PFM Capital Inc. Exits its Position in the Factory Optical Group of Companies

October 10th, 2019

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/

 

For more information, please contact:
Sarah Laxdal, Communications Manager
PFM Capital Inc.
P: 306-791-4813 E: sarahlaxdal@pfm.ca

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 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.

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Through its affiliation with the fund managers PFM Fund Operations, PFM Venture Capital, Prairie Ventures GP, TopSoil Farm Land Management, and TopSoil Farm Land Management (II), and doing business as PFM Capital ("PFM Capital" or "PFM"), PFM is a leading private equity investment firm in Saskatchewan. Founded in 1989 as a corporate finance company, PFM has been managing private equity and venture capital funds since 1993. This website does not represent an offering of securities. The information disclosed is incomplete and can be qualified in its entirety by each fund's most recent offering document or limited partnership agreement, obtainable free of charge by contacting PFM Capital Inc. The securities described herein are only available to eligible investors in Canada in accordance with applicable securities laws. Legal

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