Teachers’ Private Capital, the investment arm of Ontario Teachers’ Pension Plan, and U.S. private equity firm Swander Pace Capital have agreed to sell Insight Pharmaceuticals LLC to Prestige Brands Holdings Inc (NYSE: PBH) for US$750 million. According to Prestige Brands, the deal is expected to close later this year. Swander Pace has been a primary investor in Insight since 2009, while Teachers made its initial investment in 2011. The Trevose, Pennsylvania-based company specializes in over-the-counter health and personal care products. Canadian law firm Torys LLP is representing Teachers in the sale. Swander Pace last month agreed to sell another portfolio company, Ancaster, Ontario-based Pineridge Bakery Inc.
Ontario Teachers’ Pension Plan and Swander Pace Capital selling Insight Pharmaceuticals
TORONTO, April 25, 2014 /CNW/ – The Ontario Teachers’ Pension Plan (Teachers’) today announced, along with partner Swander Pace Capital (SPC), an agreement to sell Insight Pharmaceuticals (Insight), for US$750 million.
Insight is an over-the-counter (OTC) products company that has a portfolio of nearly 30 brands, with a strong presence in women’s health and personal care products.
Teachers’ initial investment in Insight was made in 2011 through Teachers’ Private Capital (TPC).
“Working with SPC and Insight management, we are pleased to have supported the company’s growth strategy,” said Jane Rowe, Senior Vice-President of TPC.
TPC activities include leading deals on a sole or partnered basis, investing in private equity funds in markets and sectors that it cannot efficiently access directly and co-investing with other like-minded private equity funds. TPC manages a global portfolio valued at approximately $14.8 billion.
With $140.8 billion in net assets as of December 31, 2013, the Ontario Teachers’ Pension Plan is the largest single-profession pension plan in Canada. An independent organization, it invests the pension fund’s assets and administers the defined benefit pensions of 307,000 active and retired teachers in Ontario. For more information, including our annual reports from 2013 and previous years, visit www.otpp.com. Follow us on Twitter @OtppInfo
About Swander Pace Capital
Swander Pace Capital is a leading private equity firm specializing in investments in growth-oriented, middle-market consumer products companies in North America and the United Kingdom. Since its inception in 1996, Swander Pace Capital has applied its consumer products expertise pursuing a consistent strategy of acquiring or investing in consumer products companies with leading market positions in attractive, defensible niches. With staff in San Francisco, New Jersey, and Ontario (Toronto), Swander Pace Capital provides portfolio companies with a unique mix of financial and strategic consulting support to create long-term value. Swander Pace Capital has raised over $1.3 billion of equity capital through five private equity funds and has led successful investments in more than 40 consumer companies with total revenues in excess of $2.0 billion. For more information, visit www.spcap.com.
SOURCE Ontario Teachers’ Pension Plan
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