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New Mountain Eyes Contact Lens Distributor: UPDATED

Target: ABB/Con-Cise Optical Group LLC

Sponsor: New Mountain Capital

Seller: Angel I. Alvarez

Founded in 1989, the Coral Springs, Fla.-based company distributes contact lenses to independent eye care professionals. As of 2009, it employed 400 workers in Florida, California and Massachusetts, according to a press release from that year.

New Mountain, the New York-based firm founded by former Forstmann Little & Co. general partner Steven Klinsky, would make the investment out of its third fund, a $5.12 billion vehicle the firm closed in 2008, according to the filing. The firm typically invests $100 million to $500 million in its deals.

New Mountain is expected to launch its next fundraise later this year or early next year, as sister Web site peHUB recently reported, though it is unclear how much it will seek.

Company founder and CEO Angel Alvarez is listed as the seller in the filing. The Federal Trade Commission granted the parties early termination of antitrust review on Oct. 2.

Though Alvarez is named as the seller, Riordan Lewis & Haden Equity Partners, a mid-market Los-Angeles-based buyout firm, considers it a portfolio company. (UPDATE: Two sources confirmed it would be a control-stake deal and a full exit for the firm). If the firm exits successfully, it could help it get closer to is fundraising goal. The firm is seeking $250 million for its third fund, as Buyouts previously reported last year, and is still seeking commitments, according to a source.

Alvarez as well as executives from New Mountain and RHL Equity were not immediately available.