JPB Capital Partners has sold its equity ownership in Ilex Consumer Products Group to Yellow Wood Partners at a multiple of more than two times its investment in less than 24 months. JPB Capital Partners invested in Ilex Consumer Products Group in January 2011 to finance the company’s acquisition of the St. Joseph’s brand from Johnson & Johnson.
Ilex Consumer Products Group (ICPG) is a consumer brand management company that owns and licenses brands in the health, beauty and over-the-counter pharmaceutical sectors. Brands include St. Joseph’s, di-Gel, Calgon and the Healing Garden. The company was founded in 2008 and is based in Baltimore (www.ilexgroup.com).
Following its initial investment in January 2011, the team at JPB Capital Partners worked with the management team at Ilex Consumer Products to (i) acquire the St. Joseph’s brand from Johnson & Johnson, (ii) re-establish the supply chain and retail distribution for St. Joseph’s low dose aspirin to more than 40,000 doors in less than six months, (iii) expand the St. Joseph’s brand to the 325 mg. and Cough & Cold categories, and (iv) acquire a license to and re-launch the di-Gel brand of digestive aids in 2012.
“The sale of Ilex Consumer Products to Yellow Wood represented a great opportunity to realize a significant return on our investment, as well as position the company for additional significant growth with the proven consumer products investment team at Yellow Wood,” said JPB Capital Partners’ Senior Managing Director Jim Bolduc.
JPB Capital Partners makes equity investments in lower-middle market companies located primarily in the Mid-Atlantic and Southeast US and participating in or benefiting from the consumer and health care sectors of the US economy. JPB Capital Partners was founded in 1995 by JP Bolduc, the former President and CEO of W.R. Grace & Co. The firm is based in Columbia, MD (www.jpbcapital.com).
Yellow Wood Partners seeks to invest in consumer brands and companies with revenues between $30 million and $200 million, with targeted equity investments ranging from $10 million to $80 million per investment. The firm was founded in 2011 by Dana Schmaltz and Peter Mann; both have experience investing in and operating consumer packaged goods businesses such as Blacksmith Brands, Prestige Brands, Meow Mix, Medtech, and the Spic And Span Company. Yellow Wood has offices in Boston, MA and Irvington, NY (www.yellowwoodpartners.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 1-14-13