FYidoctors Announce Private Equity Partner Investment
Updated March 6, 2020
FYidoctors, today announced that L Catterton, a large global consumer-focused private equity firm, has made a strategic minority equity investment in FYidoctors.
FYidoctors management and optometrist shareholders will continue to hold a significant equity interest in the business. While the terms of the transaction were not disclosed by the company, the Globe and Mail reports the equity investment is in excess of $100,000,000.
Founded in 2005 and based in Calgary, Alberta, FYidoctors now has a national network of 500 optometrists, 250 locations and 2,700 employees.
The new partnership provides FYidoctors with both significant growth capital and expertise from L Catterton, a firm that has built some of the most renowned brands, globally, including a special relationship with the luxury brand house LVMH.
“It’s an absolute honour to partner with a firm of this calibre and is inspiring for everyone at FYidoctors,” said Dr. Alan Ulsifer, Chairman and CEO of FYidoctors.
According the announcement, L Catterton has significant experience investing in leading consumer healthcare businesses. Current and previous investments include dentalcorp, Ideal Image, ClearChoice, Owndays, OdontoCompany, FEMME, Espaçolaser and PetVet Care Centers.
Click HERE for the full press release.