Resilience Capital Partners has agreed to acquire the assets of the Liquids division of oneCARE (Liquids). The operations of Liquids will be integrated with Resilience’s existing portfolio company CR Brands.
This is Resilience Capital Partners’ first add-on acquisition by its CR Brands platform which it acquired in September 2012. The acquisition of Liquids doubles the number of brands the CR Brands now offers. Acquired brands include the leading brand in home dry cleaning, Dryel, as well as a variety of drain pipe opening solutions including Roto-Rooter and Drain Pro.
“The combination of CR Brands and the oneCARE assets result in a single company that has tremendous breadth in laundry and specialty cleaning coupled with greater manufacturing scale, deeper product development expertise, and expanded trade-reach,” said Bassem Mansour, Co-CEO of Resilience Capital Partners.
CR Brands manufactures and markets both branded and private label household cleaning and laundry products. The company’s branded products are marketed under the brands Mean Green, Biz, Oxydol, Pine Power and Magnum Power. CR Brands has national distribution with retailers such as Dollar General, Family Dollar, Walmart, Target and Kroger. The company has also partnered with certain customers (Kroger, Publix) to manufacture proprietary store brand household cleaning products. The company is based in West Chester, OH (www.crbrandsinc.com).
“In our industry, a strong pipeline of innovative products is the key to success. This acquisition really raises our game in that area – as it doubles the number of branded items we bring to the trade, and more than doubles the product development resources needed to drive innovation on those brands,” said CR Brands’ Chief Executive Officer, Rich Owen.
Resilience Capital Partners specializes in investing in middle market companies with $25 million to $250 million in revenues across a range of industries. The firm’s investment strategy is to acquire companies in a variety of special situations including underperformers, corporate divestitures, turnarounds, and orphan public companies. Since its inception in 2001, Resilience has acquired 33 companies under 20 platforms with over $2 billion in revenues. The firm is based in Cleveland (www.resiliencecapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 12-6-13
