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NEW YORK – (BUSINESS WIRE) – White Oak Global Advisors (“White Oak”) is pleased to announce that it has provided a commitment of $ 51.5 million to provide secured term debt financing of ranked first at HRB Brands LLC (“HRB”) to complete their acquisition of a portfolio of personal care brands from Helen of Troy Limited (Nasdaq: HELE). The acquired portfolio includes the North American operations of 12 iconic and well-known brands such as Brut, Pert, Sure and Ammens.
HRB, a holding company of Tengram Capital Partners (“Tengram”), is one of the largest independent branded personal care companies in North America. It holds market leading positions in the hair care and skin cleansing categories, selling primarily to the Mass and Dollar channels. HRB’s existing portfolio includes iconic brands such as Zest, VO5, Coast and LA Looks.
Andre Hakkak, CEO of White Oak commented, “White Oak saw this as an opportunity to partner with Tengram, one of the leading private equity groups focused exclusively on the consumer brand space, as well as with an experienced management team at HRB, led by its CEO Jim Daniels. HRB management has a demonstrated history of previous success with their well-known traditional brands and adding the strong brands acquired from Helen of Troy to the portfolio only enhances the overall value of the company.
Allan Marzen, Managing Director of White Oak, added: “We are excited about the direction Tengram and the management of HRB are taking for the company and look forward to being a part of this success as a financial partner for many years to come.
“We have truly appreciated the professionalism and dedication White Oak has shown throughout the process of acquiring these exciting brands,” said Brian Cooper of Tengram. “They rode with us through the many twists and turns of the negotiations and in the end held up exactly what they said they would do. We look forward to working with them as we develop HRB! ”
About White Oak Global Advisors
White Oak Global Advisors, LLC (“WOGA”) is a leading alternative debt manager specializing in the creation and delivery of financing solutions to facilitate the growth, refinancing and recapitalization of small and medium-sized businesses. Together with its financing subsidiaries, WOGA provides more than twenty market loan products, including term, asset and equipment loans, to all sectors of the economy. Since its inception in 2007, WOGA and its affiliates have deployed more than $ 10 billion across its product lines, using a disciplined investment process that focuses on delivering risk-adjusted returns on investment to investors while establishing long-term partnerships with our borrowers. More information can be found at www.whiteoaksf.com.
Prosek Partners (on behalf of White Oak Global Advisors)
Source: White Oak Global Advisors, LLC