Cornell Capital’s Acquisition of Advancing Eyecare

Weil, Gotshal & Manges represented Cornell Capital, Kramer Levin represented Atlantic Street Capital in the transaction.

Atlantic Street Capital has entered into an agreement to sell Advancing Eyecare, a leading provider of ophthalmic instruments, to Cornell Capital. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2022.

Cornell Capital LLC is a U.S.-based private investment firm with ~$6 billion of AUM and offices in New York and Hong Kong. Leveraging decades of global investment experience, the firm takes a disciplined approach to investing across the consumer, financial services, and industrials/business services sectors, often in companies that can benefit from the firm’s Asia presence and cross-border expertise.

Advancing Eyecare™ is the leading provider in the eyecare instrumentation marketplace established to offer the best products and service solutions in the ophthalmic equipment industry. Currently comprised of Lombart Instrument, Marco Ophthalmic, INNOVA Medical, S4Optik, Santinelli International, and other leading brands, the combined scope of the organization has the broadest product portfolio, the most knowledgeable people, and the most reliable service in the industry.

Atlantic Street Capital is an operationally focused private equity firm that partners with entrepreneurs and management teams to create shared success.

CapM Advisors served as financial advisor to Cornell Capital. UBS Investment Bank, Jefferies and Golub Capital acted as joint lead arrangers for the transaction, with UBS Investment Bank as left lead arranger.

The Kramer Levin team advising Atlantic Street Capital was led by Corporate partner Eitan Tabak (Picture), and included Corporate associate Benjamin A. Edlin and law clerk Matthew Doyle; Tax partner Abraham (Avi) Reshtick and associate Rita Celebrezze D’Souza; Employment Law partner Robert N. Holtzman, and associates Jordan Fisher and Kelly Schreiber; Executive Compensation and Employee Benefits special counsel Avram J. Cahn; Intellectual Property counsel Kevin M. Moss and associate Austin Manes; Environmental partner Charles S. Warren and law clerk Lauren Katz; and Real Estate special counsel M. Mendel Trapedo and associate David C. Saltzman.

Involved fees earner: Avram Cahn – Kramer Levin Naftalis & Frankel; Rita Celebrezze D’Souza – Kramer Levin Naftalis & Frankel; Benjamin Edlin – Kramer Levin Naftalis & Frankel; Jordan Fisher – Kramer Levin Naftalis & Frankel; Robert Holtzman – Kramer Levin Naftalis & Frankel; Austin Manes – Kramer Levin Naftalis & Frankel; Kevin Moss – Kramer Levin Naftalis & Frankel; Abraham Reshtick – Kramer Levin Naftalis & Frankel; David Saltzman – Kramer Levin Naftalis & Frankel; Kelly Schreiber – Kramer Levin Naftalis & Frankel; Eitan Tabak – Kramer Levin Naftalis & Frankel; Mendel Trapedo – Kramer Levin Naftalis & Frankel; Charles Warren – Kramer Levin Naftalis & Frankel;

Law Firms: Kramer Levin Naftalis & Frankel;

Clients: Atlantic Street Capital;