Frontenac has completed the acquisition of Liquid Technologies, a contract formulator and manufacturer of personal care products.
Liquid Technologies capabilities include formulation, development, blend manufacturing, filling and packaging. Products include shampoos, conditioners, styling products and aerosols, in addition to skin care products such as creams and lotions. The company is headquartered east of Los Angeles in Chino, CA (www.liquidtek.com).
Jay Kline, a former President at Kennametal (2010 – 2014), Tekni-Plex (2005 – 2009), and BASF (1998 – 2005), partnered with Frontenac on this acquisition and became the new Chief Executive Officer of Liquid Technologies at closing.
“Liquid Technologies has a variety of competitive advantages including technical and formulation capabilities as well as a customer and service centric culture,” said Ron Kuehl, a managing director at Frontenac. “We will support Liquid Technologies as it continues its impressive organic growth trajectory and as it begins its pursuit of strategic and complementary acquisitions.”
Frontenac invests in lower middle-market businesses that operate primarily in the food, industrial, and services industries. The firm was founded in 1971 and is headquartered in Chicago (www.frontenac.com).
“We are excited to make a new platform investment in an attractive, recession resistant market segment,” said Neal Sahney, a vice president at Frontenac. “We believe strong industry fundamentals such as consumers’ desire for premium and custom products and favorable demographic trends toward health and beauty will continue to drive demand for years to come.”
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 4-27-16