Swander Pace Capital has sold Lavo Inc, a Montréal-based maker and marketer of laundry detergent, household cleaners, fabric softeners and bleach, to KIK Custom Products Inc. No financial terms were disclosed. Lavo, which distributes and markets under owned brands La Parisienne, Hertel, Springtime, Old Dutch, Arctic Power, and ABC, was acquired by Swander Pace in 2008. KIK, a Concord, Ontario-based maker of consumer packaged goods, is owned by Centerbridge Partners.
ONTARIO, CANADA (July 6, 2017) – Swander Pace Capital, a leading private equity firm specializing in consumer products companies, has sold Lavo Inc., a leading manufacturer and marketer of laundry detergent, household cleaners, fabric softeners and bleach in Canada, to KIK Custom Products Inc.
Lavo has been selling high-quality products for more than a century. The company’s brands include La Parisienne, Hertel, Springtime, Old Dutch, Arctic Power and ABC.
“The strong heritage of these brands and world class capabilities served as the foundation of our growth strategy,” said Roger Dickhout, Chief Executive Officer of Lavo. “Our ability to leverage best practices from other Swander Pace companies, continue to build the company’s core competencies, capitalize on growth opportunities, and successfully integrate the Arctic Power and ABC brand acquisitions were critical drivers of value creation. We are pleased that KIK can help create future opportunities for the company.”
“We are grateful to the Lavo team and all of our employees for their hard work and contributions during our ownership,” said Andrew Richards, managing director of Swander Pace. “We look forward to watching the team continue to grow and flourish as part of the KIK organization.”
Sawaya Segalas & Co., LLC served as exclusive financial advisor to Lavo and Swander Pace Capital, and Stikeman Elliott LLP acted as legal counsel to Lavo and Swander Pace Capital on the transaction.
About Swander Pace Capital
Swander Pace Capital (SPC) is a private equity firm that invests in companies that are integral to consumers’ lives. SPC’s consumer industry expertise informs the firm’s strategic approach and adds value through access to its proven SPC Playbook, senior team and extensive network. The firm partners with management teams to help build companies to their full potential. SPC invests in businesses across three domains of consumer lifestyles: Food & Beverage, Body & Wellness and Home & Family. With offices in San Francisco, New Jersey and Toronto, SPC has invested in more than 45 companies and raised cumulative equity commitments of approximately $1.8 billion since 1996. For more information, visit www.spcap.com.
Lavo is the leading independent manufacturer and marketer of laundry and cleaning products in Canada. Lavo distributes and markets under owned brands La Parisienne, Hertel, Springtime, Old Dutch, Arctic Power, and ABC. These brands carry a strong reputation among Canadian consumers, and are sold in grocery stores, pharmacies, mass retailers, and warehouse clubs. Lavo is also a leading private label laundry product supplier, and markets bulk bleach to the industrial sector.