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CG Petsky Prunier Advises Optical E-Commerce Company LD Vision Group (Dba Opticontacts.Com) on Its Sale to Hardy Capital

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CG Petsky Prunier Advises Optical E-Commerce Company LD Vision Group (Dba Opticontacts.Com) on Its Sale to Hardy Capital CG Petsky Prunier Advises Optical E-commerce Company LD Vision Group (dba OptiContacts.com) on its Sale to Hardy Capital CG Petsky Prunier is pleased to announce it has advised online retailer of contact lenses and eyeglasses LD Vision Group, which does business as OptiContacts.com, on its sale to Hardy Capital, an investment firm led by Roger Hardy. Powered by a proprietary end-to-end technology platform, LD Vision Group manages a family of brands that has delivered 2.7 million orders to more than 1.1 million customers. In 2018, the company generated approximately $50 million in revenues with double digit EBITDA margins. Founded in 2002, LD Vision Group was one of the first contact lens sellers online and is North America’s second largest independent online retailer of optical goods. LD Vision’s proprietary inventory management and prescription verification software, developed by its founder and chief executive officer Arshil Abdulla, allows the company to sell third-party contact lenses directly to individual consumers legally and efficiently. LD Vision is headquartered in Toronto and has offices in Vancouver and Buffalo, New York. Hardy Capital was founded by Roger Hardy, who previously founded the pioneering brand in omnichannel eyecare, Coastal.com. Coastal.com, owner of Clearly.ca and Lensway.se, grew steadily to over $1 billion in aggregate eyewear sales across 120 countries and was listed on the NASDAQ before being acquired by Essilor in 2014 for $450 million. Mr. Hardy is joined by Sabrina Liak, who was previously with Goldman Sachs Investment Partners, and Joseph Thompson, who was previously with Amazon and Procter & Gamble. “More than 70 per cent of North American adults have corrective vision needs, yet the eyecare industry continues to be plagued by high costs, low convenience, and inconsistent customer service,” said Mr. Hardy. “Arshil Abdulla, Fayaz Abdulla, and Sean Mitha are leaders in North America in technology, automation, and customer service in the category. We’re thrilled to be partnering with them to build a new platform for customers.” All three of LD’s existing founders will stay as co-owners in the new company. “There are few bankers who understand the optical and e-commerce industry as well as John Fang. We are extremely pleased by the results that he and his team delivered on the transaction and cannot recommend him more highly,” remarked Arshil Abdulla. CG Petsky Prunier, with a team led by John Fang, served as the exclusive financial advisor to LD Vision Group. Canaccord Genuity LLC is registered broker-dealer regulated by the SEC and FINRA. Member SIPC. Canaccord Genuity Corp. Member IIROC/Canadian Investor Protection Fund. Offices in other countries are offices of other companies in the Canaccord Genuity group of companies. We welcome the chance to work with you in the future. For more information please contact: John Fang Managing Director CG Petsky Prunier New York City 1.212.842.6019 [email protected] About Canaccord Genuity Petsky Prunier LLC CG Petsky Prunier is one of the leading investment banks to the technology, media, marketing, information, and e-commerce industries. In February 2019, Petsky Prunier joined the Canaccord Genuity Group to build a dominant, full-service middle market investment bank serving growth companies in our sectors of focus. Canaccord Genuity is a global, full-service investment banking and financial services company that specializes in wealth management and brokerage in capital markets. It is the largest independent investment dealer in Canada. The firm, which focuses on growth companies, has operations in 10 countries worldwide and the ability to list companies on 10 stock exchanges. Canaccord Genuity’s investment banking group provides mergers and acquisitions, corporate finance, restructuring, debt advisory, and strategic advice for corporate, government, and private equity clients globally. CANACCORD GENUITY PETSKY PRUNIER LLC | 60 BROAD STREET, 38TH FLOOR, NEW YORK, NY 10004 | 212-842-6020 Canaccord Genuity LLC is registered broker-dealer regulated by the SEC and FINRA. Member SIPC. Canaccord Genuity Corp. Member IIROC/Canadian Investor Protection Fund. Offices in other countries are offices of other companies in the Canaccord Genuity group of companies. .
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