Hakim Group partners with ICG to accelerate growth plan

Additional capital will enable the fast-growing business to welcome more independent optical practices onto its award-winning platform

Hakim Group (“the Company”), the UK’s largest family of independent opticians and audiologists, today announced plans to accelerate its expansion, bringing global alternative asset manager, ICG, on board as an additional investment partner.

The partnership will see ICG’s European Mid-Market team provide a bespoke financing solution to support the continued growth of the business. The Company’s existing partner, All Seas Capital, has demonstrated strong conviction in the momentum, leadership and business plan by realising its investment and also deciding to reinvest alongside ICG in this exciting next phase of development for the business.

Founded by Bolton-born entrepreneur and optometrist Dr Imran Hakim in 2005, Hakim Group has grown quickly over the past 20 years by acquiring and partnering with over 500 independent optometry practices across the UK and Ireland. The Company provides centralised support services to practices on its platform to support their growth, including training, IT, procurement, finance, technical and HR. This enables practice partners to continue focusing on the local teams and communities with cutting edge optometry and audiology services.

The additional capital will enable the Company to welcome more practices onto its platform and to serve more communities across the UK whilst investing in its team, technology, innovation and service standards for customers.

Dr Imran Hakim, CEO of Hakim Group, said:

This is an important milestone on our journey and a signal of confidence in our vision, plan, model, culture and team. Together, our investors are backing the existing leadership and management team to achieve our long-term vision for the business to be the UK’s leading provider of independent optometry and audiology services, renowned for its innovation and customer service. In partnering with ICG – and All Seas Capital – we are able to accelerate our plan and 2030 vision for the benefit of our people, partners, customers and communities, whilst helping more people to see better, hear better and live better.

Peter Kirtley, Managing Director of ICG’s European Mid-Market Fund, said:

We are delighted to announce our new partnership with Imran and Hakim Group, a business that displays the key investment fundamentals we look for: a strong founder and CEO, a seasoned management team, and a track record of impressive growth in a market which is critical to consumer health. We have strong conviction in the Company’s future growth potential and mission to meaningfully improve the quality of eyecare and hearing care services to patients, and we look forward to working alongside the team to deliver their strategic goals.

Marc Ciancimino and Cristobal Cuart, Co-Founders of All Seas Capital, said::

This first realisation is a major milestone for All Seas and a testament to our ability to back exceptional founders through transformative growth. Hakim Group is exactly the kind of thriving, ambitious business we seek to partner with. Reinvesting alongside ICG reflects our strong belief in its continued growth, and we’re excited to support Imran and his team in the next chapter.

The terms of the transaction are undisclosed, and the transaction is subject to competition clearance in Ireland.

– ENDS –

Notes to editor:

Advisors on the transaction were:

Hakim Group was advised by Rothschild (M&A), Cleary Gottlieb (legal), PwC (financial and tax) and OC&C (commercial). ICG was advised by Lincoln International (M&A, Debt Advisory), Goodwin Procter (legal), EY Parthenon (commercial), and Deloitte (financial, tax, ESG). All Seas Capital was advised by King & Spalding (legal) and Dechert (tax).

For further information please contact:

Hakim Group

Martin Currie
Citypress
+44 7976 291532
[email protected]

ICG

Clare Glynn
Head of Corporate Communications
+44 20 3545 1395
[email protected]

All Seas Capital

Charlotte Balbirnie
Kepler Communications
+44 7989 528421
[email protected]

About ICG

ICG (LSE: ICG) is a global alternative asset manager with $112bn* in AUM and more than three decades of experience generating attractive returns. We operate from over 20 locations globally and invest our clients’ capital across Structured Capital; Private Equity Secondaries; Private Debt; Credit; and Real Assets. Our exceptional people originate differentiated opportunities, invest responsibly, and deliver long-term value. We partner with management teams, founders, and business owners in a creative and solutions-focused approach, supporting them with our expertise and flexible capital. For more information visit our website and follow us on LinkedIn.

*As at 31 March 2025.

About All Seas Capital

All Seas Capital is a pan-European private capital firm. We partner with mid-market businesses, constructing flexible, structured capital solutions – investing a combination of debt and equity – to empower transformational growth. The team is led by Marc Ciancimino and Cristobal Cuart who co-founded and led KKR’s European mezzanine and preferred equity business.

We back growing businesses with strong management teams and help them accelerate their growth plans, supporting entrepreneur and family-owned businesses who have already reached profitability but need strategic capital to realise their ambitions. These businesses have underlying resilience, typically generating EBITDA of €5-50m, with our investment ranging from €30-100m.