- Morgan Stanley was lead investor on the deal
- Joined by Rabo Investments, the investment arm of Rabobank
- Deal moves Captek out of Swander Pace Funds V and VI
Swander Pace Capital, which specializes in consumer product companies, closed a continuation fund transaction with Captek Softgel International, a vitamin, mineral and supplement soft gel manufacturer in North America.
The continuation fund acquired Captek from Swander Pace Capital Fund V and Swander Pace Capital Fund VI. Each investor from SPC Fund V and VI had the opportunity to roll over their equity stake and continue to participate as an investor. Lazard worked as secondary adviser on the deal.
Morgan Stanley was the lead investor on the deal and was joined by Rabo Investments, the investment arm of Rabobank, as well as Swander Pace reinvesting LPs and GPs. The continuation vehicle includes capital investment for organic growth initiatives and strategic acquisitions for Captek going forward.
Swander Pace will continue to seek acquisition opportunities for Captek in the Vitamins, Mineral and Supplements category.
Swander Pace Capital acquired Captek in December of 2015 and later added-on J&D Labs in July 2017.
“We are excited to continue to partner with Swander Pace Capital on this next phase of growth,” said Randy Bridges, CEO of Captek. “Our focus on operational excellence, innovation, and new acquisition potential makes this a very exciting time for Captek, and our team is ready for this next chapter.”
“Captek is a highly differentiated and strategically important asset. Since starting this investment in 2015, we have been able to drive considerable value for our investors with the strong leadership and great execution of our team members. The performance has been impressive to-date, but we believe we have a strong financial and strategic outlook ahead, and that is why we have chosen to create a new vehicle to participate in the next stage of growth at Captek,” explained Corby Reese, Managing Director at Swander Pace Capital.