H.I.G. Capital, a leading global alternative investment firm with over $47 billion of equity capital under management, announced that its portfolio company, Vantage Specialty Chemicals Holdings, Inc. (Vantage), a leading, vertically-integrated provider of naturally derived ingredients, has acquired JEEN International Corporation and Botanicals Plus, Inc. (JEEN).
The combination marks an exciting new chapter in Vantage’s evolution to a solutions-oriented leader in the personal care ingredients space. JEEN is highly complementary to Vantage Personal Care’s existing comprehensive portfolio of naturally derived ingredients, including active ingredients, natural oils, and bio-based chassis ingredients.
JEEN is a leading global provider of naturally derived specialty ingredients and blends for the personal care and cosmetics markets. JEEN’s portfolio includes a diverse range of specialized active ingredients, botanical extracts, and complexes serving functional applications for skin and hair care. JEEN is an innovative leader in rapid product development and customization to support its global customer base of leading multinationals and emerging indie brands. JEEN’s owners, Adam Perle and Jeanne Perle, will join the Vantage team and remain invested in the business going forward.
“We are highly impressed with JEEN’s close customer relationships reinforced by its innovation, creativity and responsiveness,” commented Steve Doktycz, Chief Executive Officer of Vantage. “Our team has long admired JEEN’s solutions-based approach to rapidly develop tailor-made blends meeting its customers’ requirements. In addition, the acquisition of JEEN fits squarely within our strategy to expand Vantage’s capabilities in personal care and food ingredients, which now represent over two-thirds of Vantage’s business.”
Adam Perle and Jeanne Perle added: “Together, Vantage and JEEN can leverage its combined portfolio of natural specialty ingredients to bring additional solutions, speed and service to all customers. Our customers will benefit by having ready access to Vantage’s portfolio of active skin care ingredients, natural oils, and jojoba derivatives, and we look forward to augmenting Vantage’s formulation services with our rapid development capabilities.”
“JEEN is a highly complementary addition to Vantage that brings fast formulation capabilities and deep expertise in botanical extracts to Vantage’s Personal Care business,” commented Keval Patel, Managing Director at H.I.G. “We will continue to support management and the Company in investing in high-value, specialty ingredients, particularly in the personal care and food ingredient space.”
JEEN is the fifth add-on acquisition that Vantage has completed since H.I.G. acquired the Company in October 2017.
