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Lion Capital and IVEST Consumer Partners
Acquisition of Spence Diamonds Ltd.

We acted for Lion Capital and IVEST Consumer Partners in connection with its acquisition of the business and assets of Spence Diamonds Ltd. in an all equity transaction. As part of the transaction, the Spence shareholders reinvested part of the proceeds to retain a minority interest in the reconstituted company.

Canada’s premier diamond retailer, Spence Diamonds was founded in 1978 and operates out of seven locations across Canada in Vancouver, Calgary, Edmonton and Toronto. Lion Capital is a global private equity investor with offices in London and Los Angeles, focused on consumer products and brands. IVEST is a North American private equity investor specializing in consumer and retail businesses, which sourced the transaction and made a minority co-investment.