Ranir LLC, a Grand Rapids, Mich.-based maker of oral care products, has acquired Synpart, a maker or branded and third-party oral care products, from HemCon Medical Technologies Inc. No financial terms were disclosed. Ranir shareholders include Linden LLC, Beringea and an investment vehicle led by William Blair & Co. principal Richard Kiphar.
Ranir, LLC, a leading oral care consumer products company and member of Beringea’s InvestMichigan! Growth Capital Fund portfolio, announced today that it has acquired Synpart Limited and Synpart AG from HemCon Medical Technologies, Inc. Synpart is a leading manufacturer and marketer of store brand oral care products in the European Community and a contract manufacturer for global branded oral care companies.
Along with Ranir, LLC, Synpart will become a division of Ranir Global Holdings, LLC. The combined company is now the largest store brand oral care company in the world and a significant contract supplier to global branded oral care companies. The acquisition of Synpart will allow Ranir to build a global oral care footprint, increase its product offerings, expand its expertise in oral care and enhance its supply chain partnership network.
“Teaming with Synpart will not only allow us to accelerate our growth through international expansion in important U.K. and European markets but it will also expand our oral care product line and enable us to increase our commitment to innovation to exceed the expectations of our customer partners” said Christine Henisee, CEO of Ranir, who joined the company in 2003 and has more than 30 years of consumer products experience.
Henisee added, “We expect to see oral care category growth fueled by the growing awareness of the connection between oral health and overall wellness in developed countries worldwide.”
The investment from Beringea was made through the InvestMichigan! Growth Capital Fund, a $185 million fund that provides venture and expansion-stage capital to promising emerging businesses in Michigan.
“The acquisition of Synpart puts a turbo-charge into Ranir’s already impressive rate of growth,” said Jeff Bocan, managing director at Beringea. “The company’s accelerated expansion into Europe brings an exceptional Michigan company and its innovative products to the rest of the world.”
Helmut Schlieper joins the Ranir senior management team as President of Synpart, a division of Ranir Global Holdings, LLC. Mr. Schlieper founded Synpart AG in 2004. Mike Levenstein, currently Chief Operating Officer of Synpart Limited, will lead Synpart’s contract business and direct its Asian operations.
“We are thrilled to join Ranir and be part of a company that has such a strong commitment to innovation, efficiency and high quality products. This acquisition brings added value to both companies and to our retail and contract manufacturing customers by significantly enhancing our innovation capabilities and supply chain efficiencies so we can continue to develop products that exceed customer and end consumer expectations,” said Helmut Schlieper, president of Synpart.
Current Ranir management, including Christine Henisee, Chief Executive Officer and Joe Townshend, Chief Financial Officer, will continue to lead Ranir Global Holdings, LLC.
About Synpart Ltd and Synpart AG
Synpart Ltd and Synpart AG with offices in the United Kingdom and Germany and now a division of Ranir Global Holdings, LLC distribute a range of store brand oral care products to major European retailers. Synpart also owns manufacturing locations in India and China with other production partners around the globe. Synpart has made significant progress over the past six years developing an excellent reputation with its customers as a leader in the oral care category. Its range of oral care products includes manual and power toothbrushes, dental floss, mouthwash, toothpaste and other dental accessories.
About Ranir, LLC
Ranir, LLC is headquartered in Grand Rapids, Michigan. It manufactures and markets branded and store brand consumer oral care products to leading retail and wholesale customers and branded oral care companies in North America. Led by CEO Christine Henisee, Ranir has expanded its sales platform to include serving top chain drug stores, mass merchandisers, supermarkets, wholesalers and discount retailers in North America and the United Kingdom along with some important global branded oral care companies. The company has an extensive line of consumer oral care products which includes power and manual toothbrushes, tooth whitening wraps, tooth whitening trays, dissolving tooth whitening strips, dental floss and flossers, travel kits, night protectors, and other oral care products.
Ranir, LLC is owned by Ranir Global Holdings, LLC, formerly Kayak Holdings LLC, an investment group led by Richard P. Kiphart. In addition to being a private investor, Mr. Kiphart is also a Principal and Head of the Private Client Advisory Group at William Blair & Company. Other partners in Ranir Global Holdings, LLC are Camden Holdings Inc., Linden, LLC and Beringea Invest Michigan, LLC of Michigan Growth Capital Partners GP, LP.
Beringea is the largest venture capital firm in Michigan, with more than 70 portfolio companies in the U.S. and UK. Headquartered in Farmington Hills, Mich., the firm has additional offices in London and Shanghai. Beringea has more than 20 years of investing experience in a range of sectors, including health care, clean technology, advanced manufacturing, media, Internet technologies and specialized consumer products. Among its many initiatives, Beringea is co-manager of the $185 million InvestMichigan! Growth Capital Fund, which provides venture and expansion-stage capital to emerging businesses headquartered or with substantial operations in the state of Michigan. For more information, visit www.beringea.com or www.investmichiganfund.com.