Houlihan Lokey Advises Revelstoke Capital Partners

Houlihan Lokey is pleased to announce that it advised Revelstoke Capital Partners (Revelstoke) on its strategic partnership with Cincinnati Eye Institute (CEI), one of the largest and most highly regarded ophthalmology practices in the country. Revelstoke and CEI have formed CEI Vision Partners, a management services organization, to support CEI's growth and pursue additional partnerships with other leading ophthalmology providers. The transaction closed on May 25, 2018.

Revelstoke is a private equity firm formed by experienced investors who focus on building industry-leading companies in the healthcare and related business services sectors. Revelstoke partners with entrepreneurs and management teams to execute on a disciplined organic and acquisition growth strategy to build exceptional companies. Since the firm's inception in mid-2013, Revelstoke has raised approximately $1.1 billion of equity and has completed 44 acquisitions, which includes 11 platform companies and 33 add-on acquisitions.

For more than 70 years, CEI has compassionately provided the highest level of medical and surgical eye care that has enhanced the quality of their patients' lives. Founded in 1945 by Morris Osher, M.D., CEI has grown to become the largest ophthalmology organization in the region with more than 60 practicing ophthalmologists and optometrists. CEI is the only practice in the region that offers "front-to-back" eye care and has leading physicians across all major sub-specialties. CEI completes over 200,000 annual patient encounters and over 25,000 annual surgical procedures across 14 clinical centers and three ambulatory surgical centers. CEI will continue to strive to be nationally recognized as the first and best choice for medical and surgical eye care.

This transaction further strengthens Houlihan Lokey's leadership position in the physician practice management and multi-site healthcare sectors where Houlihan Lokey has advised on approximately $8 billion in transaction enterprise value over the past three years. Specifically, this transaction further strengthens Houlihan Lokey's leadership position in the U.S. vision care sector where it represents our seventh transaction in the sector since 2015.

Houlihan Lokey's Healthcare Group is a recognized leader in M&A advisory and capital-raising services, providing advice to healthcare services, managed care, senior housing, biopharmaceutical, and life sciences companies. With more than 30 investment bankers in Chicago, Dallas, and New York, Houlihan Lokey's Healthcare Group is among the largest dedicated healthcare investment banking groups in the country. In 2017, the group closed 21 transactions and was ranked the No. 1 M&A advisor for U.S. healthcare transactions under $1 billion by Thomson Reuters. Houlihan Lokey's Healthcare Group has closed more than 300 M&A healthcare transactions since inception.