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Brynwood Partners VI L.P. to Divest High Ridge Brands Co.

GREENWICH, CT — May 16, 2016 — Brynwood Partners VIL.P. announced today that it had signed an agreement in principle to sell High Ridge Brands Co. to funds managed by Clayton, Dubilier & Rice. The transaction, which is subject to regulatory approval and valued at $415 million, is expected to close in the second quarter of 2016. Additional terms and conditions of the transaction were not disclosed.

Headquartered in Stamford, CT, High Ridge Brands Co., was formed by Brynwood Partners VI L.P. in December 2010 to purchase the Zest personal cleansing brand from Procter & Gamble and to serve as a platform for further acquisitions in the personal care consumer segment. High Ridge Brands acquired the rights to Zest in the U.S., Canada and other selected territories. Since then, the company has made five strategic add-on acquisitions acquiring: (i) the Alberto VO5 brand in the U.S. and the worldwide marketing and brand rights to the Rave brand from Unilever, (ii) the global rights to the Coast personal cleansing brand from Henkel, (iii) the White Rain brand from Sun Products, (iv) Continental Fragrances, owner of the Salon Grafix and High Beams brands and (v) several smaller personal care brands from Newhall Laboratories. The company, with approximately 45 employees, outsources 100% of its manufacturing needs.

"We are delighted to announce the sale of High Ridge Brands, the largest realization in Brynwood Partners' 32-year history, to Clayton, Dubilier & Rice," said Henk Hartong III, President and CEO of Brynwood Partners. "Clayton, Dubilier & Rice is a well-respected private investment firm with the leadership, capital and vision to take the company to the next level. Under Brynwood Partners' guidance, High Ridge Brands' management created a personal care platform with leading brands in the U.S. hair care and personal cleansing segments. The High Ridge Brands platform highlights our unique capabilities in the corporate carve out sector, having built the company through a series of acquisitions from some of the leading global consumer products companies."

"We are grateful to all the loyal employees of High Ridge Brands. We look forward to following their success under their new owner," said Ian MacTaggart, President and COO of Brynwood Partners. "We wish Clayton, Dubilier & Rice success with this outstanding company."

William Blair & Company, LLC served as the company's investment banking advisor. Holland & Knight LLP acted as legal advisor. Debevoise & Plimpton LLP acted as legal advisor and BMO Capital Markets acted as financial advisor to Clayton, Dubilier & Rice.

About Brynwood Partners:
Brynwood Partners, founded in 1984 and based in Greenwich, CT, is an operationally-focused private equity firm that makes control investments in North American-based lower middle market companies in the consumer sector.

Brynwood Partners currently manages over $725 million of private equity capital for its limited partners, which include U.S. and international pension funds, fund-of-funds, endowments, high net worth family investment offices and financial institutions. For more information on Brynwood Partners, please visit www.brynwoodpartners.com.

About High Ridge Brands Co.:
Headquartered in Stamford, CT, High Ridge Brands Co. was formed by Brynwood Partners VI L.P. in December 2010 to purchase the Zest personal cleansing brand from Procter & Gamble in the U.S., Canada and other selected territories and to serve as a platform for further acquisitions in the personal care consumer segment.

In August 2011, High Ridge Brands Co. acquired the U.S. and Puerto Rican brand and marketing rights to the Alberto VO5 brand and the worldwide marketing and brand rights to the Rave brand from Unilever. In March 2012, High Ridge Brands Co. acquired the global rights to the Coast personal cleansing brand from Henkel. In June 2012, the worldwide rights to the White Rain brand were purchased from Sun Products. In May 2015, High Ridge Brands Co. acquired the global rights to the brands of Thicker Fuller Hair and Zero Frizz from Newhall Laboratories. Most recently, in October 2015, the company acquired Continental Fragrances, owner of the Salon Grafix and High Beams brands. For more information on High Ridge Brands Co., please visit www.highridgebrands.com.

Location:
Brynwood Partners
Eight Sound Shore Dr., Suite 265
Greenwich, CT 06830
Tel: 203-622-1790

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