M&A Deal Summary

Markwins International Acquires Physicians Formula Holdings

On August 15, 2012, Markwins International acquired consumer products company Physicians Formula Holdings from Mill Road Capital for 75M USD

Acquisition Highlights
  • This is Markwins International’s 2nd transaction in the Consumer Products sector.
  • This is Markwins International’s largest (disclosed) transaction.
  • This is Markwins International’s 2nd transaction in the United States.
  • This is Markwins International’s 1st transaction in California.

M&A Deal Summary
Date 2012-08-15
Target Physicians Formula Holdings
Sector Consumer Products
Buyer(s) Markwins International
Sellers(s) Mill Road Capital
Deal Type Going Private
Deal Value 75M USD
Advisor(s) Blackstone Advisory Partners (Financial)
Sheppard Mullin (Legal)

Target

Physicians Formula Holdings

Azusa, California, United States
Physicians Formula is a mass-market cosmetics company specializing in color corrective makeup.

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Buyer(S) 1

Buyer

Markwins International

City of Industry, California, United States
Category Company
Sector Consumer Products
DESCRIPTION

Markwins International Corporation is a global leader in color cosmetics, cosmetic accessories and beauty collections.

DEAL STATS #
Overall 2 of 4
Sector (Consumer Products) 2 of 4
Type (Going Private) 1 of 1
State (California) 1 of 2
Country (United States) 2 of 4
Year (2012) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-04-07 AM Cosmetics

Brooklyn, New York, United States

AM Cosmetics, Inc. manufactures cosmetic products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-29 Aspire Brands

Westlake, Ohio, United States

Aspire Brands, Inc. is a provider of lip gloss and balm under the brand of Bonne Bell and Lip Smacker. Aspire Brands was founded in 2010 and is based in Westlake, Ohio.

Buy -

Seller(S) 1

SELLER

Mill Road Capital

Greenwich, Connecticut, United States
Category Private Equity Firm
Founded 2004
PE ASSETS 250M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Mill Road Capital is a private investment firm focused on partnering with publicly traded micro-cap companies in the US and Canada. The Firm pursues a variety of strategies including open market share purchases, block trades, acquisition financing, growth financing, mezzanine financing, as well as sponsoring take privates. Sectors of interest include retail, manufacturing, business services, and consumer products. Mill Road was formed in 2004 by former Blackstone professionals. The Firm is based in Greenwich, Connecticut.

DEAL STATS #
Overall 1 of 7
Sector (Consumer Products) 1 of 1
Type (Going Private) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 5
Year (2012) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-28 NTS

Anaheim, California, United States

NTS is a provider of product qualification testing, inspection, and certification services in North America. NTS serves the full range of performance-critical industries, including the civil aviation, space, defense, nuclear, telecommunications, and medical end markets. NTS was founded in 1961 and is based in Anaheim, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-14 PRT

Victoria, British Columbia, Canada

PRT is the producer of container-grown forest seedlings in North America. Forest seedlings are used to replant forests after timber is harvested. The company has the capacity to custom grow more than 180 million seedlings per year at 13 nurseries located in Canada and the United States. It also provides a variety of ancillary services to support the reforestation needs of its customers. PRT was founded in 1988 and is based in Victoria, British Columbia.

Buy $46M
Mergr

Product

Company

Legal