Jacksonville-based Advancing Eyecare, a provider of ophthalmic instruments and portfolio company of Atlantic Street Capital, announced Wednesday the acquisition of a New York-based provider of optical finishing equipment.
After the acquisition of Santinelli International, Advancing Eyecare is now comprised of Lombart Instrument, Marco Ophthalmic, INNOVA Medical and S4Optik.
“As we continually anticipate ways to help ophthalmic practices thrive, the addition of Santinelli International is a natural fit," Advancing Eyecare CEO Brad Staley said. "Santinelli International’s strong reputation for top‐quality products and their commitment to after‐sale service and customer satisfaction have contributed to their dominant market share in this space. We recognize the expertise this brings to Advancing Eyecare, and it introduces a new line of prestigious products and services to be made available to our customers.”
The financial details of the acquisition were not immediately available. Atlantic Street Capital targets entrepreneurial management partners and fundamentally sound companies between $4 million and $25 million of EBITDA that will benefit from capital investment.
“Santinelli International has served the market for nearly 50 years and is a cultural and professional fit to Advancing Eyecare," CEO of Santinelli International Gerard Santinelli said. "We are thrilled to add our edgers, blockers, tracers, consumables and accessories to the Advancing Eyecare portfolio of products.”
