Puma and, most recently, Fila.

Within a month of the Lynwood store opening, it expanded to accommodate a new soccer apparel section.

“We’re always looking for opportunities that we believe are culturally important to our consumer,” Mina said. “Soccer is the sport. Although they do play basketball and we do have consumers in that arena, almost all of our customers enjoy soccer.”

Roderick Aiken, 42, vice president of marketing for WSS, said that customers occasionally have access to the same limited-run, special-edition shoes that are also available in high-end national chain stores.

“Some are collector’s items. One of those was last year for Latino Heritage Month,” Aiken said, referring to well-known Mexican street artist Saner’s take on the Nike Air Force 1. “It was covered in faux jaguar hair and we ran out of them very quickly.”

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May 2, 2018

Riata Capital Group Closes Investment in Extract Production Holdings

Dallas, TX – May 2, 2018 – Riata Capital Group (“Riata” or “RCG”) today announced it has closed on its strategic partnership with Extract Production Holdings , LLC (“Extract”or the “Company”), a fully-integrated provider of artificial lift systems and related parts and services to North American energy producers, to support the Company’s organic and acquisition-driven growth initiatives.  Terms of the transaction were not disclosed.

Based in Tulsa, Oklahoma, Extract provides comprehensive artificial lift solutions and related surface pressure applications for its customers and is currently focused on both electric submersible pump (ESP) solutions and related horizontal pump (H-Pump) systems, parts and services under the Extract Production Services and Hoss Pump Systems brands.  Operating primarily in the Mid-Continent and Permian Basins, Extract plans to increase its presence considerably in both regions as well as add adjacent forms of artificial lift systems and services to fulfill its costumers’ requirements across a wider spectrum of producing environments.

Regarding Riata’s investment, Brad Goebel, CEO of Extract, said, “Having worked with and enjoyed considerable success with Riata’s principals in our previous artificial lift platform, having generated over 5x invested capital, our team is excited to have Riata as a partner. Their capital, experience and strategic support will further equip us to serve our customers while facilitating the accelerated growth of our capabilities, our footprint and the Extract brand.”

Barron Fletcher, Managing Partner of Riata, said, “We are excited to re-enter the artificial lift category that we know so well and partner with Brad and his exceptional team of operators.  As a critical, production-related service category, the artificial lift market continues to be driven by strong secular demand from energy producers to help them meet their production needs. With deep industry experience and customer relationships, best-in-class ESP and H-Pump systems and services offerings, and exceptional leadership, Extract is well positioned to become a formidable platform in the $5.5 billion North American artificial lift services market.”

About Riata Capital Group 

Riata Capital Group is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately-held companies across North America with a focus on three industry sectors: business services, consumer, and healthcare services. The firm takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of Riata have sponsored over 146 acquisitions representing over $4.5 billion in transaction value. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm's core sectors, Riata provides a compelling value proposition to business owners and entrepreneurs. For more information, please visit www.riatacapital.com.

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March 14, 2018

Acuity Continues Growth Momentum with Two New Acquisitions

Dallas, TX – March 14, 2018 – Riata Capital Group (“Riata”) announced today that Acuity Eyecare Group (“Acuity”) has acquired two new regional eyecare groups as of March 2018:

  • One Hour Optical, based in the Denver market with four full-service locations including Denver, Aurora, Greenwood Village and Thornton, and one location in the Denver Health Hospital
  • 20/20 Image Eye Centers, based in the Phoenix market with five full-service locations including Fountain Hills, Tempe, Scottsdale, Glendale and Chandler

Jeff Fronterhouse, Managing Partner of Riata Capital Group, said: “We are excited to have successfully completed these recent acquisitions. They are both strong additions to our existing Acuity portfolio and provide expansion into new markets that are dynamic and growing. Our continued focus will be to support our Acuity family with the important tools and resources needed to provide patients with full-scope professional eyecare and the highest quality product assortment and value.”

Acuity owns and operates leading North American eyecare groups and optometric practices, with over 70 locations across 8 states. Acuity also owns a large, full-service digital lab operation, The First Look Lab, located outside of St. Louis.

