PFM Capital Inc has exited its stake in the Regina, Saskatchewan-based Factory Optical group of designer eyewear companies. No financial terms were disclosed. The exit is the result of a sale of the business to an unnamed buyer.
Regina, Saskatchewan – PFM Capital Inc. (PFM), on behalf of the Apex Investment Fund Limited Partnership (Apex) and SaskWorks Venture Fund Inc. (SaskWorks) is pleased to announce the exit of its position in the Factory Optical group of companies by means of a sale of the business to a privately-held strategic buyer.
Since its establishment in 1983, with one location in Regina, Saskatchewan, the Factory Optical group of companies has grown to 24 stores across Western Canada. PFM supported an experienced and focused management team with growth capital to open new stores and fund technological improvements to laboratory facilities as the industry evolved. PFM also provided working capital to support this continued growth.
“PFM has helped the Factory Optical group of companies grow to where it is today, and we look forward to the next chapter of our growth plan while reflecting on the successes we’ve achieved throughout our partnership.” said Stephen McIntosh, Founder, President and Chief Executive Officer of the Factory Optical group of companies.
PFM initially invested in the Factory Optical group of companies in June 2008 and completed multiple follow-on investments in support of their initiatives. The investment was supported by strong macroeconomic fundamentals as well as a large and fragmented addressable Canadian marketplace.
“We are excited to see two companies that align strategically, combine their expertise towards future growth and success.” said Johanna Salloum, Partner and Director of Investments at PFM Capital Inc. “This transaction creates significant value for both companies involved but also for Apex limited partners and SaskWorks shareholders.”
For more information on the Factory Optical group of companies, visit optiksinternational.ca/
About PFM Capital Inc.
PFM Capital is Saskatchewan’s largest private equity investment firm with over $796 million in assets under management across several funds. Based in Regina, PFM’s niche focus allows investors to benefit from the Prairies’ economic strengths by taking advantage of the firm’s established local network and long-term track record. Founded in 1989 as a corporate finance company, PFM is employee-owned and has been managing private equity and venture capital funds since 1993.