Nolan Capital has made an investment in wet wipes maker Diamond Wipes International.
Diamond Wipes is a contract and private label manufacturer of disposable moist towels and sample packets. The company was founded in 1994 by Eve Yen and has manufacturing facilities near Los Angeles in Chino, CA and north of Columbus in Bucyrus, OH (www.diamondwipes.com).
Post closing, Ms. Yen will continue in her role as CEO of Diamond Wipes and the company will maintain its majority woman-owned and operating status. “With this investment we plan a significant expansion of our manufacturing capability in the United States that will enable us to service our existing customers better and grow with new clients,” said Ms. Yen.
Nolan Capital is the family office of Peter Nolan, a former managing partner and current senior advisor to Leonard Green & Partners. The firm makes equity investments in US based companies that have EBITDAs from $8 million to $25 million. Nolan Capital is based south of Los Angeles in Hermosa Beach, CA (www.nolancap.com).
“I look forward to working with Eve and her team on a board level,” said Mr. Nolan. “She is truly a pioneer and a leader in this industry and it’s my hope that Diamond Wipes’ uninterrupted growth will continue under her leadership.”
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 3-28-16