Gilchrist & Soames is a provider of luxury toiletries sold to hotels, resorts, and spas, inns, and bed and breakfasts. The company led by its Kathie De Voe, President and CEO, and is headquartered in Indianapolis, with a European sales and distribution office in London, UK (www.gilchristsoames.com).
“I’m incredibly proud of our partnership with Gilchrist & Soames over the past eight years,” said Mo Stout, managing director at Swander Pace. “Kathie and her team have pushed the company to new heights and set the standard for luxury beauty and personal care products for travelers throughout the world. We look forward to watching the company continue to grow with its new partner, Guest Supply.”
Swander Pace acquired Gilchrist & Soames in October 2007. During the course of its ownership, the company expanded its client base from predominantly boutique luxury hotels in North America to large international prestige hoteliers throughout the world, such as The Peninsula Hotels, Hyatt and Mandarin Oriental Hotel Group.
“I want to thank Swander Pace for being an incredible partner,” said Ms. De Voe, “With their support and guidance, we’ve nearly doubled the size of our business, expanded to new markets and properties around the world, invested in and built a best-in-class new headquarters facility in Indianapolis, and secured the interest of a new partner to build on that momentum.”
“Gilchrist & Soames was a fantastic partnership and the perfect example of how private equity and great management teams can grow a company,” said Swander Pace director Heather Smith Thorne. “Working with management, we made major investments into the business, expanded distribution, and positioned the company to find a new partner that will take them through their next growth chapter. We couldn’t be more pleased for Kathie and her team.”
Swander Pace invests in middle-market consumer products companies including branded and non-branded manufacturers, marketers, and distributors that sell through a range of retail and institutional channels. The firm generally targets companies that have up to $400 million in revenues. The firm has raised over $1.3 billion of equity capital through five private equity funds and has led investments in more than 40 consumer products companies. Swander Pace was founded in 1996 and has offices in San Francisco; Bedminster, NJ; and near Toronto in Oakville, ON (www.spcap.com).
Guest Supply, the buyer of Gilchrist & Soames, provides a range of products to hotels and has over 25,000 hotel customers in more than 100 countries. The company is headquartered in Monmouth Junction, NJ (www.guestsupply.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 9-21-15