personal care products

Aterian’s Bright Buys Bocchi

by

Bright International, a portfolio company of Aterian Investment Partners, has acquired Bocchi Laboratories from its family ownership. Aterian acquired Bright International in August 2019.

Bocchi Laboratories is a high volume contract manufacturer of liquid personal care products including shampoos, conditioners, lotions, creams, gels, and fragrances.

Headquartered near Los Angeles in Santa Clarita, California, the company has 225,000 sq. ft. of facilities including an 86,000 sq. ft. production plant and a 96,000 sq. ft. warehouse facility. In New Albany, Ohio, located northeast of Columbus, the company has nearly 200,000 sq. ft. of research and development, production and warehouse facilities.

Bocchi was founded in 1989 by Bob Bocchi and was acquired by Bain Private Equity in 1996. Bain sold the business in 2003 to ClearLight Partners and in 2008 the company was reacquired by Mr. Bocchi. Today the business is led by CEO Joe Pender.

“The partnership between Bocchi and Bright is the ideal outcome for our employees and customers as the combination provides significant resources and capabilities as we continue our growth strategy and our commitment to our customer base through execution and innovation,” said Mr. Pender.

Bright manufactures hair bleach products, shaving depilatory powders, developers and hair colors that are used by consumer product brands sold into the professional salon and retail markets. The company’s services include research and development, formulation, blending, packaging, filling, and kitting. Bright was founded in 1987 by Anthony Bibars and has a manufacturing facility and headquarters near Phoenix in Coolidge, Arizona.

According to Aterian, the combination of Bright with Bocchi creates one of the most diversified full-service beauty and personal care platforms in North America.

“The Bocchi and Bright platform is highly strategic,” said Christopher Thomas, a co-founder and partner at Aterian. “Although each company is a leading North American manufacturer in its respective categories, the combination provides each business and their customer base access to new capabilities, technology, production equipment, innovation and excellence in execution to further align the customers and organization.”

Aterian invests up to $50 million in small-to-middle market businesses with $25 million to $500 million in revenues that are underperforming, turnarounds or otherwise unique situations. Aterian held a final closing of Aterian Investment Partners III LP with $350 million of committed capital in July 2018. Aterian’s earlier fund closed in December 2013 with $257 million of capital commitments.

“We are very excited for the direction of the organization,” added Josh Ciampa, a principal at Aterian. “This is an example of how we continue to grow and invest behind two family-owned and operated organizations, ultimately creating a best-in-class manufacturing and innovation platform for the customer experience.”

Lincoln International was the financial advisor to Bocchi Laboratories.

© 2021 Private Equity Professional | February 11, 2021

Centre Partners Adds Boomerang to Guy & O’Neill

by

Guy & O’Neill, a manufacturer and developer of household cleaning and personal care products and a portfolio company of Centre Partners, has acquired Boomerang Laboratories. Centre Partners acquired Guy & O’Neill in October 2018.

Boomerang Laboratories manufactures and fills a variety of personal care products, light-duty household products and toiletries that include hand and dish soaps, shampoos, conditioners, laundry detergents, fabric softeners and floor cleaners. The company can produce products in the form of liquids, lotions, gels, creams, suspensions and ointments. Boomerang, led by President Paul Nyberg, was founded in 1999 and operates a 75,000 square foot facility near Minneapolis in Spring Park, Minnesota.

Guy & O’Neill’s products include disinfecting wipes and multi-surface cleaners; adult care incontinence products and bathing products; feminine hygiene products; facial and cosmetic wipes; and automotive wipes. Company-owned brand names include Ally, Care4, Clean Cut, Evoke, Green & Clean, and Zippy.

Guy & O’Neil, led by CEO Tom Misgen, has approximately 340,000 square feet of office, production and warehousing facilities at its headquarters located near Milwaukee in Fredonia, Wisconsin.

“Boomerang is an outstanding addition to Guy & O’Neill, as we continue to expand into new and complementary markets and product categories,” said Mr. Misgen. “The company has a long-standing stellar reputation for providing excellent service, quality and flexibility to its valued customers. We are excited to welcome the exceptional Boomerang team, which shares a commitment to innovation, quality, and customer service.”

Centre Partners invests from $15 million to $40 million in North American based middle-market companies that have $30 million to $300 million in revenue and $5 million to $40 million in EBITDA.  Sectors of interest include branded and private label consumer, and healthcare. Centre Partners was founded in 1986 and has offices in New York and Los Angeles.

© 2020 Private Equity Professional | March 26, 2020

Centerbridge to Buy KIK Custom Products

by

KIK Custom Products, a maker of household and personal care products and a portfolio company of CI Capital Partners, has agreed to be acquired by Centerbridge Partners.

KIK Custom Products is a contract and private label manufacturer of consumer products in the laundry, household cleaners, personal care, spa and pool, and over-the-counter medicated and pharmaceutical categories.  KIK entered the pool care business in 2011 with the acquisition of US-based Chem-Lab Products. The company is based north of Toronto in Concord, Ontario (www.kikcorp.com).

“Having followed KIK’s business for nearly seven years, we have great confidence we are supporting a leader in multiple categories with a strong North American footprint,” said Steve Silver, Senior Managing Director of Centerbridge.  “KIK is well positioned for continued expansion through both organic growth and strategic acquisitions. We look forward to supporting KIK and its management team through its next phase of growth and development.”

Centerbridge Partners invests from $50 million to $300 million in US based leveraged buyouts and distressed securities. The firm has $25 billion of capital under management and is headquartered in New York with an additional office in London (www.centerbridge.com).

CI Capital Partners first invested in KIK in 2007. “Under our ownership, Jeff Nodland, CEO, and Ben Kaak, CFO, along with the entire KIK management team, worked tirelessly to transform KIK through organic growth, strategic acquisitions and operational initiatives, creating a clear leader in the marketing and production of consumer packaged goods and pool and spa treatment products,” said Timothy Hall, Managing Director at CI Capital Partners.

CI Capital Partners invests from $25 million to $100 million in middle market companies in the following sectors: business services, consumer services, distribution, government services and defense, and light manufacturing. The firm was founded in 1993 and is based in New York (www.cicapllc.com).

“Our partnership with the KIK management team resulted in a very successful investment for us, and we wish the KIK team and Centerbridge continued success,” said Fred Iseman, Chairman and CEO of CI Capital Partners.

KIK Custom Products was advised by Morgan Stanley & Co. and Rothschild.  Centerbridge was advised by its financial advisor Barclays, who alongside BMO Capital Markets is providing debt financing for the transaction.

© 2015 PEPD • Private Equity’s Leading News Magazine • 7-1-15