WNEM-TV5 Advent Leads US$93 Million Investment in lululemon athletica

Advent International announced it has acquired a significant minority interest in Vancouver-based lululemon athletica, the premier athletics and yoga apparel specialty retailer. The transaction will support the company's growth strategy in the US and internationally and provide partial liquidity to the founder, Chip Wilson, who will retain a majority position in lululemon. The enterprise value of the transaction is approximately US$195 million. Advent partnered with Highland Capital Partners in this growth equity financing.