Swander Pace Capital has completed the buy of Captek Softgel International from Prairie Capital and Skyline Global Partners.
Captek Softgel is a contract manufacturer and distributor of softgels for vitamin, mineral and supplement (VMS) brands across North American and international markets. The company currently services more than 200 brands in 20 countries.
Captek Softgel has encapsulation lines that operate 24/5 and are capable of producing over three billion softgels annually. The company’s facility has approximately 85,000 square feet of production, analytical laboratory, pilot laboratory, and warehousing space and is FDA registered, audited and compliant; and GMP (Good Manufacturing Practice) certified. Captek is led by its CEO David Wood and is headquartered south of Los Angeles in Cerritos, CA (www.capteksoftgel.com).
“I am excited to announce this transaction and partnership with Swander Pace Capital,” said Mr. Wood. “The firm has an incredible track record growing companies in the consumer products industry, and I look forward to partnering with them to enhance our market leadership as one of the top softgel companies in the world.”
“Captek has established itself as a world-class manufacturer and marketer of specialized softgel products for domestic and international VMS brands,” said Corby Reese, a managing director at Swander Pace Capital. “We are impressed with Captek’s management team and look forward to working with them to build upon Captek’s strong positioning and success.”
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).
“Captek is poised for significant growth with its high quality manufacturing, formulation expertise, and unparalleled customer service,” added Mark Poff, a managing director at Swander Pace Capital. “While the VMS category has strong growth, softgels are growing even faster due to their multiple end-use applications, high potency, and ease of swallowing, and we see Captek on the leading edge of that opportunity.”
Kirkland & Ellis (www.kirkland.com) served as the legal advisor to Swander Pace Capital on the acquisition.
© 2015 PEPD • Private Equity’s Leading News Magazine • 12-14-15
