Fleet Laboratories is a manufacturer and marketer of personal care and over-the-counter products in the feminine hygiene, gastrointestinal, and infant care categories. The company’s product lines include Summer’s Eve feminine hygiene products, the Fleet disposable enema, Norforms feminine deodorant suppositories, Pedia-Lax laxatives for children, Phazyme anti-gas medication, and the Boudreaux’s brand of baby products. Fleet Laboratories was founded in 1869 and is based in Lynchburg, VA (www.cbfleet.com).
“Fleet Laboratories is a unique and attractive platform in the OTC health and personal care market due to its scale, established infrastructure, and portfolio of well-established, trusted, and widely recognized brands,” said Spyro Alexopoulos, Managing Director at Golub Capital. “Gryphon and management have proven brand building capabilities and we are excited to partner with them to continue to grow the business.”
Golub Capital’s middle market lending team structures financings with hold positions of up to $250 million. The team also underwrites and syndicates senior credit facilities and one-loan debt facilities up to $500 million. Golub Capital’s lending offices are located in Chicago, New York and San Francisco (www.golubcapital.com).
Golub has provided financing to Gryphon on numerous transactions. “This is our fourth transaction with Golub Capital in the past four years and it continues to be a strong relationship,” said Dorian Faust, Managing Director at Gryphon. “Golub’s reliability, flexibility and ease of execution were all differentiating factors in our choice of a credit provider to lead the senior debt financing of this transaction and they delivered. We look forward to continuing our partnership through the life of this investment as we make accretive acquisitions of attractive OTC brands.”
Gryphon Investors makes leveraged acquisitions and growth investments in middle-market companies. The firm invests from $35 million to $100 million of capital in companies with sales ranging from $100 million to $500 million. Sectors of interest include business services, consumer and retail, automotive, chemical, general manufacturing, health care and hotels. The firm is based in San Francisco (www.gryphoninvestors.com).
2014 PEPD • Private Equity’s Leading News Magazine • 10-26-14