Centrally located in Dallas, Texas, Goodier is a value-added service provider and manufacturing partner to the professional skincare industry. The business specializes in product development and formulation and has led the market in new and cutting edge technologies for 100 years. Goodier’s customers include a combination of established and emerging brands, helping entrepreneurs and companies in need of expert formulation and large-scale filling and manufacturing. The business is responsible for producing some of the best known skin care products on the market today.
Revision Skincare
For more than two decades, Revision Skincare® has provided dermatologists, plastic surgeons and medical spas with clinically proven, high-performing skincare products. Using only premium quality ingredients, the Revision Skincare collection was formulated to provide targeted solutions for enhancing skin’s appearance and reducing signs of aging. Based in Irving, Texas, Revision Skincare is sold in more than 10 countries.
Metagenics
Metagenics is the leading global practitioner-recommended nutritional supplement company. Metagenics’ mission is to provide effective nutritional solutions recommended by healthcare professionals to help people live happier, healthier lives. The company develops, manufactures, and markets premium, science-backed supplements with measurable results across a wide range of therapeutic applications in North America, Europe, Australia, and Asia.
Gryphon Investors Announces Acquisition of Revision Goodier
Gryphon Investors (“Gryphon”), a leading middle-market private equity firm, today announced that it has signed a definitive agreement to acquire Revision Skincare and Goodier Cosmetics (collectively “Revision Goodier”). In partnership with Revision Goodier’s leadership team, including CEO Maria Carell, Gryphon will continue to invest in the company’s mission of developing and delivering clinically-proven and highly-efficacious skincare products to a global customer base and advance the company’s contract development and manufacturing (“CDMO”) capabilities. Financial terms of the transaction were not disclosed. The transaction is expected to close in the fourth quarter of 2021.
For more than two decades, Revision Skincare® has provided dermatologists, plastic surgeons and medical spas with clinically proven, high-performing skincare products. Using only premium quality ingredients, the Revision Skincare collection was formulated to provide targeted solutions for enhancing skin’s appearance and reducing signs of aging. Based in Irving, Texas, Revision Skincare is sold in more than 10 countries.
Since 1922, Irving, TX-based Goodier Cosmetics has been a trusted developer and manufacturer in cosmetic and OTC topical skincare solutions. Differentiated by an industry renowned Innovation Center of Excellence, Goodier, along with its team of R&D chemists, engineers and regulatory experts, remains at the forefront of market trends, new technologies, ingredients and advancements in formulation science.
Gryphon Operating Partner Mike Ferry said, “Revision has a unique position as a high-growth independent company in a compelling market. Skincare consumers are becoming more discerning about the products they use, and we are excited to invest in Revision’s mission to help bring carefully formulated and highly efficacious skincare products to a global customer base.”
Eddie Douglas, Principal in Gryphon’s Consumer Group, noted, “We are thrilled to partner with Maria and her outstanding team to support Revision’s movement to bring scientific credibility, quality, innovation, and elegance to the professional skincare market. We are equally excited about the opportunity to build on Goodier’s differentiated capabilities and deliver world-class service to some of the fastest growing brands across the prestige beauty and personal care space.”
Ms. Carell commented, “We are delighted to partner with the team at Gryphon as we enter our next phase of growth. Gryphon is an ideal partner given their knowledge of skincare, consumer health, and professionally-endorsed brands, and their investment will allow us to accelerate the incredible momentum we have built over the last few years.”
Matt Farron, Partner and Head of Gryphon’s Consumer Group, added, “Revision Goodier represents a bullseye opportunity for Gryphon and leverages our proactive focus of investing behind leading efficacious skincare brands. We are proud to be partnering with the Revision Goodier management team, leaders in the clinical, efficacious skincare category, and to be supporting the team through their next phase of growth.”
Revision Goodier’s management team will continue to be led by CEO Maria Carell. As part of the transaction, a number of Gryphon Executive Advisors will join Gryphon Operating Partner Mike Ferry, Gryphon Deal Partner Matt Farron, and Gryphon Principal Eddie Douglas on the Board of Directors. The transaction marks Gryphon’s third investment in skincare products and services and first investment in the physician dispensed skincare category.
William Blair & Company, LLC is serving as the exclusive financial advisors to Gryphon. Financo Raymond James is serving as financial advisors to Revision Goodier. Kirkland & Ellis LLP is acting as legal advisor to Gryphon, and Sidley Austin LLP is acting as legal advisor to Revision Goodier.
