August 27, 2015
Main Street Capital Holdings Acquires I-deal Optics
Main Street Partners with Management to Acquire a Leading Designer, Marketer and Supplier of Prescription Eyewear
PITTSBURGH, PA – August 27, 2015 – Main Street Capital Holdings, LLC, a private investment firm specializing in acquisitions of growth-oriented companies, announced that it has acquired I-deal Optics Holdings, Inc., a leading designer, marketer and supplier of prescription eyeglass and sunglass frames. Main Street partnered with management to complete the transaction. Terms of the deal were not disclosed.
Based in Troy, MI, I-deal Optics is a leading supplier of prescription eyeglass frames to the value segment of the market. The company delivers a combination of innovation and quality at the best prices possible across a broad portfolio of products consisting of eight brands and over six hundred styles. I-deal has delivered strong financial performance by consistently growing sales and earnings since it was founded in 1996. The company has gained the confidence of its private practice, national account and managed care customers through “on-trend” innovative design capabilities and superior customer service.
Michael Feldman, President and Chief Executive Officer of I-deal Optics, said “Partnering with Main Street is a great opportunity for our company. Our vision of adding to our eighteen years of consecutive growth aligns perfectly with Main Street’s goal of partnering with experienced management teams and growth-oriented businesses. We have all the pieces in place to ensure dependability for our valued customers and to sustain our growth for many years to come.”
Dennis Prado, Managing Partner at Main Street said, “We’re very excited to add I-deal Optics to the Main Street portfolio. The company meets nearly all the criteria we look for in private equity investments, including a strong and enthusiastic management team that is motivated by ownership. We’re really looking forward to working with the I-deal team and making sure they have the resources they need to continue their impressive track record of growth.”