“We are thrilled to have added One Hour Optical and 20/20 Image Eye Centers to the Acuity family. They are not only well-known and well-respected in their markets, but their patient-focused philosophy truly make them a great fit for us. We are building a terrific culture of people across Acuity, and our highly experienced and talented management team is focused on driving growth and positive momentum in the marketplace,” said Eric Anderson, CEO of Acuity Eyecare Group.

Bret Davis, VP Corporate Development at Acuity Eyecare Group adds, “It was a pleasure working with Kevin Breslaw of One Hour Optical in Denver, as well as Drs. Tom and Vasvi Babu of 20/20 Image Eye Centers in Phoenix, throughout the acquisition process. We are actively looking for high potential eyecare groups that share our vision for exceptional patient care, and have a collaborative approach to growing the business.”

Acuity will continue to expand its market-leading eyecare platform through the acquisition of additional regional eyecare groups and independent optometric practices. The Company expects to grow to over 100 locations by mid-2018. Acuity looks forward to sharing news of future acquisitions, exciting innovation and continued successes throughout the year.

About One Hour Optical

Founded in 1968 and currently owned by Kevin Breslaw, One Hour Optical is a Denver-based eyecare group with 4 full-service eyecare centers located in Denver, Aurora, Greenwood Village and Thornton, and 1 location in the Denver Health Hospital. One Hour Optical’s top priority is customer care and offers affordable vision services and comprehensive eye exams with caring, knowledgeable opticians. Additionally, they offer a wide variety of styles and brands of eyeglasses, sunglasses, contact lenses and safety wear. For more information, please visit www.onehouroptical.com.

About 20/20 Image Eye Centers

Founded in 1996 by Dr. Tom Babu and Dr. Vasvi Babu, 20/20 Image Eye Centers is a Phoenix-based eyecare group with 5 full-service eyecare centers located in Tempe, Scottsdale, Glendale, Fountain Hills and Chandler. 20/20 Image Eye Centers offer the highest quality of vision care with courtesy and compassion. 20/20 Image Eye Centers takes a complete approach to caring for its patients and offers a full-range of optical services, comprehensive eye exams and an extensive line of eyeglasses, sunglasses, and contact lenses. For more information, please visit www.2020image.com.

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March 12, 2018

Acuity Eyecare Group Announces New Chief Executive Officer

Dallas, TX – March 12, 2018 – Riata Capital Group (“Riata”) announced today the appointment of Eric Anderson as Chief Executive Officer of Acuity Eyecare Group (“Acuity”), effective March 12, 2018. Anderson was also elected to the Board of Directors of Acuity Eyecare Group, effective October 2017.

Acuity Eyecare Group, formed by Riata Capital in March 2017, owns and operates leading North American eyecare groups and optometry practices. As of March 1, 2018, Acuity operates more than 70 optometry locations across 8 states. Acuity also owns a large full-service digital lab operation, The First Look Lab, outside of St. Louis.

Jeff Fronterhouse, Managing Partner of Riata Capital Group, said: “We are excited to welcome Eric Anderson to the Acuity family as our new CEO. He is a proven industry leader who brings tremendous optical experience, a strategic vision for growth, and a relentless focus on developing great talent. As a recent member of Acuity’s Board of Directors, we were able to see Eric’s impact firsthand and recognize that his world-class leadership will be critical to realizing our future potential in the marketplace. Eric shares our passion for growth and people, which is instrumental as we continue to expand our market-leading platform.”

“Eric shares our passion for growth and people, which is instrumental as we continue to expand our market-leading platform.”

JEFF FRONTERHOUSE

MANAGING PARTNER, RIATA CAPITAL GROUP

Anderson brings over three decades of impressive business and optical industry success spanning multi-billion dollar companies across both domestic and international markets. Prior to joining Acuity, Anderson served as Executive Vice President at Fossil Group leading their $3 Billion multi-brand licensed portfolio. Previous to Fossil, he spent almost 20 years at Luxottica in several prominent leadership positions including President & GM of LensCrafters North America, Chief Executive & GM of GMO Opticas in Santiago, Chile, SVP & GM of Target Optical, VP Marketing & Business Development for Pearle Vision, and VP at Sunglass Hut. Anderson is well-known for his collaborative leadership style, drive for results, and ability to build strong, diverse teams.

