Riata Capital Group’s Acuity Eyecare Announces Acquisition of Family Eyecare of Winterset

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Eric Anderson (l) and Bret Davis.

DALLAS—Riata Capital Group said Thursday that its portfolio company Acuity Eyecare Group, an owner and operator of leading North American eyecare groups and optometry practices, has acquired Family Eyecare of Winterset, a single location practice based in Winterset, Iowa. The terms of the transaction were not disclosed. “We are pleased to add Family Eyecare of Winterset to our growing Acuity team,” Acuity chief executive officer Eric Anderson said in the announcement. “This acquisition is fully aligned with Acuity’s strategy to continue to build regional density in established geographies with practices that share our strong commitment to patient care. Family Eyecare of Winterset complements our International Eyecare (IEC) brand’s geographic footprint and our dedication to excellence in meeting our patients’ needs.”

In addition to IEC, which operates 12 locations in Illinois, Iowa and Missouri, Acuity has nine other local brands within its portfolio and owns nearly 90 locations across eight states as well as a large, full-service digital lab, The First Look Lab, near St. Louis.

Earlier this month, Riata announced that its Acuity business had acquired two regional eyecare businesses (ABBA Eye Care in Colorado and EyeCare Specialties in Nebraska) that operate a total of 18 locations, as VMAIL reported.

In addition, Riata said funds advised by J.P. Morgan Asset Management had made “a substantial equity investment in Acuity” to support ongoing growth and expansion. Acuity expects to grow to more than 150 locations by the end of 2019, the announcement Thursday stated.

“Family Eyecare of Winterset is a terrific addition to our existing presence in Iowa and overall Acuity portfolio,” Acuity vice president of corporate development Bret Davis said in the announcement. “We are committed to continuing our growth momentum in 2019 and beyond and look forward to sharing more news about future acquisitions.”

Founded in 2007, Family Eyecare of Winterset consists of one office in Winterset, and it is known for quality, personalized service, the announcement stated.