JP Morgan Asset Management to invest in Acuity Eyecare

J.P. Morgan Asset Management invested in Acuity Eyecare Group, a Riata Capital Group portfolio company. Financial terms weren’t announced. The investment comes as Acuity has acquired two new regional eyecare groups. They include ABBA Eye Care, of Colorado Springs, Colorado, which operates 13 optometry locations, and EyeCare Specialties, of Lincoln, Nebraska, which operates 5 optometry locations. The investment from J.P. Morgan positions Riata to achieve its stated plan of building Acuity to 200-300 locations over a three-to-five-year period through the acquisition of additional regional eyecare groups and independent optometry practices. Jeff Fronterhouse, Managing Partner of Riata Capital Group, said: "We are excited to have J.P. Morgan Asset Management join us as an equity partner as we continue to build Acuity Eyecare Group into a market-leading eyecare platform. And the addition of ABBA Eye Care and EyeCare Specialties, two medically-oriented optometry groups, is a terrific way to finish out a strong 2018 for Acuity Eyecare Group. We look forward to continued growth and expansion in 2019."