Consumer Products Acquisitions in Georgia

New Directions Aromatics, a TruArc Partners portfolio company, has combined with Aromatic Fragrances International to create an e-commerce-enabled specialty ingredients and fragrance platform. The deal expands New Directions' U.S. footprint and brings complementary formulation, manufacturing, and digital ordering capabilities to serve beauty, personal care, home fragrance and other consumer brands.

Tommie Copper, a Tengram Capital portfolio company, has acquired Freeze Sleeve, a maker of gel cooling cold-therapy sleeves for at-home use. The acquisition expands Tommie Copper's pain-management product portfolio and integrates Freeze Sleeve's cold-therapy technology into its direct-to-consumer and retail channels; terms were not disclosed.

Encore Consumer Capital has made a significant minority equity investment in clean beauty brand LYS Beauty to fund product innovation, inventory expansion, strategic hires, and global marketing as the brand scales. Founder and CEO Tisha Thompson will retain majority ownership as LYS prepares to expand distribution, including a Sephora at Kohl's launch across 800+ stores.

Recochem has acquired KIK Consumer Products’ Auto Care business, which comprises the Prestone brand in North America and Holts in the United Kingdom. The transaction creates a larger global automotive solutions group combining Recochem, Prestone and Holts to expand geographic reach, scale manufacturing and broaden product offerings; terms were not disclosed.

Compass Diversified (CODI) completed a partnership to acquire a majority stake in The Honey Pot Company for an enterprise value of $380 million. The Honey Pot's co-founders and management retain a significant minority stake and CEO Beatrice Dixon will remain in her role as the company pursues expanded distribution and new product categories.

National Tree Company, a portfolio company of Sun Capital Partners, has acquired Scentsicles, an Atlanta-based market leader in scented seasonal ornaments. The acquisition adds a branded scented-ornament offering to National Tree’s holiday décor portfolio; Woodbridge International advised Scentsicles on the sale.

Phoenix Flavors and Fragrances has acquired Innovative Fragrances Inc., an Atlanta-area developer and compounder of fragrance compounds serving home fragrance, personal care, candles and air freshener markets. The deal expands Phoenix's geographic footprint in the Southeast United States and strengthens its perfumery, regulatory and technical capabilities.

Gawah Holdings Inc., a multi-industry investment holding company focused on the MENA region, has taken a strategic equity stake in Maskarade LLC, a U.S.-based health-fashion mask brand founded by Andraya deCo'rdova (Draya Blanco). The investment is intended to provide growth capital and strategic partnership support as Maskarade expands its health-fashion product line and explores integration of wearable technology.

Blackstone (through its Blackstone Growth and Tactical Opportunities businesses) agreed to acquire a majority stake in SPANX, Inc. at a $1.2 billion valuation, with founder Sara Blakely retaining a significant equity stake and becoming Executive Chairwoman. The investment is intended to accelerate SPANX's digital transformation, expand its global footprint, and support product and category growth across e-commerce and retail channels.

Rhône, a global private equity firm, agreed to make a significant equity investment in Wahoo Fitness, with Wahoo founder Chip Hawkins and the management team reinvesting alongside Rhône. Norwest Equity Partners will remain a minority investor; the deal aims to support Wahoo's global expansion and growth of its connected-fitness hardware, software and content offerings.

Des Moines-based private investor Summit Equity Group acquired Enviro-Log, Inc. and Enviro-Log Home Products, Inc., consolidating the businesses as Enviro-Log Company LLC. The acquisition (terms undisclosed) will position the company to accelerate geographic expansion and product-line growth for its eco-friendly manufactured firelogs, firestarters and packaged firewood sold through major North American retailers.

Norwest Equity Partners (NEP) made a significant growth investment in recteq, a designer, marketer and direct-to-consumer seller of premium pellet grills, closing on January 29, 2021. The investment will support recteq's product, channel and geographic expansion while partnering with founders Ron Cundy and Ray Carnes; financial terms were not disclosed.

AEA Investors' Small Business Fund (AEA SBF) has completed the acquisition of 50 Floor, Inc., a direct-to-consumer, shop-at-home flooring company serving the residential repair and remodel market. AEA SBF plans to back the company's growth and transformation across its existing markets and expand its direct-to-consumer flooring platform.

Innovatus Capital Partners formed Certor Sports and, through its subsidiaries, acquired substantially all of Kranos Corporation's assets, intellectual property and brands — including Schutt, ProGear, Tucci Bats, Hollywood Bases and Adams USA. The deal consolidates multiple sporting-goods brands under Certor Sports (which had earlier acquired VICIS assets), preserving warranties and service relationships while positioning the platform for product and market expansion.

SteelSeries has acquired KontrolFreek, a leading maker of high-performance controller accessories, to strengthen its position in the console gaming market and expand its controller and accessory product offering. KontrolFreek will operate as a wholly owned subsidiary, bringing its product lines and community of more than four million gamers to SteelSeries' global distribution and R&D capabilities.

CORSAIR Components, Inc. agreed to acquire SCUF Gaming, a designer and manufacturer of high-performance, customizable gaming controllers, from H.I.G. Growth Partners. SCUF, headquartered in the Atlanta area, will operate as a separate brand within the CORSAIR family to expand CORSAIR's portfolio of premium gaming peripherals.

Wilson Sporting Goods Co., a subsidiary of Amer Sports, acquired the EvoShield brand, including products, intellectual property and distribution rights, from EvoShield, LLC. The selective asset acquisition expands Wilson’s baseball and softball product portfolio by adding EvoShield’s protective-gear technology and brand.