Ultralase is a leading participant in the UK ophthalmic treatment (laser vision correction) market. The company has its head office in Leeds and operates eye laser clinics across the UK. The business was acquired in 2005 by Corporacion Dermoestetica, a listed Spanish medical aesthetic business, but remained a largely autonomous operation. Following an approach from 3i Group plc discussions regarding an MBO were initiated.

Park Place had an existing relationship with the management team and were appointed as their lead advisor at the earliest opportunity. This enabled a strong partnership to be established with 3i, at the same time as securing attractive equity participation terms for the management team.

Following a downturn in trading, Park Place advised the board on a £65m bank led restructuring. Thereafter, Park Place were retained advisors until the business was sold to Optimax.

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