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Acuity Eyecare Group closes acquisition of 2 eyecare groups

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Acuity Eyecare Group closes acquisition of 2 eyecare groups

Riata Capital Group LLC said its portfolio company Acuity Eyecare Group acquired two eyecare groups which operate at a total of 18 locations.

Colorado Springs, Colo.-based Abba Eye Care Inc. operates 13 full-service optometry locations in Colorado Springs, Pueblo, Alamosa, Aurora, Fountain, Gunnison, La Junta, Lamar and Pagosa Springs.

Meanwhile, Lincoln, Neb.-based EyeCare Specialties operates five full-service optometry locations in Lincoln, Beatrice, and Fremont.

The asset management company also said funds and accounts advised by JP Morgan Asset Management have made a substantial equity investment in Acuity to support its continued growth and expansion.

Acuity now owns nearly 90 locations across eight states under 10 different local brands, as well as a large, full-service digital lab operation. The company plans to exceed 100 locations by early 2019.

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