OAKBROOK TERRACE, Ill.—I-Deal Optics, Inc., a Troy, Mich.-based portfolio company of Main Street Capital Holdings and a marketer and value-added distributor of prescription eyewear and sunwear frames, has been acquired by Nashville-based private equity firm Highland Rim Capital. Terms of the transaction were not disclosed. Prairie Capital Advisors, which announced the deal late last week, acted as the exclusive financial advisor in this transaction for I-Deal Optics and its shareholders. “In conjunction with a dedicated management team, we have continued to build the strong reputation of I-Deal in the marketplace as a compelling, one-stop-shop value proposition to private practices,” said Ryan Davis, partner at Main Street Capital Holdings.

“The Prairie team was instrumental in helping us achieve all of our transaction goals, including identifying a buyer that shares our values and is excited to capitalize upon I-Deal’s multiple growth opportunities,” Davis said.

“We thoroughly enjoyed our time working with the Prairie team through the sale process,” added Michael Feldman, CEO and co-owner of I-Deal. “Their expertise and guidance allowed us to navigate the task of completing the transaction while continuing to lead the I-Deal business.”  
 
Terry Bressler, managing director at Prairie Capital Advisors, indicated that I-Deal Optics serves as an important distribution business in the independent optical shop space, noting that the management team and Main Street Capital Holdings have continued to grow and build the business. 

“Through our M&A process, we located an excellent partner in Highland Rim that will work closely with the management team to further expand the business,” Bressler said. 

Dan DeLap, vice president at Prairie Capital Advisors, added, “This transaction represents another successful engagement completed by Prairie’s Investment Banking group and demonstrates our continued commitment to serving private equity and family-owned middle-market businesses.”

Highland Rim Capital declined to comment to VMAIL about the acquisition.