JPB Capital Partners (JPB CP) has sold its equity ownership of Ilex Consumer Products Group, Inc.–a portfolio company of JPB Capital Partners II, L.P.–to Yellow Wood Partners of Boston, MA at a multiple of more than two times its investment in less than 24 months.
JPB Capital Partners II, L.P. (JPB CP II) invested in Ilex Consumer Products Group, Inc. (ICPG) in January 2011 to finance ICPG's acquisition of the St. Joseph's brand from Johnson & Johnson. Based in Baltimore, MD and founded in 2008, ICPG is a consumer brand management company that owns and licenses brands in the health, beauty and over?the?counter (OTC) pharmaceutical sectors, including St. Joseph's, di-Gel, Calgon and the Healing Garden.
Following its initial investment in January 2011, the team at JPB CP worked with the management team at ICPG to (i) acquire the St. Joseph's brand from Johnson & Johnson, (ii) re-establish the supply chain and retail distribution for St. Joseph's low dose aspirin to more than 40,000 doors in less than six months, (iii) expand the St. Joseph's brand to the 325 mg. and Cough & Cold categories, and (iv) acquire a license to and re-launch the di-Gel brand of digestive aids in 2012.
"The sale of Ilex Consumer Products to Yellow Wood represented a great opportunity to realize a significant return on our investment, as well as position the company for additional significant growth with the proven consumer products investment team at Yellow Wood," said JPB Capital Partners' Senior Managing Director Jim Bolduc. The sale of ICPG will leave one remaining investment in JPB CP II's portfolio.
About JPB Capital Partners:
JPB Capital Partners, located in Columbia, MD, is the private equity arm of JPB Partners. JPB Capital Partners makes equity investments in lower-middle market companies located primarily in the Mid-Atlantic and Southeast U.S. and participating in or benefiting from the consumer and health care sectors of the U.S. economy. As evidenced in the sale of Ilex, a key element of JPB CP's investment strategy is to leverage the strong operational orientation and breadth of functional expertise of its team to work actively with portfolio company management teams to improve operating performance and maximize value. JPB Capital Partners was founded in 1995 by JP Bolduc, the former President and CEO of W.R. Grace & Co. Visit www.jpbcapital.com for more information.
About Ilex Consumer Products Group Inc.:
Based in Baltimore, MD, Ilex Consumer Products Group is a consumer brand management company that owns and licenses brands in the health, beauty and over-the-counter (OTC) pharmaceutical sectors. The brands marketed by Ilex in the health and beauty segment consist of Calgon and the Healing Garden. In the OTC segment, Ilex markets products under the St. Joseph's and di-Gel brands. These brands have prominent distribution positions in the food, drug, and mass retailers throughout the United States and Canada. Visit www.ilexgroup.com for more information.
About Yellow Wood Partners:
Yellow Wood Partners was founded in 2011 by Dana Schmaltz and Peter Mann, two seasoned executives with deep experience investing in, and then operating, consumer packaged goods (CPG) businesses. With their extensive experience, much of it in partnership with traditional private equity firms, Dana and Peter believed there was a better investment model. The Yellow Wood approach places a greater focus on operational capabilities in the selection, diligence and management of the firm's investments. Also key to their goal was to restore a more appropriate alignment of interests among the operating management teams of their portfolio companies, private equity investors and Yellow Wood principals. And so, Yellow Wood was born with the motto: "Taking the road less traveled in private equity." Yellow Wood has offices in Boston, MA and Irvington, NY. Visit www.yellowwoodpartners.com for more information.