Promus Equity Partners has acquired a majority stake in Pleasant Prairie, Wisconsin-based Quest Products, a provider of consumer packaged goods and ecommerce services. In conjunction with this deal, Quest has acquired Clinere Products and its line of consumer ear-cleaning products. No financial terms were disclosed for either transaction.
CHICAGO, March 5, 2018 – Promus Equity Partners is pleased to announce the completion of a majority equity investment in Quest Products LLC alongside Quest’s management team. In conjunction with the acquisition, Quest acquired Clinere Products, LLC, and its line of leading consumer ear-cleaning products.
Based in Pleasant Prairie, Wisc., Quest provides branded consumer packaged goods and e-commerce services. It owns or controls four leading brands and multiple new, emerging products in the over-the-counter health care space. Mike Brennan, Mark McGreevy, Mark Milliman and Don Ryan lead Quest.
“We couldn’t be more excited to partner with Promus,” said Ryan, Quest’s founder . “Their involvement will help us expand our portfolio of products through internal growth and acquisition.”
Added Milliman: “Promus’ experience will help us increase the investment in our brands to the benefit of our retail partners and end customers.”
“The Quest management team has built a very impressive company, and we are honored to be part of the next stage of the company’s growth,” said Promus Partner Steve Brown. “We are eager to get to work to help build the company’s brands.”
Capstone Headwaters advised Quest Products in the transaction, while Hinshaw & Culbertson provided legal representation. Reinhart Boerner Van Deuren provided legal counsel to Promus.
Avante Mezzanine Partners provided mezzanine debt and participated in the equity investment, while MB Financial provided a senior credit facility. Terms of the investment were not disclosed.
About Promus Equity Partners
Promus Equity Partners is a private equity firm affiliated with Promus Holdings, a Chicago-based multi-family office. Promus targets healthy lower-middle-market companies with a strong value proposition and outstanding growth prospects. Promus team members are proven investors with wide-ranging experience over numerous economic cycles in a variety of industries. As a family office with a flexible investment mandate, Promus thinks creatively and allows each opportunity to guide its investment structure and duration without the constraints imposed by traditional private equity funds. Its success relies on partnering with managers and business owners to collaboratively develop plans to accelerate growth and increase value. As a family of investors, Promus shares a common vision to build a portfolio of outstanding businesses. For more information about Promus Equity Partners, contact Steve Brown at firstname.lastname@example.org or Sarah Wuellner at email@example.com.
About Quest Products
Quest Products Inc. is a multifaceted consumer packaged goods company that manufactures and manages wholly owned brands, distributes national brands, sells to retail and online stores, provides drop-ship services, and manages retail websites. Quest seeks to bring innovative, quality products to customers’ doors or retail stores. Find out more at www.questproductsinc.com.