1-800 CONTACTS: Transitioning from Public Company to Private Equity to Strategic Exit

In 2006, 1-800 CONTACT struck a deal with the private equity firm Fenway Partners to go from public to private—how did this deal benefit both parties?
Marshall Sonenshine  | Fall 2013
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In 2006, 1-800 CONTACTS Founder / CEO Jonathan Coon and the company’s board decided to return to private as opposed to public status. In 2007, the private equity firm Fenway Partners bid 20% above the second highest bid—then successfully exited in 2012 in a sale to WellPoint, the largest of the Blue Cross / Blue Shield insurance companies. What led to these major corporate transactions and how did the company and its strategic partners achieve their stated goals?

Case ID: 140304

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