CHS Completes Equity Investment in Woodstream Corporation
Code Hennessy & Simmons LLC (“CHS”) announced that it has completed an equity investment in Woodstream Corporation (“Woodstream”). The transaction represents a partnership between CHS, Florida-based private equity firm Brockway Moran & Partners and Woodstream’s senior management. Funds for CHS’ investment in Woodstream come from CHS Private Equity V LP, a $1.3 billion investment fund formed in 2005.
Woodstream, headquartered in Lititz, Pennsylvania, markets and manufacturers a broad portfolio of leading, branded consumer products in four segments, which include natural solutions for pest control, wild bird feeding, caring control for pets and wildlife, and rodent control. Woodstream’s products are sold under the Victor®, Havahart®, Safer® and Perky Pet® brand names among a multitude of others. Woodstream’s products are sold at more than 100,000 retail locations throughout the United States, Canada and other international markets, including do-it-yourself home centers, mass merchandisers, hardware stores, lawn and garden retailers and farm-agricultural stores. Woodstream currently operates three primary manufacturing facilities and five distribution centers which allow the company to serve its customers with industry-leading service levels. For additional information about Woodstream, please refer to the company’s website at www.woodstream.com.
Harry Whaley, President and CEO of Woodstream, said, “CHS has an impressive track record of growing middle market companies. The resources and consumer-specific expertise they bring to Woodstream will be assets to our growth plans. With the strong leadership of our senior management team and the experience of Brockway Moran and CHS, we are partnered with firms with whom we can continue our strong growth trajectory.”
Andy Code, Partner at CHS, said, “We look forward to partnering with Brockway Moran & Partners and Woodstream’s management team to implement the company’s growth strategy. Woodstream’s highly diversified product offering, customer base and distribution channels make the company a natural fit with previous CHS experience. With continued organic growth through product innovation and complementary acquisitions, we are eager to build upon Woodstream’s industry-leading position.”
The investment in Woodstream complements CHS’ portfolio of investments in the consumer products category, which have included The Hillman Companies, Inc., a distributor of fasteners, key blanks, signage and other small hardware components; Otis Spunkmeyer, Inc., a leading manufacturer and distributor of frozen cookie dough and sweet baked goods; Omega Cabinets Ltd., Inc., a manufacturer of kitchen and bath cabinets; Swing-N-Slide Corp., a manufacturer of residential swing sets; National Picture & Frame Co., a manufacturer of picture frames, framed art and mirrors; and Woods Equipment Company, a manufacturer of tractor-mounted attachments.
CHS is a Chicago-based private equity firm specializing in private equity investments and recapitalizations of middle market companies in partnership with management. CHS has formed five private equity funds and currently manages over $2.5 billion of capital. For additional information about CHS, please refer to the firm’s website at www.chsonline.com. |