- Wellspring was founded in 1999 in Sarasota Florida
- Brands in the Wellspring portfolio include Bactine, Emetrol and Glaxal Base
Avista invests in healthcare businesses
Avista Capital Partners has acquired WellSpring Consumer Healthcare, a provider of over-the-counter and personal care brands. The seller was Audax Private Equity. No financial terms were disclosed.
Wellspring was founded in 1999 in Sarasota, Florida. Key brands in the WellSpring portfolio include Bactine (first aid), Bonine (motion sickness), Emetrol (anti-nausea), and Glaxal Base (therapeutic skincare).
Alex Yu, a partner at Avista, said, in a statement: “Our acquisition of WellSpring represents another compelling opportunity for Avista to invest in the highly attractive consumer healthcare sector, following our recent success with Arcadia Consumer Healthcare. We are excited to partner with Chris Brown and the WellSpring team, and leverage our industry experience, operational expertise and financial resources to help accelerate WellSpring’s growth with investments in innovation, market expansion, and strategic acquisitions. The diversified and highly-established nature of WellSpring’s product portfolio, coupled with a strong innovation pipeline and exciting growth opportunities in e-commerce, provides an excellent foundation.”
Founded in 2005, Avista Capital is a New York-based private equity firm with over $8 billion invested in more than 40 growth-oriented healthcare businesses globally.