[ad_1]
Non-public Fairness Agency Lynx has introduced that it has acquired Henry’s: Canada’s Biggest Digicam Retailer for an undisclosed quantity. Henry’s was a family-owned and operated digicam retailer that first opened its doorways in 1909. Over the course of the subsequent century-plus, the corporate would open 20 areas throughout Canada and a business-to-business e-commerce enterprise, it advanced to a degree that allowed it to assert to being the main specialty digital imaging retailer within the nation. Henry’s says it carries over 15,000 imaging-related merchandise from the entire prime manufacturers and is a proud supporter of content material creators throughout Canada. Lynx is a non-public fairness agency with gross sales in extra of $750M CAD. Based mostly in Toronto, it’s centered on buying small and medium-sized companies from homeowners seeking to retire or who search strategic alternatives. This description possible factors to why Henry’s sought an acquisition, which isn’t overtly acknowledged within the public announcement of the acquisition, though the present CEO Gillian Stein is about to remain on as firm CEO. “Promoting Henry’s has all the time been a part of our Firm’s long-term technique,” Andrew Sten, Henry’s chairman, says. “It was merely a matter of discovering the best accomplice and I’m thrilled that we’ve discovered that in Lynx. Lynx believes in Henry’s imaginative and prescient and intends to protect my household’s legacy. I’ve achieved greater than I ever imagined with Henry’s and I sit up for seeing how this acquisition will drive the Firm to a fair larger degree of success.” The non-public fairness agency says that the acquisition of Henry’s is a primary for it.
“Amidst the COVID-19 pandemic, Henry’s expanded their buyer base to incorporate content material creators who buy photograph and video tools to create content material for social media. This rising client phase not solely drives income progress, it additionally fosters deep model loyalty,” Lynx says. “Though shoppers of video and photo-related merchandise should buy immediately from producers, Henry’s distinctive in-store expertise backed by deep experience and the most recent merchandise, lead to long-standing buyer loyalty and robust B2B relationships,” Lynx continues. “As one of many largest and most recognizable gamers inside Canada’s digital imaging business, Henry’s has a legacy effectively value defending. Backed by our intensive help and devoted workforce, Henry’s will proceed to offer modern services and products for photographers, filmmakers, and content material creators. We sit up for this partnership as we work collectively to proceed to drive the expansion of this nice Canadian model.”
[ad_2]