“I am energized by the positive impact the optical business has on our patients and customers, and the amazing associates and doctors that make that possible. I feel honored to be joining the Acuity team and to have the opportunity to be part of an organization that embraces these ideals as we chart our path for strategic growth,” said Eric Anderson.  “I’m also looking forward to further building upon a strong leadership team with diverse backgrounds and experiences, and a proven track record of success.”

Riata also announced that Matt Matthews will be transitioning into a different executive role from his former position as Acuity’s CEO, and will continue to support Acuity through his strong industry relationships, business development efforts, and involvement on Acuity’s Board of Directors. Matthews was the former CEO of Crown Vision Center, which was ranked in 2016 by Vision Monday as the 26th largest eyecare group in the U.S. based on locations. He led the early integration of the initial three regional eyecare groups that were acquired to form Acuity, and personally knows the many benefits of becoming part of the Acuity family.

“We are appreciative of Matt’s contributions managing through the initial formation and integration of Acuity. He agreed to serve as CEO our first year as a company and his extensive optical experience has been important in building our capabilities,” said Jeff Fronterhouse. “These leadership changes we are now making are consistent with earlier developed long-term growth plans.”

Acuity will continue to expand its market-leading eyecare platform through the acquisition of additional regional eyecare groups and independent optometric practices. The Company expects to grow to over 100 locations by mid-2018. Acuity looks forward to sharing news of future acquisitions, exciting innovation and continued successes throughout the year.

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January 22, 2018

Acuity Eyecare Group Strengthens Management Team with Addition of Four Senior Executives

Dallas, TX – January 22, 2018 – Acuity Eyecare Group, which was formed by Riata Capital Group in 2017, has bolstered its management team with the addition of four experienced executives as it further supports practices in the group’s holdings and prepares to continue expanding this year. Acuity, as VMAIL reported, launched last March with a strong platform following the simultaneous acquisition of three cornerstone regional eyecare groups: Crown Vision Center, based in St. Louis; Eyetique, based in Pittsburgh, and International Eyecare Center, based in Quincy, Ill.

The recent additions to the Acuity management team are Shawn Deckert, as vice president of operations; Brian McCrea, as vice president of strategic initiatives; Meera Dua, as chief merchandising officer; and Lora DeVuono as chief marketing officer. “These most recent hires enable Acuity to be very well poised for continued growth and expansion across the country,” according to the company’s announcement.

Acuity is led by an experienced management team that includes chief executive officer Matt Matthews, chief financial officer Doug Shepard, chief information officer Satish Dave and vice president of corporate development Bret Davis.

Jeff Fronterhouse, managing partner of Riata Capital Group, said: “Based on our successful investment in Vision Source from 2011 to 2015, we are excited to continue to leverage and build upon our strong network of relationships, experience and track record in the eyecare industry. Acuity Eyecare Group is off to a very strong start and we are seeing the impact in the marketplace of the team’s expertise and efforts.”

Fronterhouse also noted that the continued focus of the company will be “to support our Acuity family with the important tools and resources needed to provide their patients with full-scope professional eyecare and the highest-quality product assortment and value. We are committed to keep the momentum going in 2018 and beyond and look forward to sharing our accomplishments, growth and important milestones along the way.”

New chief merchant Dua began her career in optical at Cole Vision Corporation, and she subsequently held various leadership roles with Sears Optical, Target Optical and Pearle Vision. With the acquisition of Cole Vision by Luxottica, Dua continued to diversify her experience. She took on high-profile merchandising positions within Target Optical, LensCrafters, GMO, product development and also led category management for all optical divisions.

DeVuono, who has experience in brand marketing and advertising, began her career at General Mills and then spent 20 years in multiple leadership roles at PepsiCo within Quaker Oats and Frito Lay. As SVP/ group vice president of brand marketing and advertising at Frito Lay, she led the entire marketing team and a powerful portfolio of multi-billion dollar brands.

