Click here to close now.




















Welcome!

News Feed Item

Brazos Private Equity Partners And Vision Source Complete Dividend Recapitalization Transaction

DALLAS, Sept. 3, 2014 /PRNewswire/ -- Brazos Private Equity Partners, LLC, a leading Dallas-based private investment firm, and Vision Source, L.P. ("Vision Source" or the "Company"), the market-leading practice development and supply chain solutions provider for independent optometrists and dentists, today announced the completion of a dividend recapitalization transaction. Golub Capital provided the financing to support the transaction via a uni-tranche term loan facility and revolver. Financial terms of the refinancing were not disclosed. Existing shareholders will maintain their existing ownership stake in the company going forward.

Based in Kingwood, Texas and established in 1991, Vision Source and its subsidiary Smile Source, through a network of over 3,000 practices across all 50 states, provide independent optometrists and dentists unmatched purchasing power, professional and staff development, and practice management assistance while allowing them to maintain their independence.  Vision Source's affiliated optometry practices cumulatively represent more than $2.0 billion of retail sales, making it the second largest optical network in the United States. 

"Vision Source is a market-leading healthcare services company with a compelling business model, strong growth potential and a unique opportunity to deliver solutions to integrated health systems and innovative medical groups," said Jeff Fronterhouse, Co-Chief Executive Officer and Co-Founding Partner of Brazos. "The Company has performed very well since our initial investment in April of 2011, has generated substantial free cash flow and is experiencing impressive growth. The dividend recapitalization was effected due to a substantially de-levered balance sheet and open and attractive financing markets. We look forward to our ongoing and successful partnership with Glenn Ellisor, O.D., Founder and Chairman, and Jim Greenwood, CEO and Brazos Operating Partner, as Vision Source continues to grow and evolve."

"The partnership with Brazos is an important component of our plans that are designed to allow Vision Source to reach its full potential," said Jim Greenwood.  "I am excited about what lies ahead for Vision Source and am thrilled to be working closely with Brazos.  Since being founded 23 years ago, Vision Source has become a market leader serving the independent optometry and dental industries, and we look forward to leveraging Brazos's network of relationships and proven expertise with growth businesses as we expand our business and increase the value of Vision Source to our members." 

About Vision Source, LP 
Headquartered in Kingwood, Texas, Vision Source is North America's largest network of independent optometrists and dentists.  The clinicians in the Vision Source network enjoy a wide range of innovative solutions, practice management tools, marketing and unsurpassed purchasing power. Leveraging these tools, the member clinicians offer comprehensive examinations to their patients, delivering an industry leading patient experience. For more information, call (888) 558-2020 or visit www.visionsource.com.

About Brazos Private Equity Partners, LLC
Brazos Private Equity Partners is a Dallas-based private equity firm that currently manages approximately $1 billion of equity capital.  Brazos focuses on investments in middle-market companies in the consumer, healthcare, commercial & industrial, and business services sectors with enterprise values up to $500 million. Brazos has been one of the most active middle-market private equity investment firms over the past decade, having completed 80 acquisitions representing approximately $3 billion in total transaction value. And during the past 18 months, the firm has completed three platform acquisitions, four add-on acquisitions, four dividend recapitalizations and exited one investment. The aggregate revenue of the firm's current portfolio of companies exceeds $2 billion.

For additional information about Brazos, please visit the firm's website at www.brazospartners.com.

Contact:

Mark Semer
Kekst and Company 
For Brazos Private Equity Partners, LLC 
(212) 521-4800

SOURCE Brazos Private Equity Partners, LLC

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducte...
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
Providing the needed data for application development and testing is a huge headache for most organizations. The problems are often the same across companies - speed, quality, cost, and control. Provisioning data can take days or weeks, every time a refresh is required. Using dummy data leads to quality problems. Creating physical copies of large data sets and sending them to distributed teams of developers eats up expensive storage and bandwidth resources. And, all of these copies proliferating...
Malicious agents are moving faster than the speed of business. Even more worrisome, most companies are relying on legacy approaches to security that are no longer capable of meeting current threats. In the modern cloud, threat diversity is rapidly expanding, necessitating more sophisticated security protocols than those used in the past or in desktop environments. Yet companies are falling for cloud security myths that were truths at one time but have evolved out of existence.
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...