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CALGARY, Alberta and GREENWICH, Conn.—FYidoctors, the Canadian-based large optometrist-controlled eyecare company, announced this morning that L Catterton, the 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, the statement said. Terms of the transaction were not disclosed. Founded in 2005 and based in Calgary, Alberta, FYidoctors was started as a small group of independent eye doctors, focused on putting patients first.

Today, the company has grown into Canada’s largest eyecare provider and has remained doctor-owned, doctor-led and patient-centric. With more than 500 optometrists, 250 locations and 2,700 employees, the company provides complete eyecare solutions that are customized to patients’ needs and lifestyles.

L Catterton, formed through the partnership of Catterton, LVMH, and Groupe Arnault, has made over 200 investments in leading consumer brands.since 1989. With approximately $20 billion of equity capital across seven fund strategies in 17 offices globally, L Catterton is the largest consumer-focused private equity firm in the world. Its team of more than 190 investment and operating professionals partners includes management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad thought partnership network.

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. It also provides a platform for current and ongoing liquidity options for optometrists while continuing to support the ownership of equity by both current and new optometrist partners, a key component of FYidoctors’ DNA, the company said.

“FYidoctors has created significant success through our patient-first approach to eyecare. This partnership is the beginning of us taking the business to even greater heights. 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. “I am incredibly proud of the optometrists who have joined the organization from our humble beginnings to now. We are pleased to have created value for those who are with us today and those who will join us in the future.”

L Catterton has significant experience investing in leading consumer health care businesses. Current and previous investments include dentalcorp, Ideal Image, ClearChoice, Owndays, OdontoCompany, FEMME, Espaçolaser and PetVet Care Centers.

“FYidoctors is a best-in-class brand with a proven and attractive platform for continued growth,” said Andrew Taub, managing partner in L Catterton’s Flagship Buyout Fund. “We look forward to leveraging our expertise in consumer health care to help this differentiated business continue to thrive.” Rajan Shah, vice president at L Catterton, added, “FYidoctors represents an opportunity to invest in a market leader. We are excited to partner with Dr. Ulsifer and the exceptional FYidoctors team to build an iconic North American brand.”

EY Orenda Corporate Finance Inc. served as exclusive financial advisor to FYidoctors. Jefferies LLC and Barclays served as financial advisors to L Catterton.