U.S. private equity firm New Water Capital has acquired Trillium Health Care Products Inc, a Brockville, Ontario-based contract maker of prescription and over-the-counter products for pharmaceutical companies.
No financial terms were disclosed. The deal will see Trillium’s executive team continue to manage the company. Going forward, Jay Webb, previously Trillium’s general manager, will serve as president.
New Water Partner Jason Neimark said his firm will help identify opportunities to expand Trillium’s capacity and support its customers.
Trillium was formerly backed by Canadian private equity firm Richardson Capital. Richardson acquired a majority stake in the business in 2005.
New Water Acquires Trillium Health Care Products
BOCA RATON, Fla., Aug. 21, 2018 /PRNewswire/ — An affiliate of New Water Capital L.P., a Boca Raton-based private equity firm focused on lower-middle market companies, announced today its acquisition of Trillium Health Care Products, a premier contract manufacturer of category-leading OTC products for some of the world’s top pharmaceutical companies.
Based in Brockville, Ontario, Trillium has built a reputation in the pharmaceutical industry for its focus on quality and technical expertise in short and medium production runs across three dosage forms: liquid, solid and semi-solid. The existing Trillium executive team will continue to manage the company, with General Manager Jay Webb taking on the role of President.
“Trillium’s long-standing customer relationships and status as ‘partner of choice’ to many iconic consumer brands speaks to its impeccable quality control, stellar on-time record and excellent service,” said New Water Capital partner Jason Neimark. “We look forward to working with Jay and the Trillium team to identify opportunities to expand our capacity and support our customers in this rapidly growing sector.”
“New Water has demonstrated success with two contract manufacturing companies that have prospered under its management and operations support,” Webb said. “Our partnership with New Water will allow Trillium to invest in our facilities, capabilities and personnel to continue to service our blue-chip customer base. We think it’s a great fit.”
Lincoln International served as Trillium’s exclusive representative in the sale. New Water Capital was represented by Stikeman Elliot and Kirkland & Ellis.
Trillium is the tenth company added to the New Water portfolio since the fund closed in June 2015, and the third quality-focused and regulated contract manufacturer, joining Pegasus Foods, a leading contract manufacturer of frozen appetizers and snacks, and Custom Made Meals, a leading manufacturer of fresh, oven-ready, value-added entrees and appetizers.
About New Water Capital, L.P.
New Water Capital, L.P. is a private equity firm focused on lower-middle market companies in transition, in the consumer, retail and industrial manufacturing and services sectors, with revenues of $30 million to $300 million. New Water Capital’s collaborative transaction and operating model is built specifically to support companies in transition, building on their unique cultures and strengths. For more information, please visit www.newwatercap.com.
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