i-deal Optics designs, imports and sells value eyewear to optometrists, multiple-location retail optical chains and optical labs. The company markets approximately 600 styles under seven proprietary, trademarked brands and one licensed brand to approximately 5,000 customers in the United States, Canada and Mexico.
Since its founding in 1996, i-deal has built a reputation as a trusted brand known for delivering high value via its innovative, long-lasting designs, excellent customer service and affordable prices.
i-deal Optics is located in Troy, Michigan.
i-deal Optics is in many ways the stereotypical American family business. Started by Dad, employing several family members (son, daughter in law, nephew) and, after many years of hard work, successful.
But when it came time for Mort Feldman to sell, the next generation of family members did not have the financial resources or expertise to buy him out. The next generation of the family wanted to be meaningful owners, wanted to run the business and had many good ideas on how to grow the business. Mort wanted to secure his financial nest egg and transition to retirement. Enter Hadley Capital.
We partnered with the second generation and other key employees to purchase the company from Mort. Because Michael (Mort’s son) had been at the company for many years, Mort was able to quickly retire. Michael became president and never looked back.
Over the next seven years we invested in a new facility, new products, new systems, an acquisition and key personnel additions. The second generation owners of i-deal are now successfully partnering with another owner and continuing its growth path.
As a family business, we really appreciated their integrity and how relatable they were. These are not Wall Street guys making decisions based solely on financial reports.