Atlantic Street Capital Portfolio Company Lombart Instrument Acquires Enhanced Medical Services
STAMFORD, Conn., Aug. 2, 2018
STAMFORD, Conn., Aug. 2, 2018 /PRNewswire/ -- Atlantic Street Capital, a private equity firm targeting entrepreneurial businesses poised for the next level of growth, announced today that its portfolio company Lombart Instrument (Lombart), the leading U.S. distributor of ophthalmic instruments to ophthalmologists and optometrists, has acquired Enhanced Medical Services (EMS), the leading distributor of pre-owned ophthalmic instruments in the U.S.
Founded in 2007 by CEO Tony Genovese, EMS provides pre-owned eye care equipment and offers an array of diagnostic, laser, and classical solutions to the eye care industry. EMS also carries a wide selection of new equipment from the top manufacturers in the industry and offers comprehensive customer service. EMS is headquartered in St. Louis. For more information, visit www.emseye.com.
Scott Lombart, Chief Commercial Officer of Lombart, said, "The addition of EMS increases our product offering and our customer base but, most valuably, it gives our organization the opportunity to work more aggressively within a doctor's budget. EMS's relationships, expertise, and inventory provide us additional solutions for practices with different instrumentation needs."
Mr. Genovese joins Lombart in a dual role – as EVP of Lombart's National Accounts and as the EVP of the pre-owned business – and his team of professionals will supplement Lombart's existing team.
Mr. Genovese, commented, "As founder of the company, I was determined to find a partner that would strengthen our operations and have an immediate impact on our ability to better service clients and patients. Lombart is an exclusive eye care instrument provider and is that ideal fit for us as we look to deliver even better service to our customers. I look forward to working with this premier organization to deliver quality and affordable eyecare products."
Andy Wilkins, Managing Partner of Atlantic Street Capital, said, "Since our acquisition of Lombart in 2016 we have steadily built the business through organic growth, as well as expanded into Canada with the earlier acquisition of INNOVA. The addition of EMS is another significant investment to strengthen Lombart's position as a key partner for its customers, further extending our ability to deliver a breadth of clinical solutions."
Lombart is the largest independent, value‐added distributor of ophthalmic instruments to ophthalmologist and optometrist practices in the United States. Products offered include chairs, stands, slit lamps, refractors, tonometers, keratometers, eye projectors, perimeters, and replacement bulbs and batteries. Lombart sells these products to ophthalmology and optometry practices and clinics, teaching institutions and hospitals, and government hospitals. Lombart is headquartered in Norfolk, VA. For more information, visit www.lombartinstrument.com.
About Atlantic Street Capital
Atlantic Street Capital is a private equity firm that invests in middle market companies with between $4 million and $15 million in EBITDA. The firm invests in fundamentally sound companies that will benefit from capital investment and value-adding strategic and operational initiatives. Atlantic Street Capital's investment team are hands-on investors who work closely with management to unlock their business' underlying value and help them succeed. The firm is currently making investments in Atlantic Street Capital III, LP. For more information, visit www.atlanticstreetcapital.com.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
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SOURCE Atlantic Street Capital