Quest Products, LLC. Acquires Tec Laboratories, Inc. Including Tecnu® and Licefreee® Brands
PLEASANT PRAIRE, Wis., Feb. 29, 2024 /PRNewswire/ -- Quest Products, LLC. (Quest) today announce its acquisition of Tec Laboratories, Inc. (Tec Labs). Quest is a portfolio company of Promus Equity Partners (Promus).
Quest Products creates healthcare solutions for the way people live now: healing pain, providing relief and putting the power of self-care in their hands. We use the most forward-thinking technology and ingredients to transform how people approach their healthcare challenges. With this merger, Quest will add the Tecnu® Brand, the leading "Outdoor Itch Expert" solution for poison ivy and oak and insect bites, and the Licefreee® brand, the Original Non-Toxic Head Lice Treatment to its portfolio of self-care products, which include OraCoat® for Dry Mouth, Clinere® for Ear Cleaning, Alocane® for Emergency Burns, Enemeez® mini-enemas for constipation relief, SUNBURNT® for after-sun skin recovery and ProVent® for various First Aid Skin Conditions.
The Tecnu® and Licefreee® Brands have been preferred and trusted formulas assisting consumers to solve their healthcare problems for more than 35 years. The formulations utilized in these products were developed for consumers who need an immediate solution without the use of harsh chemicals or pesticides.
Quest Products President & CEO Michael J. Brennan said, "We are extremely proud to add both the Tecnu® and Licefreee® brands to our portfolio of category-leading brands. We are excited to partner with the Smith Family and combine two great companies into one powerful organization fostering a culture of purpose driven value, relentless innovation and continuous improvement. With the Tec Labs acquisition we add an Albany, Oregon based Manufacturing Center of Excellence that deepens our vertically integrated operation with accelerated growth. The Tec Labs Brands will also continue to expand both our Quest Medical and OTC businesses domestically and internationally."
Steve Smith, Chairman of the Board/Co-Founder of Tec Labs said, "I am very proud of what the team has accomplished to build both the Tecnu® and Licefreee® brands into leading brands in their respective categories so consumers can solve their issues with the most effective and non-toxic solutions. My father and Co-Founder, Dr. Robert Smith, if he were alive today, would be extremely proud of what we've accomplished over the decades, and even more excited about the opportunity of merging these two great companies together. We have built a great company, we have helped improve lives, and I'm excited to see the Quest and Tec Laboratories, Inc. companies' team up together to take us to new levels of success in the years to come."
Family Business Advisers advised Tec Labs in the transaction, while Mark W. Eves from Jordan Ramis provided legal representation. Reinhart Boerner Van Deuren provided legal counsel to Quest.
J.P. Morgan Chase & Company provided a senior credit facility. Terms of the investment were not disclosed.
About Tec Labs
The company manufactures and distributes over-the-counter pharmaceutical dermatological preparations. The company was founded in 1977 by a former Mead Johnson executive, chemical engineer Robert L. Smith, and the is headquartered ed Albany, Oregon. The company's products, including its flagship poison oak/ivy scrub, Tecnu, are sold in approximately 47,000 retail outlets.
About Family Business Advisers
Eugene J. Wallace, has served as a trusted adviser for business leaders since 1998. We have helped many families/partners successfully balance the dynamics of family/partnership, business, and ownership. We understand that each family-owned and closely held business is a unique entity and requires a distinct approach to management and leadership dynamics. We work closely with businesses to discover the opportunities they have and the challenges they face as they pursue success. Once these opportunities and challenges are determined, we help define a succession plan that will 'Sustain the Legacy' for the next and future generations.
About Quest Products
Quest Products LLC. is a branded consumer packaged goods company that manufactures, sells and distributes national brands to retail and online stores. Quest seeks to bring innovative, self-care solutions to help people take charge of their health. Quest brands include OraCoat®, Clinere®, Alocane®, Enemeez®, ProVent®, SunBurnt®, AlcoHawk®, CopperFixx® and BeWELL Brands®. Find out more at www.questproductsinc.com.
About Promus Equity Partners
Promus Equity Partners is a private equity firm affiliated with Promus Holdings, a Chicago-based multi-family office. Promus targets healthy lower-middle-market companies with a strong value proposition and outstanding growth prospects. Promus team members are proven investors with wide-ranging experience over numerous economic cycles in a variety of industries. For more information about Promus Equity Partners, contact Steve Brown at sbrown@promusequity.com or Anders Rosenquist at arosenquist@promusequity.com.
Media Contact: Mark McGreevy, Quest Products, LLC
262-925-0970
373719@email4pr.com
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SOURCE Quest Products, LLC
