Lynx is pleased to announce the acquisition of Henry’s: Canada’s Greatest Camera Store
June 6, 2023
June 6, 2023 – Toronto, ON – Lynx is pleased to announce the acquisition of Henry’s: Canada’s Greatest Camera Store (“Henry’s” or “the Company”), a proudly Canadian and family-owned retailer operating in the consumer electronics industry since 1909. With 20 locations across Canada, a national online presence, and a thriving B2B business, Henry’s possesses inherent advantages over exclusively online competitors. The Company’s customers are able to choose from over 15,000 imaging related products from all the top brands in the industry.
The acquisition of Henry’s is the first of its kind for Lynx, and with the pervasiveness of social media, this deal could not have come at a better time. Amidst the COVID-19 pandemic, Henry’s expanded their customer base to include content creators who purchase photo and video equipment to create content for social media. This emerging consumer segment not only drives revenue growth, it also fosters deep brand loyalty. Although consumers of video and photo-related products can buy directly from manufacturers, Henry’s exceptional in-store experience backed by deep expertise and the latest products, result in long-standing customer loyalty and strong B2B relationships.
“We are thrilled to have Henry’s join the Lynx family,” commented Brad Nathan, Founder and President of Lynx. “Henry’s has a long history as a strong Canadian, family-owned business and we’re looking forward to being part of its legacy. As one of the largest and most recognizable players within Canada’s digital imaging industry, Henry’s has a legacy well worth protecting. Backed by our extensive support and dedicated team, Henry’s will continue to provide leading-edge products and services for photographers, filmmakers, and content creators. We look forward to this partnership as we work together to continue to drive the growth of this great Canadian brand.”
Henry’s Chair, Andrew Stein, is proud to have elevated the brand to what it is today while building on his father’s and grandfather’s legacies. He is also very excited to see his daughter, Gillian Stein, stay on as CEO to further drive Henry’s evolution.
“Selling Henry’s has always been part of our Company’s long-term strategy,” commented Andrew. “It was simply a matter of finding the right partner and I’m thrilled that we’ve found that in Lynx. Lynx believes in Henry’s vision and intends to preserve my family’s legacy. I have achieved more than I ever imagined with Henry’s and I look forward to seeing how this acquisition will drive the Company to an even higher level of success.”
The transaction was facilitated with buy-side legal support from Minden Gross LLP.
Lynx continues to pursue acquisition opportunities throughout North America, Europe, and the United Kingdom.
About Henry’s: Canada’s Greatest Camera Store
Proudly Canadian, family-owned, and operated for four generations, Henry’s first opened its doors in 1909 and has evolved into the leading specialty digital imaging retailer in Canada. With 20 locations across Canada and a strong B2B and ecommerce business, Henry’s is the source for the latest products, expert advice, and award-winning customer service for photographers, filmmakers, and content creators. Henry’s carries over 15,000 imaging-related products from all of the top brands and is a proud supporter of content creators across Canada. For more information visit www.henrys.com.
About Lynx Equity Limited
With sales in excess of CAD $750M, Lynx Equity Limited is a diversified Toronto-based private equity firm focused on acquiring small and medium-sized businesses from owners looking to retire or seeking strategic opportunities. Lynx targets acquisitions of companies with EBITDA between CAD $1M - $5M and utilizes a buy-and-hold strategy.
To learn more about Lynx, please visit www.lynxequity.com
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