Origin, in collaboration with its Terra Alliance partner, Consensus Advisors (the “Advisors”) were engaged by Spence Diamonds Ltd. (“Spence” or the “Company”), a portfolio company of Lion Capital, as financial advisors on its majority equity investment from TriWest Capital Partners (“TriWest”). TriWest is partnering alongside the existing management team who will continue to lead the business.
The Company is thrilled to partner with TriWest and will continue to focus on changing the diamond buying experience and providing the highest-quality, one-of-a-kind diamond engagement rings to Canadians. Spence is excited to leverage TriWest’s expertise and shared values to continue growing Spence as a leader in the Canadian bridal jewelry market.
About Spence Diamonds Ltd.:
Established in 1978 and based in Vancouver, BC, Spence has been a leader in the Canadian bridal jewelry market for over 40 years, with strong brand recognition and a longstanding history in the Company’s core Canadian markets. Spence is differentiated from traditional jewelry retailers as a result of the Company’s business model which primarily focuses on bridal jewelry, leverages a vertically integrated supply chain, and utilizes an open-showcase / prototype-based showroom – resulting in a superior buying experience. The Company was a leader in bringing Artisan Created Diamonds (i.e. lab-grown) to the Canadian market, with over 2,800 unique engagement ring styles, offered with both mined and Artisan Created Diamonds, proudly made-to-order in Vancouver.
About TriWest Capital Partners:
Founded in 1998 and based in Calgary, Alberta, TriWest is one of Canada’s leading private equity firms, having raised over C$1.7 billion in committed capital through seven funds. TriWest has successfully invested in 51 companies across a broad cross-section of the economy in partnership with their management teams. TriWest works closely with its management partners, together proactively putting in place a strategy that maximizes growth potential and value creation by emphasizing operational excellence, prudent governance and an efficient capital structure. The principals of TriWest have significant operational and financial expertise, making them effective partners in creating shareholder value.
About Lion Capital:
Lion Capital is a consumer-focused investor passionate about investing in brands about which people are passionate. Lion’s principals have invested over €6 billion in over 100 consumer brands since the late 1990s. Lion’s team draws from its deep investing and operating expertise to identify consumer brands with strong growth potential and implement value creating strategies within these businesses.
Press release: TriWest Capital Partners Announces Partnership with Spence Diamonds
Deal team: Jim Osler, Andrei Rojine
