Investment from ICG and All Seas Capital will help the largest group of independent opticians in the UK and Ireland expand its footprint.
Global alternative asset manager ICG alongside existing partner pan-European private capital firm All Seas Capital have taken a stake in Hakim Group, the largest group of independent opticians in the UK and Ireland, to accelerate its expansion.
Financial terms have not been disclosed.
Founded by Bolton-born entrepreneur and optometrist Imran Hakim in 2005, Hakim Group has grown over the past 20 years by acquiring and partnering with more than 500 independent optometry practices across the UK and Ireland.
The company provides centralised support services to practices on its platform to support their growth. This includes training, IT, procurement, finance, technical and HR which means that practice partners can focus on the local teams and communities.
The additional capital will enable Hakim Group not only to expand but will also allow for investment in its team, technology, innovation and service standards.
“We have strong conviction in the company’s future growth potential and mission to meaningfully improve the quality of eyecare and hearing care services to patients, and we look forward to working alongside the team to deliver their strategic goals,” said Peter Kirtley, managing director of ICG’s European Mid-Market Fund.
The transaction is subject to competition clearance in Ireland.
