Deal Details

PurposeBuilt Brands Sells Minority Stake to Rock Mountain and Olayan

Consumer

PurposeBuilt Brands, a portfolio company of Carlyle and TA, minority sale to Rock Mountain and Olayan

Summary

PurposeBuilt Brands, a portfolio company of The Carlyle Group (“Carlyle”) (NASDAQ: CG) and TA Associates (“TA”), has sold a minority stake to a group led by Rock Mountain Capital (“Rock Mountain”) and The Olayan Group (“Olayan”), the proceeds of which were used to redeem Carlyle’s position. Terms of the transaction were not disclosed.

Baird served as financial advisor to PurposeBuilt Brands on the transaction.

About

PurposeBuilt Brands is a high-growth portfolio of category-leading, efficacy-driven specialty cleaning and disinfection brands. PurposeBuilt creates products that can be trusted to perform optimally on people’s valued surfaces, spaces and equipment and are formulated to be better for them, their families, their businesses, and the environment. Consumer brands include Weiman, Green Gobbler, Goo Gone, Gonzo Natural Magic, biokleen, Magic, Wright’s and Stone Care International. Commercial brands include Urnex, Five Star and Opti-Cide, which are focused on the growing specialty beverage and healthcare industries. PurposeBuilt Brands is headquartered in Gurnee, Illinois.

Carlyle is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $293 billion of assets under management as of September 30, 2021, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 26 offices across five continents. Carlyle is headquartered in Washington, D.C.

TA is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – the firm invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 550 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $47.5 billion in capital since its founding in 1968. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. TA is headquartered in Boston, Massachusetts.

Rock Mountain Capital is a private equity firm founded by industry veteran David Stonehill, who brings over 25 years of experience investing in and growing middle market companies. Rock Mountain focuses on working with entrepreneurs and management teams in the consumer goods & services, technology, media & telecom (TMT), and consumer-facing healthcare services sectors to accelerate organizational development, execute on organic growth opportunities, and pursue strategic M&A and roll-up/consolidation strategies. Rock Mountain is headquartered in New York, New York.

The Olayan Group is a multinational enterprise with an actively managed portfolio of diversified global investments across all asset classes. Olayan has offices in Valduz, New York, London, Luxembourg, Vienna, Athens, Singapore and Riyadh, where its MENA investments and commercial operations are based. The Group is a private concern with single-family ownership, a multigenerational outlook, and enduring partnerships. Olayan is headquartered in Vaduz, Liechtenstein.

Consumer

PurposeBuilt Brands, a portfolio company of Carlyle and TA, minority sale to Rock Mountain and Olayan