Lion Capital to acquire Spence Diamonds .usa

Lion Capital LLP (“Lion Capital”), a consumer‐focused specialis
t investment firm,
today announced that it has ente
red into a definitive agreement
 to acquire
Spence Diamonds (“Spence"), the
leading direct seller of custom
‐made
engagement rings in Canada. Lion Capital is partnering with IVE
ST Consumer
Partners, a Vancouver‐based retail investor and operator, who w
ill bring
seasoned operating executives George Jones and Jim Schneider to
 lead the
business. IVEST will make a minor
ity investment in Spence, as w
ill current CEO
Sean Jones, who will also remain on the board. The terms of the
 transaction were
not disclosed.
Founded in 1978, Spence Diamonds carved out a distinctive posit
ion within the
retail jewellery industry by giving its customers a unique and
personalised
purchasing experience at an exceptional value.  By empowering c
ustomers with
education on diamonds from highl
y trained sales consultants and
 delivering
quality stones at a superior value through vertical integration
, Spence has
maintained a leadership position in the category for over 30 ye
ars. The company
operates seven showrooms across Canada, each of which showcase
over 2,500 of
the most sought after ring designs.  Spence has generated excep
tional financial
performance over the past decade
, supported by fundamentals tha
t are expected
to continue as Spence extends its geographic reach. 
Eric Lindberg, Partner of Lion Capital said:
“Sean and his team have done an outstanding job of successfully establishing the Spence franchise.
We look forward to supporting the continued growth of this distinctive retailer, which we believe delivers a unique proposition within the Canadian jewellery sector.
Lion’s deep expertise in successfully driving the rollout of strong branded retail concepts will be critical to supporting Spence’s continued growth through the next phase of its development in new markets.”
Sean Jones, CEO of Spence Diamonds said:  "I could not be more pleased about having Lion Capital lead Spence Diamonds in its next chapter of growth. By building our business, we will be able to create many more opportunities to support our customers and  team members in achieving their dreams. I thank every member of the Spence team for their ongoing commitment to excellence and the difference they makes in people'slives."