Wind Point Partners-backed VPI Holding Co. acquired Aware Products, which works as an innovation partner to brands in the beauty industry. Aware adds a West Coast operation to the platform.
Wind Point Partners and portfolio company VPI Holding Company, LLC (“VPI”), the parent company of Vee Pak, LLC (“Vee Pak”), a fully integrated co-manufacturer of personal care products for leading industry brands, are pleased to announce the acquisition of Aware Products, LLC (“Aware”). Aware, headquartered in Los Angeles, California, is a leading value-added formulator and contract manufacturer that serves as a key innovation partner to many leading and emerging brands in the beauty industry.
The acquisition of Aware by VPI creates the opportunity to leverage both Aware’s and Vee Pak’s complementary capabilities. Aware has a long history of developing unique and transformational formulations for hair and skin care products and has a team of innovation specialists dedicated to bringing exciting new product ideas to customers. Vee Pak offers best-in-class capabilities in product transfer and scale-up for production which, together with Aware, positions both companies to service clients with new and growing product lines. Aware also introduces a West Coast operation with capabilities to efficiently manufacture in smaller run sizes.
David Stott, Managing Director with Wind Point Partners, stated, “Aware represents an ideal fit with the strategy we set out to execute in personal care manufacturing. Personal and beauty care brands are relying more heavily on innovative manufacturers who can seamlessly and efficiently deliver end-to-end supply chain solutions. Chuck and the team at Aware have developed a tangible and leverageable skillset on the front end of this process and we are excited to join forces with them.”
Chuck Greenberg, the current CEO of Aware, and the company’s entire leadership team will remain in place.
Jamie Egasti, Executive Chairman of VPI, expressed, “We are very excited to welcome Chuck and the Aware team to our platform. We look forward to exploring ways to harness what they do so well in product innovation, while we continue to invest in the systems, people and processes at Vee Pak that will drive our continued growth.”
Chuck Greenberg, Chairman and CEO of Aware Products, said, “We are very pleased the transaction with Wind Point and VPI came together. We at Aware will continue to provide the same high level of customer service, unsurpassed formulation and on-time and in-spec manufacture of products our valued customers have come to expect. With the additional support of Wind Point, we plan to devote even greater resources to our best-in-class innovation, product development and R&D core competencies, and to continue to create products that will excite and amaze customers.”
Winston & Strawn and Kirkland & Ellis served as legal counsel to VPI and Wind Point, while Aware was advised by Intrepid Investment Bankers and Scott & Salmanowitz.
About Vee Pak
Founded in 1989, Vee Pak is a fully integrated contract manufacturer of personal and beauty care products, including cosmetic and OTC-certified skin care, bath and shower, hair care and sun care products. Headquartered outside of Chicago, the Company operates an OTC-certified facility in Countryside, Illinois, a state-of-the art warehouse in Hodgkins, Illinois and a manufacturing and warehouse facility in New Albany, Ohio. Vee Pak seeks to deliver for its customers the highest quality products, leveraging its flexibility, R&D capabilities and supply chain expertise. Additional information about Vee Pak can be found at www.veepak.com.
About Aware Products
Headquartered in Los Angeles, Aware is a leading value-added manufacturer of innovative haircare, bath and body, and skin care products for fast growing and emerging brands in the beauty industry. Aware provides best-in-class product ideation, research and development and manufacturing, with a customer-centric approach to its select client base. Additional information about Aware Products can be found at www.awareproducts.com.
About Wind Point Partners
Wind Point Partners is a leading Chicago-based private equity investment firm with over $2.3 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. Additional information about Wind Point is available at www.windpointpartners.com.