Insight Pharmaceuticals, a portfolio company of Swander Pace Capital, has acquired the Monistat North American brand portfolio from McNEIL-PPC Inc. Financial terms of the deal were not released. In connection with the transaction, Ontario Teachers’ Pension Plan, through its private equity group Teachers’ Private Capital, has joined Swander Pace Capital as an equity investor in Insight. HT Capital Advisors acted as exclusive financial advisor to Insight and Swander Pace Capital.
Insight Pharmaceuticals, a portfolio company of Swander Pace Capital, announced today that it has acquired the MONISTAT(R) North American brand portfolio from McNEIL-PPC, Inc. The leading brand in the vaginal antifungal category, MONISTAT(R) joins Insight Pharmaceuticals’ family of over-the-counter (OTC) women’s health and personal care products which include leading brands such as e.p.t(R) , Nix(R) , Bonine(R) , and Sucrets(R) .
The MONISTAT(R) brand was the first Rx product launched in the vaginal antifungal class in 1974 and established the category, switching to OTC status in 1991. The MONISTAT(R) brand has been the #1 doctor recommended treatment for over 30 years, the #1 pharmacist recommended brand, and is also the #1 choice of women for OTC vaginal antifungal treatment.
“The acquisition of MONISTAT(R) demonstrates our company’s increased presence in and dedication to the vital category of women’s health. This is a very important category to us and our retail partners, and is a key part of our growth strategy going forward,” says Gary R. Downing, CEO, Insight Pharmaceuticals. “This acquisition, along with e.p.t(R) , has increased our revenues by nearly four times in the last 12 months.” Additionally, as part of the e.p.t transaction, Insight acquired the URISTAT(R) urinary pain treatment brand and is preparing to re-launch the brand. “We are excited to bring the URISTAT(R) brand back to consumers. The acquisition of MONISTAT(R) and e.p.t(R) , the re-launch of URISTAT(R) , in addition to our vast portfolio, further defines our presence within OTC and the women’s health category. Women’s health is an exciting segment and we are eager to make an impact in this category.”
MONISTAT(R) will continue to be available through existing retail channels and will be marketed under Insight Pharmaceuticals growing portfolio of products.
In connection with the transaction, Ontario Teachers’ Pension Plan, through its private equity group Teachers’ Private Capital, has joined Swander Pace Capital as an equity investor in Insight Pharmaceuticals. “Along with Swander Pace Capital, Ontario Teachers’ Pension Plan gives us the financial resources necessary to consider additional acquisitions of quality healthcare brands that consumers know and trust,” says Downing.
HT Capital Advisors acted as exclusive financial advisor to Insight Pharmaceuticals and Swander Pace Capital on this transaction.
For more information about this acquisition and MONISTAT(R) , please contact Jennifer Moyer at (267) 852-0505 or JMoyer@InsightPharma.com.
About Insight Pharmaceuticals:
Insight Pharmaceuticals is a consumer products company whose strategy is to generate growth by acquiring OTC and personal care brands with solid consumer equity that can be further developed through their merchandising and marketing expertise. The company strengthens its portfolio of brands by employing a variety of strategies, all with an in-depth understanding of the heritage of the brand and the needs of the consumer. Additional information about Insight Pharmaceuticals can be found at www.InsightPharma.com.
About Swander Pace Capital:
Based in San Francisco, CA and Bedminster, NJ, Swander Pace Capital is a middle market buyout firm focused on acquiring leading manufacturers and marketers in the consumer products industry. SPC manages over $1 billion in equity capital. Additional information on Swander Pace Capital can be found at www.spcap.com.
About Ontario Teachers’ Pension Plan
With $107.5 billion in assets as of December 31, 2010, the Ontario Teachers’ Pension Plan is the largest single-profession pension plan in Canada. An independent organization, it invests the pension fund’s assets and administers the pensions of 295,000 active and retired teachers in Ontario.