Consumer Products Acquisitions in Michigan

WellSpring Consumer Healthcare, an Avista Healthcare Partners portfolio company, has acquired the DerMend and Recticare brands from Ferndale Pharma Group. The add-on expands WellSpring’s therapeutic skincare and OTC product portfolio and strengthens its omni-channel retail and e-commerce distribution; financial terms were not disclosed.

The Riverside Company has invested in Shine (Shine Window Cleaning), which will be integrated as an add-on to Riverside portfolio company Evive Brands. Shine, a Jenison, Michigan–headquartered franchisor operating over 75 territories across 20 states, will join Evive’s home-services platform to accelerate franchise growth and expand residential and commercial exterior services.

Highland Rim Capital, a Nashville-based private equity firm, has acquired I-deal Optics, a value-segment supplier and distributor of prescription eyewear and sunwear frames. The seller was Main Street Capital Holdings, which had owned I-deal Optics since 2015; terms were not disclosed. Highland Rim will take ownership as Main Street exits its investment after nearly nine years.

Rubelmann Capital, a middle-market private equity firm, has acquired John A. Van Den Bosch Co., a fifth-generation pet products distributor and manufacturer of Nature's Window wild bird seed. David Blatte, former CEO and Chairman of Quaker Pet Group and WorldWise Inc., partnered with Rubelmann and will serve as Chairman; current CEO Joel DeBruin will remain in place.

American Outdoor Brands, a publicly traded outdoor-products company, agreed to acquire privately owned Grilla Grills for $27 million in cash (approximately $24 million after tax benefit). The acquisition gives American Outdoor Brands a direct-to-consumer barbecue brand and entry into the U.S. barbecue grill market to expand its outdoor lifestyle product category.

Generation Growth Capital, with an investment from Aldine Capital Partners and participation from former majority shareholder Tod Quiring, acquired Killer Instinct, a Frankenmuth, Michigan-based maker of crossbows and archery accessories. The private-equity backed deal will support Killer Instinct’s growth plans including product innovation, additional product lines and potential near‑term acquisitions.

Main Street Capital Holdings, LLC completed a recapitalization of its portfolio company I-deal Optics, Inc. in partnership with the company's management to provide liquidity and support continued growth. I-deal Optics is a wholesale supplier of prescription eyeglass frames with national reach and a diverse brand portfolio.

PlayMonster LLC has acquired Michigan-based Ann Williams Group, a manufacturer of craft and activity kits including brands such as Craft-tastic, Loopdedoo, Loopdeloom, Craft Crush and Sticker & Chill. The acquisition expands PlayMonster's craft and activity product portfolio and complements its existing activity brands and retail distribution relationships.

A consortium led by consumer-focused private equity firm L Catterton — including a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), Mubadala Investment Company and StepStone Group — has agreed to acquire a controlling interest in Truck Hero, Inc. CCMP Capital and Truck Hero founder/CEO Bill Reminder will remain meaningful investors. Truck Hero, headquartered in Ann Arbor, Michigan, is a leading manufacturer and marketer of branded aftermarket truck and Jeep accessories and operates the direct-to-consumer site RealTruck.com; the deal was expected to close in Q1 2021.