Buyouts news debriefs with the executives at Brockway Moran & Partners, confirming that the private equity firm has signed an agreement to sell BMP/CEI Holdings Inc., the parent of Cosmetic Essence Inc., a leading provider of supply chain management services to the personal care and household products industries in a transaction valued at $245 million. The transaction will result in a more than 5.5x return on investment for Brockway Moran. The deal is expected to close in the fourth quarter of 2004.
“We recapped Cosmetic Essence in March 2001, and since that time we have had four add-on acquisitions that helped expand what we were able to offer our customers. During that time CE has more than doubled in size from a revenue perspective and increased EBITDA by 3x,” said Richard Wandoff, a Managing Director with Brockway Moran.
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