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 12th 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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