Hakim Group partners with ICG to help drive growth

Hakim Group, the UK’s largest group of independent opticians and audiologists, has announced plans to accelerate its expansion by working with the private equity firm ICG as an additional investment partner. 

ICG’s European Mid-Market team will support the continued growth of the business. The company already works with All Seas Capital.

Dr Imran Hakim, chief executive of Hakim Group, described the agreement as “an important milestone”, adding: “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.  

Peter Kirtley, managing director of ICG’s European Mid-Market Fund, said he was delighted to announce the partnership. “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.” 

The Hakim Group has acquired 500 independent optometry practices across the UK and Ireland in the past 20 years. The company provides centralised support services on its platform, including training, IT, procurement, finance, technical and HR, enabling practices to focus on their local teams’ provision of optometry and audiology services.   

About Imran

Imran opened his first optical practice in his local community of Bolton, recruiting a University colleague as his first employee. He decided to set up a locum recruitment company employing the services of many of the students he had met at University.

Imran has gone on to build a portfolio of businesses, including the fastest-growing group of independent optical retail practices in the UK, as well as expanding into the United States.

Imran’s Journey