Centre Partners announced today that it has acquired Taylor Precision Products,, a marketer of consumer and foodservice measurement products, from Homedics. “We are pleased to invest in Taylor and to establish the business as an independent company. We look forward to supporting Taylor by providing important resources, including capital, further strengthening its management team and implementing new product and marketing initiatives,” said Bruce Pollack, a Managing Partner of Centre Partners.
Founded in 1851 as a family-owned household thermometer business, Taylor Precision Products is a marketer of precision measurement products, including kitchen scales and thermometers, bath scales and other weather & outdoor household products. Customers include high-end specialty stores, mass merchandisers, hardware stores, club stores and grocery retailers. Brands include Taylor® and Springfield®, premium brands under long-term licenses such as HoMedics® and Salter®, selected lifestyle brands under license such as The Biggest Loser® and Bowflex®, as well as private label products for select customers. The company is based in Oak Brook, IL (www.taylorusa.com).
Centre operating partner Rob Kay has been named Executive Chairman of Taylor, joining the current team led by Don Robinson. Mr. Kay is the former Executive Chairman of Kaz, a manufacturer of home environment appliances, including vaporizers, humidifiers, thermometers, and heating pads that was previously a Centre Partners portfolio company. “I am proud to have another opportunity to lead a Centre Partners company. The acquisition of Taylor is a unique opportunity to buy and build a leading company in the branded consumer products sector, where we have considerable prior experience and success. Taylor has a number of well-established brands in its portfolio and is well-positioned as a platform for growth through organic initiatives and acquisitions,” said Mr. Kay.
Centre Partners invests in middle market companies in the following sectors: healthcare; industrial products and services; financial services; energy; media; restaurants; retail; and aviation services. The firm is currently investing through its fifth fund with $650 million of committed capital. Centre Partners was founded in 1986 and has offices in New York, NY and Los Angeles, CA (www.centrepartners.com).