M&A Deal Summary

Cohere Beauty Acquires Marianna

On May 27, 2021, Cohere Beauty acquired consumer products company Marianna from Harren Equity Partners and Salem Halifax Capital Partners

Acquisition Highlights
  • This is Cohere Beauty’s 1st transaction in the Consumer Products sector.
  • This is Cohere Beauty’s 1st transaction in the United States.
  • This is Cohere Beauty’s 1st transaction in Nebraska.

M&A Deal Summary
Date 2021-05-27
Target Marianna
Sector Consumer Products
Buyer(s) Cohere Beauty
Sellers(s) Harren Equity Partners
Salem Halifax Capital Partners
Deal Type Add-on Acquisition

Target

Marianna

Omaha, Nebraska, United States
Founded in 1968, Marianna is a full-service custom manufacturer, formulator, and distributor of client-tailored hair care, hand and body products, styling aids and fixatives, hair color and dispensary products, and pet grooming products. Marianna operates a 400,000 square foot FDA-registered and cGMP-compliant facility, offering a comprehensive suite of capabilities, including research and development, packaging compatibility, preservative efficacy, and micro testing, regulatory expertise, global sourcing competency, customized kitting, and multiple distribution options.

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Buyer(S) 1

Buyer

Cohere Beauty

Phoenix, Arizona, United States
Category Company
Founded 1972
Sector Manufacturing
DESCRIPTION

Cohere Beauty is a full-service contract manufacturer, formulator, and distributor of customized hair care, skin care, fragrance, and cosmetic products. Cohere’s turnkey services include formulation, compounding, filling, quality assurance, packaging, and distribution. The company serves a diverse customer base comprised of established health & beauty companies and emerging brands. Cohere specializes in helping emerging brands accelerate speed to market through concept & formula development support. With locations in Arizona, California, Nebraska, and New Jersey, the company operates out of four FDA-registered cGMP compliant facilities with more than 800,000 sq. ft. of manufacturing space. Cohere Beauty was formed in 1972 and is based in Phoenix, Arizona.

DEAL STATS #
Overall 1 of 3
Sector (Consumer Products) 1 of 2
Type (Add-on Acquisition) 1 of 3
State (Nebraska) 1 of 1
Country (United States) 1 of 3
Year (2021) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-17 Healthspecialty

Santa Fe Springs, California, United States

Healthspecialty is a full-service contract manufacturer of skin, body, and hair care products with a focus on premium skincare applications. Healthspecialty was founded in 1995 and is based in Santa Fe Springs, California.

Buy -

Seller(S) 2

SELLER

Harren Equity Partners

Charlottesville, Virginia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 450M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Harren Equity Partners LLC is an East Coast US-based private equity firm focused on mid-sized acquisitions, recapitalizations and growth capital financings. Harren is a generalist firm and will consider companies in a broad range of industries, including aerospace/defense, automotive, business services, building materials, energy services, furniture, industrial machinery, medical products, natural resources, healthcare services, restaurants, retail, and recycling. Prospective companies typically have sales of $30 to $300 million, EBITDA of $7 to $30 million, and are located in North America. Harren prefers businesses with defensible markets positions, proven management, and strong growth potential. Harren Equity Partners LLC was formed in 2000 and is based in Charlottesville, Virginia.

DEAL STATS #
Overall 18 of 23
Sector (Consumer Products) 2 of 2
Type (Add-on Acquisition) 8 of 10
State (Nebraska) 1 of 1
Country (United States) 18 of 23
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-21 Velosio

Dublin, Ohio, United States

Velosio delivers fresh ideas and unmatched know-how for cloud, ERP, CRM, business intelligence, office automation, and other business solutions. Velosio was founded in 1991 and is based in Dublin, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 Alliance Ground International

Miami, Florida, United States

Alliance Ground International is a North American provider of specialized air cargo and ramp handling services to the aviation industry. The company provides on-airport handling, warehousing, cold storage, pallet buildup/breakdown, mail sorting, and aircraft loading and unloading services to over 80 air carrier customers from its strategic operating footprint of 33 facilities at 21 airports across the United States. Alliance Ground International is headquartered in Miami, Florida.

Sell -
SELLER

Salem Halifax Capital Partners

Marietta, Georgia, United States
Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 105M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Salem Halifax Capital Partners is a mezzanine investment firm that targets investments in traditional manufacturing, distribution, and service businesses located in the Southeast US. Salem looks to commit $2 to $10 million of junior capital in companies with predictable cash-flows and sales of $10 to $75 million. Salem Halifax was originally formed in 1999 and was known as Venture Capital Solutions from 1999 to 2004. Salem has offices in Winston-Salem, North Carolina, and Atlanta, Georgia.

DEAL STATS #
Overall 10 of 10
Sector (Consumer Products) 2 of 2
Type (Add-on Acquisition) 5 of 5
State (Nebraska) 1 of 1
Country (United States) 10 of 10
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-01 Aftermarket Performance Group

Salt Lake City, Utah, United States

Aftermarket Performance Group distributes aftermarket performance parts and accessories for diesel pickup trucks and distributes and retails direct-to-consumer online aftermarket parts for Jeep/Off-road vehicles, and Subaru/Compact-Performance vehicles and gas pickup trucks. Aftermarket Performance Group is based in Salt Lake City, Utah.

Buy -
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