An affiliate of Resilience Capital Partners, a Cleveland-based private equity firm, is to acquire the assets of the liquids division of oneCare.
This is Resilience Capital Partners' first add-on acquisition by its CR Brands platform, which it acquired in September 2012.
Headquartered in West Chester, Ohio, CR Brands operates manufacturing facilities in Spartanburg, South Carolina, and markets its products under the nationally recognised brands Mean Green, Biz, Oxydol and Pine Power.
This acquisition doubles the number of brands CR Brands now offers.
Acquired brands include the leading brand in home dry cleaning Dryel, as well as a variety of drain pipe opening solutions including Roto-Rooter and Drain Pro. CR Brands also manufactures a variety of liquid cleaning products under a contract manufactured basis.
CR Brands’ senior leadership team led by chief executive officer Rich Owen will continue to manage the company's day-to-day operations.
"In our industry, a strong pipeline of innovative products is the key to success. This acquisition really raises our game in that area – as it doubles the number of branded items we bring to the trade, and more than doubles the product development resources needed to drive innovation on those brands," says Owen.
"The combination of CR Brands and the oneCare assets result in a single company that has tremendous breadth in laundry and specialty cleaning coupled with greater manufacturing scale, deeper product development expertise, and expanded trade-reach," says Bassem Mansour, co-chief executive of Resilience Capital Partners.
