Essilor to acquire Brazos Private Equity Partners’ portfolio company

Brazos Private Equity Partners, LLC ("Brazos"), a leading Dallas-based private investment firm, today announced that it has agreed to sell its portfolio company, Vision Source, to Essilor of America, Inc., a subsidiary of Paris-based Essilor International (Reuters: ESSI.PA) and the leading manufacturer and wholesale distributor of optical lenses in the United States.

Founded in 1991 by Glenn Ellisor, O.D., Vision Source is North America's largest member alliance that provides a platform of products and services to independent optometrists. The clinicians in the Vision Source member alliance enjoy access to newly evolving patient channels, including an expanding list of leading medical groups and integrated health systems with whom Vision Source optometrists collaborate. Additionally, members benefit from a wide range of innovative technologies, practice management tools, strategic marketing, and supply chain programs and services. Leveraging these tools, the clinicians offer comprehensive eye care to their patients, delivering an industry leading patient experience.

Jeff Fronterhouse, Co-Chief Executive Officer and Co-Founding Partner of Brazos, said, "We are very pleased with our successful investment in Vision Source. Under our ownership and in partnership with a very talented management team, the company has experienced strong performance and impressive growth. Vision Source has had particular success with connecting its member optometrists with integrated health organizations that are looking for innovative provider groups to support improved population health management outcomes. We are very appreciative of Executive Chairman Glenn Ellisor, Chief Executive Officer Jim Greenwood, and the rest of the leadership team at Vision Source. They have done an outstanding job in building the company into a market leader and developing innovative ways to deliver enhanced value to the company's members."

Smile Source, an affiliated company of Vision Source that provides similar products and services to independent dentists, is not a part of the transaction. Brazos and the current shareholder group will continue to own and further develop Smile Source.

The transaction marks the second successful exit by Brazos of a healthcare investment this year. In April, Brazos sold its portfolio company Healthcare Solutions Inc. to Catamaran Corporation, a leading provider of pharmacy benefit management services and technology. Catamaran is now a part of OptumRx, UnitedHealth Group's free-standing pharmacy care services business.

Completion of the transaction is expected in the third quarter of 2015, subject to satisfaction of customary closing conditions.