25 Jun Moelis Capital Partners Announces Investment in Dr. Fresh
Excerpt of press release by Moelis Capital Partners
New York, June 25, 2012 – Moelis Capital Partners (MCP), the private equity business affiliated with Moelis& Company, today announced a growth investment in conjunction with the recapitalization of Dr. Fresh, a leading designer and marketer of toothbrushes, travel kits, mouthwashes, floss/flossers, breath fresheners, toothpaste and other personal care products.
Dr. Fresh markets its products under Company-owned brands including Firefly®, Binaca®, Dr. Fresh® and Orazyme® as well as leading licenses and private label programs. Dr. Fresh has offices in Buena Park, California, Slough, U.K. and Shenzhen, China, and sells its products worldwide through various food, drug and mass merchants, as well as value retailers.
Dr. Fresh has experienced rapid growth since its founding in 1998, driven by excellence in product sourcing, design and innovation. Through its partnership with MCP, Dr. Fresh plans for continued growth with a focus on its existing brand portfolio, sales & marketing driven distribution gains and its expanding international presence.
MCP Operating Partner Doug Corbett has recently joined Dr. Fresh as Chief Executive Officer. Mr. Corbett has 20 years of operating experience growing and optimizing branded businesses in the U.S., Western Europe and Canada. He was recently President of InBev USA, and earlier in his career worked for PepsiCo and Procter & Gamble Inc.
Mr. Corbett will pair his professional management and sales & marketing expertise with Dr. Fresh’s existing core competencies to further drive the growth of the business. “We are extremely excited to have a strong group of brands comprised of Firefly, Binaca, Dr. Fresh and Orazyme to invest in for the future”, he said.
The Company’s founder Dr. Nanda will continue to focus his efforts on product innovation, sourcing and will serve as Chairman of the Board. “Our partnership with MCP will ensure Dr. Fresh has the necessary resources to take the Company to the next level. We will continue to grow our impressive portfolio of brands and products always with a focus on providing customers with quality and value,” Dr. Nanda said.
Joel Killion, of Moelis Capital Partners, said, “Dr. Fresh has an excellent portfolio of brands and licenses and we look forward to working with Doug, Dr. Nanda and the Dr. Fresh team to achieve their strategic goals.”
Kaye Scholer LLP served as counsel to Moelis Capital Partners.
Atlas Advisors acted as exclusive financial advisor to Dr. Fresh in connection with this transaction.
Atlas Advisors is the marketing name for Atlas Advisors, LLC and Atlas Strategic Advisors, LLC. Atlas Strategic Advisors, LLC provides financial advisory services in connection with mergers, acquisitions and other similar transactions. Atlas Strategic Advisors, LLC is a wholly owned subsidiary of Atlas Advisors, LLC and a member of the FINRA.
None of the information contained in this release constitutes a recommendation, solicitation or offer by Atlas Strategic Advisors, LLC or its affiliates to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or service.