Atlantic Street Capital announced that it will form Advancing Eyecare Holdings with a partnership between Marco Ophthalmic and Atlantic’s portfolio company, Lombart Instrument.
The transaction is expected to be completed in the first quarter of 2019 and is subject to customary closing conditions, according to the Atlantic Street Capital press release.
Marco, founded in 1967, is a market leading brand and U.S.-based supplier of diagnostic ophthalmic equipment based in Jacksonville, Fla. Lombart distributes ophthalmic instruments to ophthalmology and optometry practices in the U.S. and is headquartered in Norfolk, Va.
David Marco will continue as an investor in the business and will join Advancing Eyecare as co-chairman of the newly formed company and help advise the senior management teams, according to the release. Bryan Bevin, senior operating advisor to Atlantic Street Capital’s portfolio companies, will serve as co-chairman of the Advancing Eyecare board.
Bevin and Marco will oversee the operating and strategic guidance of all Lombart assets in the medical eye care marketplace in North America, including Lombart Instrument, Marco Ophthalmic, Enhanced Medical Services and Innova Medical Ophthalmics.