Centre Partners Management has sold Quickie Manufacturing Corp. to Jarden Corp. Financial terms were not disclosed. Cinnamsinson, N.J.-based Quickie provides housecleaning tools like brooms, mops and dustpans. Centre Partners, with offices in New York and Los Angeles, is a PE firm. Sawaya Segalas & Co. advised Quickie in the sale.
Centre Partners Management LLC (“Centre Partners”), a leading middle market private equity firm with offices in New York and Los Angeles, today announced the sale of Quickie Manufacturing Corporation (“Quickie” or the “Company”) to Jarden Corporation (“Jarden”; NYSE: JAH), a leading global provider of niche consumer products. Quickie is a leading manufacturer and supplier of conventional household cleaning tools in retail channels in North America. Terms of the transaction were not disclosed.
According to Centre Partners Managing Partner David Jaffe, Centre Partners and certain of its affiliates made a strategic investment in Quickie in December 2004, partnering with Quickie’s executive owners, including Chairman Peter Vosbikian Jr., to position the Company for a new phase of growth.
Established in 1919 by Peter Sr., the father of the Company’s current Chairman, and his brother, Thomas Vosbikian, Quickie has built a longstanding track record of category leadership, product innovation and dedication to customer service over ninety years. Today, Quickie produces and distributes a complete line of conventional household cleaning tools including mops, brooms, brushes, dusting tools and related accessories, and is a leader in its markets. With headquarters in New Jersey, Quickie also operates production facilities in Lumberton, North Carolina, El Paso, Texas, and Cadereyta, Mexico.
Quickie Chairman Peter Vosbikian Jr. said, “Our partnership with Centre represented a key step in Quickie’s evolution. Their expertise and support have been instrumental in facilitating Quickie’s growth and innovation over the last five years and have enabled the Company to reach its current inflection point and begin its next growth phase under Jarden’s ownership.”
Quickie President and Chief Executive Officer, Michael Magerman added, “Quickie has continued to build on its legacy of growth and innovation with the help of Centre Partners and the guidance of the Vosbikian family, and today is experiencing significant momentum as a result. Quickie’s current management and employees will continue to manage the operations and are excited to build on recent momentum with the support and resources of a leading global consumer company like Jarden behind us. ”
David Jaffe said, “This transaction concludes a highly successful investment for Centre Partners and validates our strategy of supporting the growth of leading middle market companies with proven management teams, strong brands, and solid operations. We credit the leadership of Quickie’s talented management team and employees, and are pleased they will have the opportunity to continue building the Quickie franchise with Jarden.”
Sawaya Segalas & Co., LLC* acted as exclusive financial advisor to Quickie in connection with the transaction.
*Securities offered through Sawaya Segalas Securities, LLC.