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M&A Deal Summary

Fenway Partners Acquires 1-800 Contacts

On June 4, 2007, private equity firm Fenway Partners acquired e-commerce company 1-800 Contacts for 340M USD

Acquisition Highlights
  • This is Fenway Partners’ 1st transaction in the E-Commerce sector.
  • This is Fenway Partners’ 3rd largest (disclosed) transaction.
  • This is Fenway Partners’ 14th transaction in the United States.
  • This is Fenway Partners’ 1st transaction in Utah.
Investment Fate
  • 1-800 Contacts was sold to a publicly-traded strategic buyer in 2012 for 900M USD.
  • 1-800 Contacts was sold to a strategic buyer in 2012 for 900M USD.
  • 1-800 Contacts was divested to a consortium of buyers in 2014.
  • 1-800 Contacts was sold to a consortium of financial buyers in 2015.
  • 1-800 Contacts was sold to a consortium of financial buyers in 2020.

M&A Deal Summary
Date 2007-06-04
Target 1-800 Contacts
Sector E-Commerce
Buyer(s) Fenway Partners
Deal Type Going Private
Deal Value 340M USD
Advisor(s) Sonenshine Partners (Financial)

Target

1-800 Contacts

Draper, Utah, United States
1-800 Contacts is a direct-to-consumer independent retailer of contact lenses. The Company also provides contact lens sourcing and fulfillment services to leading brick-and-mortar retailers. 1-800 Contacts was formed in 1995 and is based in Draper, Utah.

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Buyer(S) 1

Buyer

Fenway Partners

Westerly, Rhode Island, United States

Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 2.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Fenway Partners is a private equity firm focused on investments in the consumer products and transportation/logistics/distribution sectors. Fenway looks for profitable companies with positive cash-flow and 'strong franchises. Prospective companies are generally valued between $100 and $600 million with $15 to $75 million of EBITDA. The Firm's investment horizon is four to six years. Fenway Partners was formed in 1994 and maintains offices in New York City and Los Angeles.

DEAL STATS #
Overall 15 of 20
Sector (E-Commerce) 1 of 1
Type (Going Private) 1 of 1
State (Utah) 1 of 1
Country (United States) 14 of 18
Year (2007) 1 of 3
Size (of disclosed) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-07 Greatwide Logistics Services

Dallas, Texas, United States

Greatwide Logistics Services is a privately held third-party logistics provider serving the United States and Canada. Greatwide offers an integrated service platform to customers including managed transportation services, dedicated, full-service brokerage, warehouse-based logistics and irregular route truckload. Greatwide is the largest provider of dedicated refrigerated transportation in the United States. The company ranks 11th among Transport Topics’ Top 50 Logistics Providers, is a Food Logistics Top 70 3PL Provider and an Inbound Logistics Top 100 Motor Carrier.

Sell $730M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-19 Fastfrate Group

Woodbridge, Ontario, Canada

Fastfrate Group is a provider of diversified transportations services in with a national terminal infrastructure. The company has grown into a diversified transportation company with a menu of services including LTL and truckload from any point to any point within Canada and the Northeast and Midwest United States, national drayage and cartage, warehousing, transloading on both the east coast and the west coast, special operational direct ship programs for retailers, and third-party logistics. Fastfrate Group was founded in 1966 and is based in Woodbridge, Ontario.

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