Private equity firm acquires Canadian camera chain Henry’s

North America’s largest camera retail chain Henry’s was acquired by Lynx Equity Ltd., a Toronto-based private equity firm specializing in acquiring small- and medium-sized businesses from owners looking to retire. All of Henry’s employees will remain in place, including its leadership team. Founded in 1909, Henry’s has 20 stores across Canada.

In a press release, Lynx said it “is committed to furthering Henry’s position as the leading specialty digital-imaging retailer in Canada, and Henry’s customers will continue to receive the exceptional service and support they have come to expect from the 114-year-old family business.” Founded in 2007 by Brad Nathan, Joanna Lipfeld, and Judith Benattar, the company uses “a buy-and-hold strategy that focuses on maintaining a company’s legacy, building upon its established value and brand, bolstering employees, and maintaining relationships and infrastructure.” Lynx will support Henry’s continued investment in providing a seamless experience to its in-store and online customers, driven by its updated website and enhanced ecommerce capability.

Family Legacy

“I’m thrilled that we’ve found Lynx: someone who believes in our vision and our team, and who wants to preserve my family’s legacy and see the Henry’s name live on,” said Andrew Stein, 73, chair, Henry’s. “I have achieved more than I ever imagined with this company, and this acquisition will help drive Henry’s to an even higher level of success.”

“We are thrilled to have Henry’s join the Lynx family,” says 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 Canada’s greatest camera store and one of the largest companies in its category, it 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 continue to drive the growth of this great Canadian brand.”

This acquisition will diversify and expand Lynx’s portfolio to include the consumer electronics industry. With 20 locations across Canada, a national online presence, and a thriving B2B business, Henry’s is one of the most established and longest-running companies in Lynx’s portfolio.

All of Henry’s employees will remain in place, including its leadership team.

Gillian Stein, CEO of Henry’s, will continue to lead the company as part of the Lynx organization.

“I’m excited that this acquisition will help drive our growth strategy and better position us to serve Canadian photographers, filmmakers, and content creators,” she says. “Our team will remain focused on providing the exceptional Henry’s experience to customers both online and in-store, with Lynx’s support and expertise to continue strengthening and growing our business.”

Henry’s will continue to be headquartered in the Greater Toronto Area, Ontario.

While the Henry’s Foundation is not part of this acquisition, Henry’s will continue to support mental health awareness, de-stigmatization, and support for all Canadians. Lynx also has a strong track record of support for charitable organizations such as Sick Kids, the Canadian Cancer Society, the Simon Wiesenthal Center for Holocaust Studies, and more. The two companies shared focus on giving back is an important element of the strong fit between Lynx and Henry’s.

Listen below to our January, 2022, interview with Gillian Stein where she shares her personal mental health challenges, as well as the establishment of The Henry’s Foundation to provide support for Canadians living with mental illness.