About Revision Goodier
Revision Skincare® (“Revision”): One of the first brands to be sold through doctors’ offices, Revision Skincare® is known for its ground-breaking, effective and scientifically proven formulations, changing the way clinical skincare results are achieved. Revision offers products that are enabling patients and consumers to achieve beautiful skin without ever compromising the skin’s long-term health. The portfolio includes well-known franchises such as Nectifirm®, Intellishade®, D·E·J and Revox™.
Goodier Cosmetics (“Goodier”): Goodier is a leading skincare CDMO with a long history of creating quality products with significant commercial success. Goodier is known for developing innovative formulations that utilize the latest ingredients and technologies, and for bringing products from concept to a saleable finished good. Customers, including high-growth emerging brands and established market-leading brands, turn to Goodier for its flexible customer-centric service and full turn-key experience. Goodier stands out as one of the preferred CDMOs specializing in high-end topical solutions.
About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. The firm has managed over $7.5 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $50 million to $300 million in portfolio companies with enterprise values ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.
Gryphon Investors Announces Acquisition of Metagenics
Gryphon Investors (“Gryphon”), a leading middle-market private equity firm, today announced that it has signed a definitive agreement to acquire Metagenics, Inc. from Alticor Inc. Metagenics is a leading global practitioner-recommended nutritional supplement company. In partnership with Metagenics’ leadership team, including CEO Brent Eck, Gryphon will continue to invest in Metagenics’ global mission of providing effective nutritional solutions recommended by healthcare professionals to help people live happier, healthier lives. Financial terms of the transaction were not disclosed. The transaction is expected to close in the fourth quarter of 2021.
Founded in 1983 and based in Aliso Viejo, CA with facilities in North America, Europe, and Australia, Metagenics creates clinically proven and transparent nutrition programs and products to support good health. Its more than 850 natural health products span seven functional areas, including digestive health, foundational health, cardiometabolic/immune response, neurological health, immune health, women’s health, and bariatric health. For over 35 years, Metagenics has partnered with healthcare practitioners who recommend its nutritional products to support their patients’ health with measurable results.
Metagenics’ management team will continue to be led by CEO Brent Eck. As part of the transaction, Gryphon Executive Advisor Steve LaMonte will become Executive Chairman of the Metagenics Board. This will be the fourth investment on which Gryphon and Mr. LaMonte have partnered. He will be one of several Gryphon executive advisors to join the board along with Gryphon Operating Partner Mike Ferry, Gryphon Deal Partner Matt Farron, and Gryphon Managing Director Ryan Fagan. The transaction marks Gryphon’s third investment in consumer health products and first investment in the nutritional health category.
Gryphon Operating Partner Mike Ferry said, “Metagenics has a unique position as a leader among nutrition brands recommended by healthcare practitioners across its three core geographic markets. We are excited to invest behind the Metagenics mission, including helping their healthcare practitioner partners to support the health of their patients around the world.”
Ryan Fagan, Managing Director in Gryphon’s Consumer Group, said, “We’re happy to partner with a company that operates at the gold standard of scientific credibility, quality, innovation, and sourcing transparency. Both healthcare practitioners and their patients are increasingly focused on making proactive healthy lifestyle choices, and nutrition is a necessary part of that effort. Gryphon has been searching for the right platform to invest behind this movement for several years and we will continue to actively search for similar opportunities—potential acquisitions for Metagenics as well as incremental independent platforms in the health and wellness category.”
Mr. Eck commented, “We are delighted to partner with the team at Gryphon as we plan for long-term sustainable growth for the Metagenics brand around the world. Gryphon brings a truly differentiated set of capabilities as a partner, and their investment will allow us to invest for the future, both organically and through strategic acquisitions.”
Matt Farron, Partner and Head of Gryphon’s Consumer Group, added, “Metagenics has a passionate organization led by a highly professional senior management team. We are thrilled about the potential for our partnership and the long-term future of this business.”
Jefferies LLC and Solomon Partners are serving as financial advisors to Gryphon. Nomura Securities International, Inc. and William Hood & Company are serving as co-lead financial advisors to Alticor. Kirkland & Ellis LLP is acting as legal advisor to Gryphon, and Bryan Cave Leighton Paisner LLP is acting as legal advisor to Alticor.
