Swander
Pace Capital (SPC), a leading private equity firm specializing in
investments in consumer products companies, has finalized its sale of
over-the-counter (OTC) products portfolio company Insight
Pharmaceuticals (Insight) to Prestige Brands Holdings (NYSE: PBH)
for $750 million. The sale of Insight represents the firm’s second
successful platform investment in the OTC industry.
“Today’s sale is the culmination of a successful five-year partnership
to build a world-class OTC company,” said Mo Stout, Managing Director at
SPC. “During our ownership, Insight grew sales from approximately $80
million to more than $200 million. We want to thank the management team
at Insight for all of their hard work in creating significant value for
the company’s stakeholders.”
“We are extremely proud of our partnership with Swander Pace, which was
essential in supporting our growth and providing industry best practices
and new business opportunities,” said Gary Downing, CEO of Insight. “We
look forward to the next phase in our development and would like to
thank Swander Pace and its investment partner, the Ontario Teachers’
Pension Plan, for their tireless commitment and support over the past
five years.”
Under the ownership of SPC and Teachers’, Insight expanded its
product portfolio of OTC women’s health and personal care products,
adding high-profile brands e.p.t®, the leading home pregnancy testing
brand, and MONISTAT®, the No. 1 brand in the vaginal antifungal
category. The Insight portfolio consists of nearly 30 OTC brands, and
the company has become one of the most innovative and fastest-growing
players in the category.
“Through focused brand development, cost improvements, and strategic
acquisitions, we were able to grow the company’s sales by more than 150
percent and provide an exceptional return on investment for our
investors,” said Corby Reese, Managing Director at SPC. “Our exit of
Insight represents another successful execution of our consumer products
investment strategy to attract and partner with world-class management
teams, implement effective marketing strategies, and drive operating
efficiencies.”
Kirkland & Ellis LLP served as legal adviser to SPC on the sale.
About Swander Pace Capital
Swander Pace Capital is a leading private equity firm specializing in
investments in growth-oriented, middle-market consumer products
companies in North America and the United Kingdom. Since its inception
in 1996, Swander Pace Capital has applied its consumer products
expertise pursuing a consistent strategy of acquiring or investing in
consumer products companies with leading market positions in attractive,
defensible niches. With staff in San Francisco, New Jersey, and Ontario
(Toronto), Swander Pace Capital provides portfolio companies with a
unique mix of financial and strategic consulting support to create
long-term value. Swander Pace Capital has raised over $1.3 billion of
equity capital through five private equity funds and has led successful
investments in more than 40 consumer products companies with total
revenues in excess of $2.0 billion. For more information, visit www.spcap.com.
About Ontario Teachers’ Pension Plan
With $140.8 billion in assets as of December 31, 2013, the Ontario
Teachers' Pension Plan is the largest single-profession pension plan in
Canada. An independent organization, it invests the pension fund's
assets and administers the defined benefit pensions of 307,000 active
and retired teachers in Ontario. For more information, visit www.otpp.com.
About Insight Pharmaceuticals
Insight Pharmaceuticals is a consumer products company whose strategy is
to generate growth by acquiring brands with solid consumer equity that
can be further developed through their merchandising and marketing
expertise. The company strengthens its portfolio of brands by employing
a variety of strategies, all with an in-depth understanding of the
heritage of the brand and the needs of the consumer. Additional
information about Insight Pharmaceuticals can be found at www.InsightPharma.com.
Copyright Business Wire 2014