Under her marketing leadership, Frito Lay transformed the health and wellness arena and built over a $1 billion dollar portfolio through consumer-centric innovation, advertising excellence and a high impact retail presence, according to the announcement. In addition to her Acuity role, DeVuono serves as an operating partner for Riata Capital Group.

Deckert, who began his optical career more than 25 years ago, has a broad range of eyecare experience that spans independent optical companies as well as some of the most iconic brands in the industry, including Target Optical, Oakley, LensCrafters and Sunglass Hut International. As vice president of operations at Target Optical, Deckert was instrumental in leading a turnaround by focusing on culture and “transforming [Target Optical] into one of the fastest-growing optical companies for more than a decade,” according to the announcement.

McCrea, who brings 25 years of experience within the optical industry, most recently was vice president of Central and LensCrafters Manufacturing for North America. He is best known for his results-oriented leadership style and successful implementation of large-scale organizational initiatives, according to the announcement. McCrea also has worked with Luzerne Optical, Lens Lab, Northeastern Eye and the LensCrafters unit of Luxottica. He spent 19 years with Luxottica and progressed through several key leadership roles.

In late 2017, Acuity added to its holdings with the addition of Malbar Vision, the largest and oldest private optometric practice serving Nebraska, according to Acuity’s announcement. As of Dec. 31, 2017, Acuity operated more than 60 optometry locations across six states. Acuity also owns a large, full-service digital lab operation, The First Look Lab, outside of St. Louis.

Acuity said it is seeking to continue expanding its platform through the acquisition of additional regional eyecare groups and independent eyecare professionals. “Acuity currently has three additional groups under letter of intent, and expects to grow to over 100 locations by mid-2018,” according to the announcement. “This is a direct result of the market’s exceptional response to Acuity’s compelling story, operating philosophy and holistic approach to eyecare.”

“We are building a terrific team of respected and capable industry leaders at Acuity,” Matthews said. “We recognize that our culture of great people is the most important element to success and will bring our mission to life. We want to empower optometry owners to maximize the value of their practice, spend less time on the day-to-day headaches of being a business owner, and bring those into the Acuity family that share our level of commitment to innovation and patient care.”

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March 31, 2017

Riata Capital Group Announces Formation of Acuity Eyecare

Dallas, TX – March 31, 2017 – Riata Capital Group (“Riata”) today announced the formation of Acuity Eyecare Holdings (“Acuity” or the “Company”), a company that will own and operate leading North American eyecare groups and optometry practices. Acuity launches with a strong platform following the simultaneous acquisition of three regional eyecare groups:

  • Crown Vision Center, based in St. Louis, which was ranked by Vision Monday as the 26th largest eyecare group in the United States based on locations;
  • Eyetique, based in Pittsburgh, which was ranked the 30th largest eyecare group in the United States based on locations; and
  • International Eyecare Center, based in Quincy, Illinois, which serves rural communities in Missouri, Illinois and Iowa.

Acuity begins operations with 61 locations across five states. Acuity will also own a large, full-service digital lab operation, The First Look Lab, that is located just outside of St. Louis.

Riata intends to expand Acuity into a market-leading eyecare platform through the acquisition of additional regional eyecare groups and independent eyecare professionals. The formation of Acuity is the second platform investment of the Riata principals in the eyecare sector. From 2011 to 2015, certain of the principals organized and led the very successful acquisition of Vision Source, a market-leading network of independent optometry practices across the United States. Under the leadership of a very seasoned management team, Vision Source grew from 2,300 to over 3,150 locations, making its network of member optometrists second only to Walmart in terms of number of locations. Vision Source was sold to Essilor USA in late 2015, generating strong returns for its investors.

