BLACKWOOD, N.J.--(BUSINESS WIRE)--Today, Refac Holdings, Inc. announced the completion of its acquisition by Lincoln Road Advisors, Inc., a private equity group based in Miami, Florida.
“Refac Holdings is the parent company of US Vision, a leading optical retailer with over 50 years of experience in the optical industry,” said Eric J. Bertrand, CEO, Lincoln Road Advisors. “I had the privilege to acquire the company as general partner of a private equity fund in the mid-2000s and I am humbled to have the opportunity to be involved with the company again. I look forward to working with the company’s great host partners, resilient management team and experienced retail staff to grow the company for the future.”
“The management team of Refac Holdings is excited about the opportunity to partner with a new ownership group,” said Jennifer Andrews, CFO, of Refac Holdings. “We are eager to move forward with our business and the growth potential that lies ahead.”
Blank Rome LLP and King & Spalding LLP provided legal counsel to Refac Holdings. Reid & Riege PC provided legal counsel to Lincoln Road. Financial terms of the transaction were not disclosed.
About Lincoln Road Advisors
Lincoln Road Advisors is an investment management firm managed by Eric J. Bertrand. Eric has extensive experience in the eyecare sector including serving on the executive committee of the board of directors of US Vision and OptiCare Health Systems, CEO of the Vision Center at Meijer, CEO of Barry Optical and a board member of Unite for Sight, an eyecare charitable organization.
About Refac Holdings
Refac Holdings, the parent company of U.S. Vision, Inc., is one of the leading eyecare retailers in the United States. With 373 optical retail locations in 44 States, in such host brands as JC Penney, Meijer, Boscov’s and AAFES military locations, U.S. Vision provides eyecare services and products to over 300,000 customers per year. U.S. Vision stores offer eye exams through partnerships with independent optometrists and an extensive selection of designer brand and private label prescription eyewear, contact lenses, sunglasses and accessories.