Weinberg Adds Medex to Convenience Valet
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Weinberg Adds Medex to Convenience Valet

1780b03Mechanical Servants (DBA Convenience Valet), a portfolio company of Weinberg Capital Group, has acquired Medex Merchandising. This is the first add-on acquisition for Convenience Valet since being acquired by Weinberg Capital in March 2015.

medexco nf23Medex Merchandising is a value-added distributor of repackaged branded health and beauty care products, including brand name over-the-counter medications (examples include Aleve, Tylenol, Advil, Motrin and Alka-Seltzer in single use packs), generic medications, condoms, and other sundries (travel sized mouthwash, toothpaste and deodorants). The company’s products are sold through the food, drug, mass merchandise and convenience channels. Medex was founded in July 1997 and is headquartered in the Chicago suburb of Melrose Park (www.medexco.com).

convenient valet nf1Convenience Valet is a value-added nationwide distributor of blister pack branded convenience and travel-sized health and beauty care products, over-the-counter drugs, personal care products and other sundries sold in small-portion packages.  The company acquires branded products from manufacturers and then repackages the products in convenient sizes (for instance, single or double dose) and trial and travel-size packages.  Products are sold at more than 120,000 retail locations and include grocery stores, convenience stores, drug stores, gas stations, mass merchants, warehouse clubs, travel centers, airports, hotels and cruise lines.  The company was founded in 1946 and just like Medex, is headquartered in Melrose Park (www.cvalet.com).

Ronald Weinberg Jr nf1“We are very pleased to have consummated our first add-on acquisition for Convenience Valet,” said Ronald (Chip) Weinberg, Jr., a managing director and principal at Weinberg Capital. “Medex is the first in what we believe will be multiple additions to our platform.”

weinberg nf12Weinberg Capital specializes in acquiring middle-market companies that are based in North America and have annual revenues from $15 million to $100 million and EBITDAs ranging from $2 million to $10 million.  Sectors of interest include manufacturing, business services, medical and healthcare, aviation services, consumer products, and value-added distribution. The firm is based in Cleveland (www.weinbergcap.com).

Weinberg Capital is actively seeking additional add-on acquisitions for Convenience Valet.

© 2016 Private Equity Professional • 7-8-16

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