Vee Pak LLC, a portfolio company of Wind Point Partners, has acquired Cosmetic Essence Innovations LLC. Financial terms weren’t announced. Cosmetic Essence Innovations, of Holmdel, New Jersey, provides product development, specialty contract manufacturing, and outsourced service solutions to the beauty and personal care industry. Lazard Middle Market served as financial adviser to Vee Pak, while Winston & Strawn and Kirkland & Ellis acted as legal counsel to Vee Pak and Wind Point. Houlihan Lokey was financial adviser to CEI and Morrison Cohen was legal counsel.
Chicago, IL, November 14, 2018 – Wind Point Partners and portfolio company Vee Pak, LLC (“Vee Pak”), a full-service partner to the personal care and beauty industry, are pleased to announce the acquisition of Cosmetic Essence Innovations, LLC (“CEI”). CEI, headquartered in Holmdel, New Jersey, is a leading product development and full-service provider to the beauty and personal care industry with a long history of developing unique and transformative formulations for fragrance, hair care and skin care products.
Vee Pak is a leading value-added manufacturer of innovative hair care, bath and body, and skin care products to both established and fast-growing emerging brands. The acquisition of CEI will broaden Vee Pak’s product offering while also enhancing product development and innovation capabilities. Combined with CEI, Vee Pak can now offer customers expanded manufacturing capabilities through a coast-to-coast network and an international presence.
Richard McEvoy, CEO of Vee Pak, expressed, “We are very excited to welcome the CEI team to our platform. The combination is a further step in our goal of helping beauty and personal care brands grow from infancy through to maturity, and I cannot wait to bring the full breadth of our capabilities to our customers.”
David Stott, Managing Director with Wind Point Partners, stated, “CEI significantly strengthens Vee Pak’s strategic position in the marketplace. Personal and beauty care brands continue to value manufacturing partners that bring new and exciting innovation concepts to the table and act as an extension of their supply chain.”
Peter Martin, CEO of CEI, remarked, “I’m thrilled as the Vee Pak team is the ideal partner for our business given similar philosophies and strategies. I’m confident that Vee Pak will continue to provide world-class service to our existing customers and provide a bright future for our employees.”
Lazard Middle Market served as financial advisor to Vee Pak. Winston & Strawn and Kirkland & Ellis served as legal counsel to Vee Pak and Wind Point. Houlihan Lokey and Morrison Cohen served as financial advisor and legal counsel, respectively, for CEI.
About Vee Pak
Founded in 1989, Vee Pak is a full-service partner to the personal care and beauty industry, offering cosmetic and OTC-certified skin care, bath and shower, hair care and sun care products. Headquartered outside of Chicago, Vee Pak operates an OTC-certified facility in Countryside, Illinois, a state-of-the-art warehouse in Hodgkins, Illinois, and manufacturing and warehouse facilities in New Albany, Ohio, and Chatsworth, California.
Additional information about Vee Pak can be found at www.veepak.com.
About Cosmetic Essence Innovations
Founded in 1984, Cosmetic Essence Innovations is a leading provider of product development, specialty contract manufacturing, and outsourced service solutions serving as a strategic partner to many of the largest and best-known brands in the beauty and personal care industry. Headquartered in Holmdel, New Jersey, CEI operates US production facilities in New Jersey, Pennsylvania, and Virginia. Cosmetics Essence Innovations also serves European customers through its production facility in Stryków, Poland. CEI has an expertise in fragrance, skin care, hair care and active color cosmetics.
Additional information about Cosmetic Essence Innovations can be found at www.cosmeticessence.com.
About Wind Point Partners
Wind Point Partners is a Chicago-based private equity investment firm with approximately $2 billion in assets under management. Wind Point focuses on partnering with top caliber management teams to acquire well-positioned middle market businesses where it can establish a clear path to value creation. The firm targets investments in the consumer products, industrial products, and business services sectors. Wind Point is currently investing out of Wind Point Partners VIII, a $985 million fund that was initiated in 2016.