Jeff Fronterhouse, Co-Managing Partner of Riata, said, “We are excited to build upon our strong network of relationships, experience, and track record in the eyecare industry to create Acuity Eyecare. We understand the pressures, as well as the opportunities, for optometrists as the industry continues to evolve. As such, we see the formation of larger and vertically integrated corporate entities leading some smaller and mid-sized providers to consider partnering with groups like Acuity that can provide capable business, financial, and commercial support, allowing optometrists and their staffs to focus on meeting the eyecare and product needs of their patients.”

Mr. Fronterhouse continued, “The combination of these three successful eyecare groups, that together have experienced higher rates of sales growth than the overall market, provides Acuity with a strong initial base of operations in the Midwest region. Our focus going forward will be to support these groups, as well as others that join Acuity, with the tools and resources necessary to provide their patients with full-scope professional eyecare and the highest quality product assortment and value.”

Acuity is led by an experienced and successful management team, including Chief Executive Officer Matt Matthews, the former CEO of Crown Vision; Chief Financial Officer Doug Shepard, the former CFO of Eye Care Centers of America, Chief Merchandising Officer George Gebhardt, the former CMO of Visionworks, Vice President of Corporate Development Bret Davis, the former SVP of Business Development for Vision Source; and other senior executives from the leadership teams of Crown Vision, Eyetique and International Eyecare. Additionally, Acuity has assembled a board of directors consisting of experienced and very successful executives from the industry that will bring valuable insight as Acuity looks to expand.

Mr. Matthews noted, “We are excited to be a part of the Acuity platform, which is well-positioned for success with the support of Riata, an experienced capital partner that brings a deep set of industry relationships. In addition to the existing leadership teams at each of the three businesses, we have an impressive team at Acuity that brings substantial experience in important areas including medical eyecare, digital manufacturing and lab management, merchandising, supply chain, finance, and IT. We look forward to the exciting growth opportunities ahead for Acuity.”

Glenn Askew, a Riata Partner, commented, “Acuity is well-positioned for growth, and we will look to further expand the Company’s footprint in the Midwest and other regions organically and through the acquisition of additional market-leading eyecare groups and independent optometrists in attractive markets.”

In connection with the transaction, HPC Puckett & Co. provided financial advice to Crown Vision Center, Eyetique and International Eyecare Center.

About Riata Capital Group

Riata Capital Group is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately-held companies across North America with a focus on four core industry sectors: consumer, energy, healthcare, and business solutions. The firm takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of Riata have sponsored over 55 platform investments and 75 add-on acquisitions representing over $4 billion in transaction value. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm’s core sectors, Riata provides a compelling value proposition to business owners and entrepreneurs.

About Crown Vision Center

Founded in 1961, Crown Vision Center is a St. Louis-based eyecare group with 28 full-service eyecare centers. Crown offers affordable vision services and a wide variety of designer eyeglasses, sunglasses, and contact lenses to more than 60,000 patients in the St. Louis area each year. Additionally, Crown Vision Center owns a full-service digital lab, The First Look Lab, which surfaces, finishes, and AR coats lenses for Crown customers and third parties. Crown is also a provider of integrated medical eyecare services including LASIK, and the full range of Ophthalmology services and surgery. For more information, please visit www.crownvisioncenter.com or call 800.EYECARE.

About Eyetique

Founded in 1979 by Norman Childs, Eyetique is a Pittsburgh-based eyecare group with 21 eyecare centers, operating under the brands Eyetique, 3 Guys Optical Center, Norman Childs Eyewear, and Chromos Eyewear. The Eyetique brand is a long-established, high-end eyecare group selling premium third-party brands and its own Norman Childs Eyewear Collection, which is handcrafted in the USA. 3 Guys Optical, which was purchased and rebranded by Eyetique in 2010, is an accessible, value-oriented eyecare retailer offering a wide selection of eyeglasses and contact lenses. Comprehensive eyecare services are offered across all Eyetique and 3 Guys Optical locations. For more information, please visit www.eyetique.com or call 800.422.5320.

