KIK Custom Products, a maker of household and personal care products and a portfolio company of CI Capital Partners, has agreed to be acquired by Centerbridge Partners.
KIK Custom Products is a contract and private label manufacturer of consumer products in the laundry, household cleaners, personal care, spa and pool, and over-the-counter medicated and pharmaceutical categories. KIK entered the pool care business in 2011 with the acquisition of US-based Chem-Lab Products. The company is based north of Toronto in Concord, Ontario (www.kikcorp.com).
“Having followed KIK’s business for nearly seven years, we have great confidence we are supporting a leader in multiple categories with a strong North American footprint,” said Steve Silver, Senior Managing Director of Centerbridge. “KIK is well positioned for continued expansion through both organic growth and strategic acquisitions. We look forward to supporting KIK and its management team through its next phase of growth and development.”
Centerbridge Partners invests from $50 million to $300 million in US based leveraged buyouts and distressed securities. The firm has $25 billion of capital under management and is headquartered in New York with an additional office in London (www.centerbridge.com).
CI Capital Partners first invested in KIK in 2007. “Under our ownership, Jeff Nodland, CEO, and Ben Kaak, CFO, along with the entire KIK management team, worked tirelessly to transform KIK through organic growth, strategic acquisitions and operational initiatives, creating a clear leader in the marketing and production of consumer packaged goods and pool and spa treatment products,” said Timothy Hall, Managing Director at CI Capital Partners.
CI Capital Partners invests from $25 million to $100 million in middle market companies in the following sectors: business services, consumer services, distribution, government services and defense, and light manufacturing. The firm was founded in 1993 and is based in New York (www.cicapllc.com).
“Our partnership with the KIK management team resulted in a very successful investment for us, and we wish the KIK team and Centerbridge continued success,” said Fred Iseman, Chairman and CEO of CI Capital Partners.
KIK Custom Products was advised by Morgan Stanley & Co. and Rothschild. Centerbridge was advised by its financial advisor Barclays, who alongside BMO Capital Markets is providing debt financing for the transaction.
© 2015 PEPD • Private Equity’s Leading News Magazine • 7-1-15
