White Oak Global Advisors provided a $51.5 million commitment to provide senior secured term debt financing to HRB Brands to effectuate its acquisition of a portfolio of personal care brands from Helen of Troy Limited. The acquired portfolio includes the North American operations of 12 brands, including Brut, Pert, Sure and Ammens.
HRB, a portfolio company of Tengram Capital Partners, is an independent branded personal care company in North America. It holds market positions in the hair care and skin cleansing categories. HRB’s existing portfolio includes brands such as Zest, VO5, Coast and LA Looks.
“White Oak saw this as an opportunity to partner with Tengram, one of the leading private equity groups focused exclusively on the consumer branded space, as well as with an experienced management team at HRB, led by its CEO, Jim Daniels,” Andre Hakkak, CEO of White Oak, said. “HRB management has a demonstrated history of prior success with their well-known legacy brands and adding the strong brands acquired from Helen of Troy to the portfolio only enhances the overall value of the company.”
“We are excited about the direction that Tengram and HRB management are taking the business and want to be a part of that success as their financial partner for many years to come,” Allan Marzen, managing director at White Oak, said.
“We truly appreciated the professionalism and dedication that White Oak demonstrated throughout the process of our acquiring these exciting brands,” Brian Cooper of Tengram Capital Partners said. “They rode with us through the many twists and turns of the negotiations and at the end delivered on exactly what they said they would. We look forward to working with them as we grow HRB.”
