Private equity firm Summit Partners is considering a sale of Los Angeles-based portfolio company and men’s grooming and personal care brand Dr Squatch at an expected value of more than $2bn, according to a report by Reuters.
The report cites unnamed people familiar with the matter as confirming that Summit Partners is working with investment banks Raymond James and Centerview Partners to gauge interest from potential buyers.
Dr Squatch, which sells deodorant, hair care products, colognes, lotions and other personal care products through its website and stores including Walmart and Target. currently generates 12-month earnings before interest, taxes, depreciation and amortisation (EBITDA) of about $90 million and is growing rapidly, according to Reuters’s sources.
