Contact Information: Contacts: David Gutierrez Dresner Corporate Services 312.780.7204 dgutierrez@dresnerco.com Gregg Pollack Dresner Partners 312.780.7207 gpollack@dresnerco.com
Dresner Partners Advises SVS Vision in Sale of Company to Management Team
| Source: Dresner Partners
CHICAGO, IL -- (MARKET WIRE) -- March 19, 2007 -- Dresner Partners, a leading middle-market
investment bank, announced today that it acted as the financial advisor to
SVS Vision Holding Company ("SVS") in its sale to Farstan Investment
Corporation ("Farstan"). Farstan is a company formed by members of the SVS
management team. Terms of the transaction were not disclosed.
"We see the acquisition of SVS Vision as an opportunity to accelerate the
company's growth and expand its integrated vision care service offering to
a broader market," said Dr. Robert G. Farrell, Jr., president of both SVS
and Farstan. "We seek to develop new customer relationships with smaller
employers and groups in our communities, as well as deepening relationships
with key strategic partners in the healthcare and managed care fields."
Kelvin Pennington, managing partner of SVS's former controlling shareholder
PENMAN Private Equity and Mezzanine Fund, L.P., added, "We are extremely
pleased with the outcome of this transaction, and we look forward to
Farstan's success in continuing to build this outstanding company over the
coming years. The Dresner team did an outstanding job on this transaction,
and we appreciate the efforts of Gregg Pollack, Steve Dresner and the other
Dresner professionals who helped to bring this opportunity to fruition."
Steven M. Dresner, president of Dresner Partners, said, "This transaction
is the culmination of a process designed to achieve the long-term
objectives of SVS's shareholders, while meeting the needs of its other key
constituencies, including customers and employees. We appreciate the
opportunity to work with the owners and management of both SVS and Farstan,
and we look forward to the continued success of the company under its new
ownership."
From entrepreneurs and generational family businesses to professionally
managed corporations and institutional investors, Dresner Partners
recognizes the unique requirements of individual business owners and has
expertise in executing transactions to facilitate ownership transitions.
About SVS Vision Holding Company
SVS is an integrated provider of care benefit plans, optical examinations
and retail eyecare products and services. The company offers its customers
a range of vision care product plans. The company operates 52 offices
strategically located in the Midwestern and Eastern United States, and
manufactures eyeglasses at its centralized optical laboratory in Mt.
Clemens, Michigan. Additional information regarding SVS can be found at
www.svsvision.com.
About Farstan Investment Corporation
Farstan was formed by Dr. Robert G. Farrell, Jr. and Kenneth Stann to
purchase SVS from its former shareholders. Dr. Farrell and Mr. Stann have
extensive experience in the vision care field, including senior management
positions with AVC Nuvision and SVS. Farstan is based in Mt. Clemens,
Michigan.
About Dresner Partners
Dresner Partners is a NASD-registered, middle-market investment bank based
in Chicago, Illinois. Founded in 1991, Dresner Partners provides financial
advisory services to business owners and managers throughout the United
States, including institutional private placements of debt and equity,
merger & acquisition advisory, and valuation and strategic consulting. Its
affiliate company, Dresner Corporate Services, is a strategic
communications firm specializing in investor and public relations. More
information is available via the Internet at www.dresnerpartners.com.