CITIC Capital and Humanwell have closed its previously announced acquisition of Ansell’s condoms unit. No financial terms were disclosed. Nomura advised the buyers while China Merchant Bank provided them with the financing. King & Wood Mallesons served as counsel to the buyers while Ropes & Gray LLP did likewise for CITIC Capital.
(Hong Kong, 4 September 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 that it has completed the acquisition of Sexual Wellness business unit (“SW”) of Ansell Limited (ASX: ANN, or “Ansell”) on 1 September 2017, together with Humanwell Healthcare (Group) Co., Ltd. (“Humanwell” and collectively, the “Buyer Consortium”). The acquired Sexual Wellness business will now become an independent company, Lifestyles Holdco Pte. Ltd. (“LifeStyles”).
The newly formed LifeStyles is a global leader in sexual wellness sector, possessing a broad product range including condom, lubricant and other related products. In particular, it has the second largest market share in condom market with leading latex condom brands in their respective markets including: LifeStyles, Jissbon, MANIX, Unimil, Blowtex, etc., as well as the fast growing innovative non-latex condom global brand SKYN.
Xuehai WANG, Chairman of Humanwell, said: “We are pleased to have completed the acquisition of a suite of successful global brands in sexual wellness sector. Humanwell has a long history and experience in the sexual wellness sector. Together with CITIC Capital and the management team, we are confident that we will unlock the potential of these brands, and achieve faster growth, both in China and globally.”
Hanxi ZHAO, Senior Managing Director of CITIC Capital, said: “The business we acquired already has a very strong position globally, with ample room for growth. We look forward to working together with Humanwell and the management team to further strengthen the company’s leadership position in the sexual wellness space.”
Jeyan HEPER, CEO of LifeStyles, remarked: “With the support from Humanwell and CITIC Capital, the management team is fully committed to continuing to build our brands, better serve our consumers, and drive growth in each of the markets that we are in.”
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 USD21 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 more than USD3.5 billion. For more information, please visit www.humanwell.com
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, MANIX, Unimil 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-BusinessUnits/Sexual-Wellness-Solutions
Ansell is a world leader in providing superior health and safety protection solutions that enhance human well-being. The world’s need for better protection never stops, so Ansell is constantly researching, developing and investing to stay on the cutting edge of product innovation and new technologies.
Operating in two main business segments, Industrial and Healthcare, Ansell is a market leader that continues to grow, employing 14,000 people worldwide. With operations in North America, Latin America/Caribbean, EMEA and Asia Pacific, customers in 100 countries around the world trust Ansell and its protection solutions. Information on Ansell and its products can be found at www.ansell.com