ROSEMONT, Ill. , July 1, 2020 /CNW/ -- KIK Custom Products Inc. ("KIK" or the "Company"), one of North America's leading independent manufacturers of household and personal care products, and a global leader in the development and marketing of pool and spa treatment and automotive products, is pleased to announce that it has entered into a definitive agreement under which its KIK Personal Care ("KPC") business would be acquired by Voyant Beauty Holdings, LLC ("Voyant Beauty"), a full-service partner to the personal care and beauty industry, and a portfolio company of Wind Point Partners.
KPC is a leading North American manufacturing partner and formulator for personal care, prestige beauty, over-the-counter and household products serving global consumer product companies and fast-growing asset-light brand owners, and a leading supplier of personal care guest amenities to the North American hotel industry.
"For KIK, the KPC divestiture is a logical next step in the transformation we began in early 2019," said Jared Knudson , Chief Executive Officer of KIK. "We see tremendous opportunities to leverage the common elements of our Household, Pool and Automotive businesses and focus on our core competencies as a pure-play consumer products business. We believe this change capitalizes and builds on KIK's strong momentum as we move into the second half of 2020 and beyond."
"This transaction is a very positive development for the KPC business," said Knudson. "The combination with Voyant Beauty will allow KPC to be part of an organization that is focused entirely on the same industry. The two businesses are highly complementary and merging will enable a broader customer offering, enhanced innovation capabilities, and an extensive manufacturing network."
The transaction is expected to be completed following the satisfaction of customary closing conditions and approvals.
KIK was advised in the transaction by its financial advisor William Blair & Company and its legal advisors Weil, Gotshal & Manges LLP and Blake, Cassels & Graydon LLP. Rothschild & Co also provided financial advisory services to the Company.
Since 1993, KIK has successfully grown from a single-plant operator in retailer-branded (private label) bleach to the leading North American independent manufacturer in household products and a global leader in pool and spa treatment and automotive products. In entering these segments, KIK capitalized on an opportunity to leverage its core manufacturing and marketing competencies to drive scale in fragmented industries. Subsequent to entering each market opportunity, KIK transformed it through a combination of organic growth initiatives and strategic add-on acquisitions and has continued to experience strong growth in all categories. For more information, visit www.kikcorp.com
About Voyant Beauty
Voyant Beauty is a leading, full-service partner to the personal care and beauty industry serving customers at every stage of the brand lifecycle. Voyant Beauty was formed in 2019 following the acquisitions of Vee Pak , Aware Products, and Cosmetic Essence Innovations. Headquartered outside of Chicago , Voyant Beauty's integrated network of innovation and 7 manufacturing facilities delivers responsive solutions and increased speed to market. Additional information about Voyant Beauty can be found at www.voyantbeauty.com
About Wind Point Partners
Wind Point Partners is a Chicago -based private equity investment firm. Wind Point focuses on partnering with top caliber management teams to acquire well-positioned middle market businesses where it can establish a clear path to value creation. The firm targets investments in the consumer products, industrial products, and business services sectors. Wind Point is currently investing out of Wind Point Partners IX, a fund that was initiated in 2019.
Additional information about Wind Point is available at www.windpointpartners.com
SOURCE KIK Custom Products Inc.
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