Resilience Capital Partners Portfolio Company CR Brands Completes Sale of Leading Cleaning and Drain Care Brands to RPM International
CLEVELAND--(BUSINESS WIRE)--Aug 1, 2018--Resilience Capital Partners today announced that its portfolio company CR Brands, Inc. has completed the sale of its Mean Green specialty cleaning products line and its exclusive United States and Canadian license for Roto-Rooter-branded drain care products to the Rust-Oleum group of RPM International (NYSE:RPM).
Headquartered in West Chester, Ohio, CR Brands is an innovative consumer packaged goods company with a portfolio of affordable household cleaning and laundry products with superior performance qualities including such well-known names as Biz Stain & Odor Eliminator and at-home dry cleaning product Dryel. Today, CR Brands enjoys national distribution and close customer relationships with leading retailers. After acquiring CR Brands in 2012, Resilience brought in new leadership and implemented an ambitious growth plan that concentrated on growing the company’s differentiated niche brands.
“The CR Brands team has successfully positioned Mean Green and Roto-Rooter for continued growth under their new ownership,” said Bassem A. Mansour, co-CEO of Resilience Capital Partners. “This transaction will enable CR Brands to focus on initiatives to drive continued growth in products such as Biz and Dryel that offer consumers outstanding performance and superior value.”
Added Dan Mickelson, CEO of CR Brands, “We have worked for the past several years to strategically position the Mean Green and Roto-Rooter brands, and both have gained an enormous amount of consumer recognition. Both have exceptional growth prospects, and will be excellent additions to Rust-Oleum’s family of cleaning and drain care products.”
During 2018, Resilience has been named Private Equity Firm of the Year at the 12 th Annual M&A Advisor Turnaround Awards, and, for the second consecutive year, one of the Top 50 Middle Market Private Equity Firms by Bauer Rock Media Group and Grady Campbell Inc.
Jones Day served as legal counsel, and KeyBanc Capital Markets acted as exclusive financial advisor to Resilience and CR Brands.
Terms of the transaction were not disclosed.
About Resilience Capital Partners
Headquartered in Cleveland, Ohio, Resilience invests in niche-oriented manufacturing, value-added distribution and business service companies with sustainable market positions and a clear path to cash flow improvement. Resilience targets platform businesses with $25 million to $250 million in revenues across a broad range of industries where it can improve a company’s operations, competitive positioning and profitability. Resilience manages approximately $600 million for its global investor base that includes pension funds, insurance companies, foundations and endowments, funds of funds and family offices. For more information, please visit www.resiliencecapital.com.
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CONTACT: The Hubbell Group, Inc.
Nicholas Parmelee, 781-878-8882
KEYWORD: UNITED STATES NORTH AMERICA OHIO
INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS RETAIL OTHER RETAIL
SOURCE: Resilience Capital Partners
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PUB: 08/01/2018 06:40 PM/DISC: 08/01/2018 06:41 PM