Quest Products, a provider of healthcare products and solutions and portfolio company of Promus Equity Partners, acquired Tec Laboratories, which provides treatment solutions for poison ivy, posting oak, insect bites and lice through its Tecnu and Licefree brands.
Family Business Advisers advised Tec Labs in the transaction, while Mark W. Eves from Jordan Ramis provided legal representation. Reinhart Boerner Van Deuren provided legal counsel to Quest.
JPMorgan Chase provided a senior credit facility in connection with the acquisition, but terms of the investment were not disclosed.
“We are extremely proud to add both the Tecnu and Licefreee brands to our portfolio of category-leading brands,” Michael J. Brennan, president and CEO of Quest Products, said. “We are excited to partner with the Smith family and combine two great companies into one powerful organization fostering a culture of purpose-driven value, relentless innovation and continuous improvement. With the Tec Labs acquisition we add an Albany, OR-based manufacturing center of excellence that deepens our vertically integrated operation with accelerated growth. The Tec Labs brands will also continue to expand both our Quest Medical and OTC businesses domestically and internationally.”
“I am very proud of what the team has accomplished to build both the Tecnu and Licefreee brands into leading brands in their respective categories so consumers can solve their issues with the most effective and non-toxic solutions,” Steve Smith, chairman of the board and co-founder of Tec Labs said. “My father and co-founder, Dr. Robert Smith, if he were alive today, would be extremely proud of what we’ve accomplished over the decades and even more excited about the opportunity of merging these two great companies together. We have built a great company, we have helped improve lives and I’m excited to see the Quest and Tec Laboratories, Inc. companies’ team up together to take us to new levels of success in the years to come.”
