Audax Private Equity (Audax) has completed the sale of WellSpring Consumer Healthcare (WellSpring) to Avista Capital Partners.
Established in 1999 and headquartered in Sarasota, Florida, WellSpring is a marketer of over-the-counter brands primarily in the skin care and gastrointestinal care categories. WellSpring’s product portfolio includes long-standing brands such as Bactine, Bonine, Emetrol, Glaxal Base, FDS, Micatin, Gelusil, Barriere, and K-Lyte. The Company sells to retailers and consumers through a network of distribution partners and direct salespeople.
Since being acquired by Audax in 2017, WellSpring has undergone a period of transformation and growth, including expansion of the company’s product offerings in high-growth categories, bolstering R&D capabilities in-house and broadening network of innovation partners, driving significant growth across retail and e-commerce channels with industry-leading sales and marketing efforts.
CG Sawaya Partners served as financial advisor and Ropes & Gray served as legal advisor to WellSpring.
