CITIC Capital and Humanwell have agreed to acquire Ansell’s condoms unit. No financial terms were disclosed. The deal is expected to close before the end of this year. Ropes & Gray LLP provided counsel to CITIC Capital on the transaction.
(Hong Kong, 26 May 2017) CITIC Capital China Partners III, L.P., a buyout fund managed by the private equity arm of CITIC Capital Holdings Limited (“CITIC Capital”), is pleased to announce it has entered into a binding agreement together with Humanwell Healthcare(Group) Co., Ltd. (“Humanwell” and collectively, the “Buyer Consortium”) to acquire the Sexual Wellness business unit (“SW”) of Ansell Limited (ASX: ANN, or “Ansell”) on 24 May 2017.
Ansell is a global leader in sexual wellness sector. It has the second largest market share in condom market owning a broad range of leading latex condom brands in their respective markets including: LifeStyles, Jissbon, Zero, MANIX and Blowtex as well as the fast growing innovative non-latex condom brand SKYN. The acquired SW business include Ansell’s condom, lubricant and devices business and manufacturing sites. The transaction is subject to regulatory approvals and is expected to complete before the end of 2017.
Hanxi ZHAO, Senior Managing Director of CITIC Capital, said: “We are very excited to partner with Humanwell to acquire the sexual wellness business from Ansell. Brands such as SKYN, LifeStyles, Jissbon, Zero, MANIX and Blowtex have been known for years with a strong presence in both mature and emerging markets. With the synergistic support of Humanwell and CITIC Capital, we believe that the acquired business is well positioned for further growth to capitalize on the growing trend toward better sexual care globally and in particular, China. We are committed to working with the management team to accelerate its next stage of growth.”
Nomura advised the Buyer Consortium. King & Wood Mallesons served as counsel to the Buyer Consortium and Ropes & Gray LLP served as counsel to CITIC Capital. China Merchant Bank provided Buyer Consortium financing.
About CITIC Capital
Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over USD20 billion of capital from a diverse group of international institutional investors. Core businesses include Private Equity, Real Estate, Structured Investment & Finance, and Asset Management. CITIC Capital currently employs over 250 staff members throughout its offices in Hong Kong, Shanghai, Beijing, Shenzhen, Tokyo and New York. For more information, please visit www.citiccapital.com
Founded in 1993 and headquartered in China, Humanwell Healthcare (Group) Co., Ltd. is a fully integrated healthcare solution provider in Asia Pacific, North America, Europe and Africa and is listed on the Shanghai Stock Exchange (SHA:600079) and has a market capitalization of USD3.9 billion. For more information, please visit www.humanwell.com.cn
About Ansell SW Business
The SW business is the global leading condom player worldwide with strong presence in stable mature markets (Europe, North America and Australia) as well as in emerging markets driving growth (China, Latin America and Africa). The SW business has a powerful combination of local heritage and global innovative brands. SKYN is the leading fast growing non-latex condom brand, and SW’s core latex brands, such as LifeStyles, Jissbon, Zero, MANIX and Blowtex, have 120 collective years of history, deeply rooted in each local market globally. For more information, please visit www.ansell.com/en/About/Global-Business- Units/Sexual-Wellness-Solutions
Ansell is a world leader in providing superior health and safety protection solutions with operations in North America, Latin America/Caribbean, EMEA and Asia. Ansell operates in four main business segments: Industrial, Medical, Single Use and Sexual Wellness. For more information, please visit www.ansell.com