Company Completed 30 Acquisitions In 2019 Representing 60 Practices
DALLAS – Riata Capital Group (“Riata”) 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.