Harvest Partners SCF, LP Invests in Atlantic Street Capital owned Advancing Eyecare

Atlantic Street Capital Management, LLC (“Atlantic Street Capital”), a private equity firm targeting entrepreneurial businesses poised for the next level of growth, and Harvest Partners SCF, LP (“HP SCF”), the non-control private equity strategy of Harvest Partners, LP, announced that HP SCF has led an investment in Advancing Eyecare Holdings, Inc. (“Advancing Eyecare”). Advancing Eyecare was formed through the combination of Atlantic Street Capital portfolio company Lombart Instrument (“Lombart”) and Marco Ophthalmic (“Marco”), and proceeds from HP SCF’s investment were used to fund the strategic merger. Atlantic Street Capital remains the majority shareholder in the company and HP SCF gained board representation. Additional terms of the HP SCF investment were not disclosed.

Advancing Eyecare (the “Company”) is a leading independent distributor and branded supplier of ophthalmic instruments to optometrist and ophthalmologist practices, teaching hospitals, and government hospitals in North America. The Company was formed through the combination of Lombart and Marco in February 2019. Lombart specializes in the distribution of basic lane ophthalmic products. Marco is a branded ophthalmic equipment supplier that specializes in the design and sale of high-tech diagnostic equipment. The Company is headquartered in Norfolk, VA and is led by CEO Brad Staley.

“We see many ways that Advancing Eyecare can continue its remarkable growth trajectory, and we’re excited to work with HP SCF to help accelerate the already strong momentum,” said George Parry, Partner of Atlantic Street Capital. “The HP SCF team will be excellent partners as they share our vision in continuing to grow and maximize value for both our customers and employees.”

Sean Murphy, Partner and Co-Head of HP SCF, said, “We are excited to join Atlantic Street Capital as an investor in Advancing Eyecare. The Company is the largest ophthalmic diagnostic equipment provider in North America and has a long history of organic and M&A-driven growth. We look forward to partnering with Atlantic Street and management.”

This announcement appears as a matter of record only. This does not constitute an offer to sell or a solicitation of an offer to purchase an interest in any current or future HP SCF or Harvest Partners, LP fund.