BOSTON, MA – Audax Private Equity (“Audax”) announced that it has acquired WellSpring Consumer Healthcare (“WellSpring”). Headquartered in Sarasota, FL, WellSpring is a leading marketer of iconic over-the-counter and cosmetic brands in the skin care, feminine hygiene, and gastrointestinal care categories. WellSpring’s portfolio includes Bactine, Bonine, FDS, Emetrol, Micatin, Gelusil, Glaxal Base, Barriere, and K-Lyte. Audax acquired WellSpring from Sentinel Capital Partners, a private equity firm based in New York, NY, and from Ancor Capital Partners, a private equity firm based in Southlake, TX. Terms of the transaction were not disclosed.
Geoffrey S. Rehnert, Co-Chief Executive Officer, Audax Group, said, “WellSpring is a leader in the health and beauty care industry. We look forward to working with John Dowers and the WellSpring team to continue building a leading platform through organic growth and add-on acquisitions.”
John Dowers, President and CEO, WellSpring, said “The entire Consumer Healthcare team is very excited to be partnering with Audax for the next stage of our growth. Audax brings substantial expertise and resources that we anticipate will continue to accelerate our strategic acquisition strategy.”
Sawaya Segalas & Co. served as financial advisor, and Houlihan Lokey served as co-financial advisor to WellSpring. Ropes & Gray LLP served as legal counsel to Audax.