Harvey & Company Initiates the Executive-Led Recapitalization of LiquidTek
April 5th, 2016 – After Harvey & Company’s introduction of Frontenac and an accomplished manufacturing executive in mid-2014, Frontenac has completed the acquisition of Liquid Technologies (www.liquidtek.com), a contract formulator and contract manufacturer of personal care products.
Frontenac Completes Recapitalization of Liquid Technologies
Chicago, IL – Frontenac, a leading private equity firm focused on investing in lower middle market, family-held or owner-operated businesses, has completed a recapitalization of Liquid Technologies, a contract formulator and contract manufacturer of personal care products. Financial terms of the private transaction were not disclosed.
Headquartered in Chino, California, Liquid Technologies is a contract formulator and contract manufacturer of personal care products, providing full service capabilities including formulation, development, blend manufacturing, filling and packaging. Liquid Technologies offers hair care products such as shampoos, conditioners, styling products and aerosols, in addition to skin care products such as creams, lotions and serums. The company serves both custom formulation and private label customers ranging from professional salons to established brands.
The investment is the result of Frontenac’s sourcing efforts in the personal care contract manufacturing sector. Neal Sahney, a Vice President at Frontenac said: “We are excited to make a new platform investment in an attractive, recession resistant market segment. We believe strong industry fundamentals such as consumers’ desire for premium and custom products and favorable demographic trends toward health and beauty will continue to drive demand for years to come.”
“Liquid Technologies has a variety of competitive advantages including technical and formulation capabilities as well as a customer and service centric culture,” said Ron Kuehl, Managing Director at Frontenac. “We look forward to supporting Liquid Technologies as it continues its impressive organic growth trajectory and as it begins its pursuit of strategic and complementary acquisitions.”