J.H. Whitney Capital Partners, LLC, a leading private equity investment firm, is pleased to announce the sale of its portfolio company Accupac, Inc. (“Accupac” or the “Company”) to Palladium Equity Partners.
Accupac is a leading U.S. provider of outsourced manufacturing and packaging solutions to the world’s largest personal care product, pharmaceutical, and over-the-counter (OTC) drug manufacturers. The Company is a specialist in liquid topical and oral care products, including skin creams, toothpastes, moisturizing lotions, mouthwash and other personal care products, many of which require FDA approval. All Accupac manufacturing facilities are FDA registered and cGMP compliant.
Through J.H. Whitney’s partnership with Accupac’s leadership team, the Company made significant improvements in both operations and sales. During J.H. Whitney’s investment period, Accupac implemented facility improvements to substantially increase and expand manufacturing capacity. Furthermore, the Company has driven significant organic growth with new and existing customers given Accupac’s unique ability to manufacture specialty products.
Bruce Wright, Accupac’s CEO, said, “We are proud of what we accomplished during our partnership with J.H. Whitney and we are excited to continue Accupac’s growth trajectory with our new partner Palladium Equity Partners. We believe that this transaction is the right step for Accupac to continue offering our customers superior quality products.”
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“We have had a great partnership with the Accupac management team and we are proud of the changes made to further position the Company for success,” commented Bob Williams, a Senior Managing Director at J.H. Whitney. “Through substantial investment in people and facilities, with a constant focus on customers, Accupac has developed into a market leader. We look forward to seeing Accupac continue its successful growth with Palladium.”
Bob Williams and Aaron Pomeroy led the transaction for J.H. Whitney. Lincoln International, LLC served as financial advisor to Accupac on the transaction. Gibson, Dunn & Crutcher LLP served as the Company’s legal advisors. Houlihan Lokey served as financial advisor for Palladium. Greenberg Traurig, LLP served as the legal advisors for Palladium.
The transaction terms were not disclosed.
Source: BioSpace