About Metagenics
Founded in 1983 and based in Aliso Viejo, CA with facilities in North America, Europe, and Australia, Metagenics is a leading global nutritional supplement company. Metagenics uses the science of nutritional genomics to create nutrition programs and products to support good health. Its more than 850 natural health products span seven functional areas, including digestive health, foundational health, cardiometabolic/immune response, neurological health, immune health, women’s health, and bariatric health. For more information, visit www.metagenics.com.
About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. The firm has managed over $7.5 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $50 million to $300 million in portfolio companies with enterprise values ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.
Gryphon Investors’ Mechanix Wear Acquires Chicago Protective Apparel
Mechanix Wear®, a leading designer and manufacturer of high-performance work gloves, announced today it has acquired Chicago Protective Apparel (“CPA” or the “Company”), a 108 year-old, family-owned manufacturer of personal protective equipment (PPE). Mechanix Wear is a portfolio company of middle-market private equity firm Gryphon Investors. Terms of the transaction were not disclosed.
Founded in 1913 and headquartered in Skokie, IL, CPA manufactures and offers an extensive line of over 20,000 products for arc flash, foundry, and welding applications. The Company’s previous owners, Scott and Myrna Sherman, are retiring after 30 years of service. Vice President John Merikoski will remain with the Company as Director of Production, along with other members of the management team.
Mechanix Wear CEO Michael Hale said, “Our two-year partnership with Gryphon has accelerated our growth and positioned us to expand beyond our core line of work gloves. CPA’s culture of quality and focus on innovation synchronize with Mechanix Wear’s mission of bringing the latest design and material innovation to gloves for working hands. Moving forward, we will integrate and expand on CPA’s product portfolio by looking beyond conventional ideas to innovate the most advanced PPE possible. We are excited to collaborate with John and his team.”
Ryan Fagan, Managing Director in the Consumer Group at Gryphon, said, “We’ve been happy to partner with Michael and his team, and see the impressive growth they have continued to achieve as Mechanix Wear celebrates its 30th year of Hand Built Trust. We are excited to welcome CPA into our partnership.”
Mr. Merikoski commented, “We thank Scott and Myrna for building a trusted company that has attracted a loyal following and enjoyed enormous success. We are now in a great position to grow, and we are delighted to team up with such an iconic brand as Mechanix Wear. With their support, and with Gryphon’s capital and operational resources behind us, we expect to invest in continued innovation and customer satisfaction both domestically and abroad.”
EC M&A served as financial advisor to Gryphon and Mechanix Wear. Kirkland & Ellis acted as legal advisor to Gryphon and Mechanix Wear, and Williams, Bax & Saltzman acted as legal advisor to CPA.
About Mechanix Wear®
Since the debut of the Original® work glove at the 1991 Daytona 500, Mechanix Wear has built a reputation as the leader in automotive, construction, industrial, and tactical hand protection. Headquartered in Valencia, California, the Company sells its products in more than 20,000 retail store locations across more than 70 countries and through industrial distributors. Our mission is to look beyond conventional ideas and continually innovate the most advanced gloves for working hands. The Tool That Fits Like a Glove®. For more information, visit www.mechanix.com.
About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. The firm has managed over $5.0 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $50 million to $300 million in portfolio companies with enterprise values ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.
Ben Long
Ben is responsible for analyzing, executing, and monitoring investments within the Gryphon Consumer Group, including current portfolio companies Milani Cosmetics and RoC Skincare.
Dessert Holdings, Leading Premium Dessert Company, Announces Acquisition by Bain Capital Private Equity
Dessert Holdings®, North America’s leading premium dessert company, today announced that it has entered into a definitive agreement to be acquired by Bain Capital Private Equity to accelerate its growth and expansion. Dessert Holdings will continue to operate under its current management team, led by Chief Executive Officer Paul Lapadat. Financial terms of the private purchase from current owner Gryphon Investors were not disclosed.