About International Eyecare Center

Founded by Dr. Jack McDougall in 1981, International Eyecare Center has grown from a single location in Quincy, Illinois, to 12 locations serving Illinois, Iowa, and Missouri. For over 30 years, IEC has provided its customers with the latest in eyecare, contact lens innovations, fashion eyewear, and comprehensive eye exams for the entire family. IEC is also a provider of integrated medical eyecare services, and the full range of Ophthalmology services and surgery. Standing behind its promise to its customers that “Your Vision is Our Focus,” IEC takes pride in its commitment to its patients, as well as every community that it serves. For more information, please visit www.iec2020.com or call 877.457.6485.

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December 2, 2016

Riata Completes Recapitalization of WSS, a Category-Leading Hispanic-Focused Specialty Retailer

Dallas, TX – December 2, 2016 – Riata Capital Group (“Riata”) today announced that it has completed the recapitalization of West Coast-based WSS, a category-leading, Hispanic-focused specialty retailer of athletic, fashion, and work-related footwear and accessories. Terms of the transaction were not disclosed.

Founded in 1984 by entrepreneur Eric Alon and headquartered in Los Angeles, WSS offers customers a full assortment of the leading athletic footwear brands (including Nike, Jordan, Vans, Converse, Adidas, Skechers, Fila and Reebok) and private footwear offerings in fashion for women and workwear for men. After years of successful growth, WSS currently operates 76 destination stores located in underserved, predominantly Hispanic neighborhoods in California, Arizona, and Nevada.

Barron Fletcher, Co-Managing Partner of Riata, said, “We have been impressed by the  unique platform that Eric Alon, Rick Mina and their team have built in WSS, creating a  retail experience with real differentiation within its marketplace. Their core predominantly Hispanic customer continues to be underserved in the athletic and overall footwear retail space. We have been evaluating Hispanic-facing consumer platforms for some time now and believe WSS provides a unique opportunity to invest in a high growth, category-leading platform serving this important consumer segment.  Additionally, based on our team’s experience investing in and building other leading athletic retail platforms, including Hibbett Sports, Lids and Moosejaw, and our Texas roots, we have a great deal to offer WSS as their investment partner.  We look forward to contributing to WSS’s continued growth in existing markets and their successful entry into new ones.”

Regarding Riata’s investment, Rick Mina, President of WSS, said, “We are excited to have Riata as our investment partner.  Their capital and strategic resources will enhance our team’s ability to continue growing our brand and our business over the next several years.  Riata’s team has a long, successful history with specialty retail equity investments, and we anticipate gaining significant benefits from their experience.”

Mr. Alon said, “Our partnership with Riata allows us to position the WSS brand name for continued and steadied growth in existing and new markets while maintaining our DNA, which has been one of the catalysts of our current and future success.”

Other recent successes for the WSS include the launch of its flagship store in downtown Los Angeles, the featuring of key elevated brand shop-in-shop areas within their 11,000 square foot stores, and the successful expansion into Arizona and Nevada.

About Riata Capital Group

Riata Capital Group is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately-held companies across North America with a focus on four core industry sectors: consumer, energy, healthcare, and business solutions. The firm takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of Riata have sponsored over 55 platform investments and 75 add-on acquisitions representing over $4 billion in transaction value. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm’s core sectors, Riata provides a compelling value proposition to business owners and entrepreneurs.

About WSS

WSS is a Hispanic-focused specialty retailer in the U.S. doing business in neighborhood-based stores. Consumers trust WSS for the best brands, greatest values and largest selection of athletic, dress, fashion and casual footwear for the entire family. WSS’s large store format enables the Company to showcase thousands of styles from top name brands like Nike, Jordan, Vans, Converse, Adidas, Puma, and Skechers. In addition, WSS carries high quality private brands augmenting the breadth of selection to deliver amazing value to its customers. Founded in Southern California in 1984 by entrepreneur Eric Alon, all WSS stores feature a unique retail format that displays every style and size allowing customers to browse on their own terms, in a hassle-free environment, engaging the friendly and knowledgeable sales staff when they choose. The success of this business model has allowed WSS to continue its rapid expansion into new markets. WSS is committed to giving back to the communities they serve, sponsoring or participating in over 350 local events each year. Stay connected with WSS via Facebook, Instagram and Twitter and at www.ShopWSS.com.

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