Based in St. Paul, Minnesota, Dessert Holdings® is North America’s premium dessert company and the platform for three premium brands: The Original Cakerie, Lawler’s Desserts, and Atlanta Cheesecake Company. The Original Cakerie®, founded in 1979, is a leading manufacturer of high-quality desserts with locations in Vancouver, British Columbia, and London, Ontario. Lawler’s Desserts®, founded in 1976, is a leading manufacturer of gourmet cheesecakes, layer cakes, pies, and other premium desserts based in Humble, Texas. Atlanta Cheesecake Company®, founded in 1988, is a leading manufacturer of premium cheesecakes and fusion desserts based in Kennesaw, Georgia. Together, the brands serve more than 250 customers in the United States, Canada, Mexico, the Caribbean, South America, and Asia. Dessert Holdings is widely recognized for providing retail and foodservice customers with chef-inspired innovative desserts made with real ingredients, a flexible and low-cost supply chain, and best-in-class service.
“We are focused on building the leading premium dessert company in North America by bringing innovative, chef inspired dessert products to our retail and foodservice customers,” said Lapadat. “Bain Capital Private Equity’s investment and business-building expertise is coming at just the right time in our evolution, and they share our vision and ambition to accelerate our growth as the innovation leader in premium, artisanal desserts. We want to thank Gryphon Investors for its support over the last five years and look forward to partnering with our new owners to expand our organization and support the next stage of growth.”
“Paul and his team have done an exceptional job in building Dessert Holdings as the leading premium desserts platform in a category that continues to grow as consumers increasingly choose to treat themselves to desserts with high quality, clean label ingredients,” said Adam Nebesar, a Managing Director at Bain Capital Private Equity. “We are thrilled to partner with this experienced team and look forward to supporting Dessert Holdings as it develops new and innovative products, pursues organic growth and acquisition opportunities, and further strengthens its value proposition to existing and new customers.”
“Gryphon is delighted to transition our investment in Dessert Holdings to a partner that will help them attain next-level growth. Over our five years of ownership in the company, we have supported two add-on acquisitions, overseen a sizeable plant expansion, and solidified the management and operations team into a highly professional organization. We are proud to leave Dessert Holdings well-positioned to thrive in a burgeoning market sector with strong growth trends, and we wish Paul and the entire team continued success,” said Keith Stimson and Matt Farron, both Partners at Gryphon.
Bain Capital Private Equity has a long history of partnering with companies to accelerate growth, including in the consumer, retail, and restaurant industries. The firm’s restaurant, foodservice and grocery-related investments have included Advantage Solutions (NASDAQ: ADV), Bloomin’ Brands (NASDAQ: BLMN), Brakes Group Food Distribution, Burger King (NYSE: QSR), Dunkin’ Brands Group (NASDAQ: DNKN), Domino’s Pizza (NYSE: DPZ), Domino’s Pizza Japan, Retail Zoo, and Skylark Restaurants.
The transaction is expected to close during the second quarter of 2021 and is subject to customary closing conditions, including requisite regulatory approvals. Debt financing for the transaction is being led by Antares Capital.
Houlihan Lokey is serving as financial advisor to Dessert Holdings. PwC is serving as accounting advisor, and Ropes & Gray LLP is serving as legal counsel to Bain Capital Private Equity.
About Dessert Holdings
Dessert Holdings® is North America’s premium dessert company, recognized for providing our retail and foodservice customers with chef-inspired innovative desserts made with real ingredients, a flexible and low-cost supply chain, and best-in-class service. Based in St. Paul, Minnesota, Dessert Holdings is an umbrella organization of three premium dessert companies and brands: The Original Cakerie, Lawler’s Desserts, and Atlanta Cheesecake Company. Together, the companies serve more than 250 customers in the United States, Canada, Mexico, the Caribbean, South America, and Asia.
About Bain Capital Private Equity
Bain Capital Private Equity (www.baincapital.com) has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of more than 250 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media, and telecommunications. Bain Capital has 22 offices on four continents. The firm has made primary or add-on investments in more than 1,000 companies since its inception. In addition to private equity, Bain Capital invests across asset classes including credit, public equity, venture capital, and real estate, managing approximately $130 billion in total and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus.
About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. The firm has managed over $5.0 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $50 million to $300 million in portfolio companies with enterprise values ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.
Latanya Fitzpatrick
Latanya supports Gryphon’s Consumer Team. Executive Assistant at Citigroup.
Eddie Douglas
Currently serves on Gryphon Company Board:
Revision Skincare & Goodier Cosmetics
Vetnique Labs
Eddie is responsible for sourcing, analyzing, executing, and monitoring investments within our Consumer Group, including Revision Skincare & Goodier Cosmetics, RoC Skincare, and Vetnique Labs.