Brown Gibbons Lang & Company (BGL) announced today the sale of Waterbury Acquisition Corporation, a leading producer of environmental hygiene products, to Wind Point Partners, a private equity investment firm. BGL served as exclusive financial advisor and selling agent on the transaction.
Waterbury is the world’s leading manufacturer of proprietary products, formulas and technologies for controlling and eliminating germs, odors and pests in commercial, institutional, agricultural and other environments. The company has operations in the U.S., Canada, Europe and Asia, and serves customers in over 70 countries around the world.
Wind Point Partners acquired Waterbury from its owners, which included J O Hambro Capital Management and Mezzanine Management, two private investment companies that joined forces with Waterbury’s management to purchase the company in 1998. Since then, the company has established itself as one of the leading global providers of innovative and proprietary environmental hygiene products, nearly doubling revenue and more than doubling profitability.
Waterbury’s management also participated in the buyout with Wind Point Partners. Terms of the transaction were not disclosed.
Founded in 1812 and headquartered in its namesake Connecticut town, Waterbury is one of the oldest manufacturing companies in the U.S. It was one of the first companies to produce technologically advanced products such as time-metered automated dispensing and other touch-free products for hygiene, odor-control and pest-control.
BGL’s industry experience led Waterbury’s owners to engage BGL to sell the company. In 2003, BGL successfully managed the sale of one of Waterbury’s most prominent competitors.
“We knew how to position Waterbury to realize its full intrinsic value,” said Scott Lang, BGL senior managing director and firm co-head.
BGL targeted select strategic and financial buyers with relevant industry experience. Waterbury’s solid financial results, global presence and growth prospects attracted considerable attention from numerous potential buyers. Ultimately, Wind Point Partners made the most compelling financial and synergistic offer. Wind Point Partners is committed to growing all facets of Waterbury’s business.
“This investment is an excellent opportunity for Wind Point to partner with a top-caliber CEO and execute an exciting value creation plan that will identify areas of additional growth,” said Michael Nelson, a principal at Wind Point.
“All of our employees are very excited about the company’s momentum, and we know that our prospects will only increase with Wind Point as our new investment partner,” said Carl Contadini, Waterbury’s president and CEO. “There were multiple institutions interested in Waterbury, and I have no doubt that we ended up with the right one. Our investment bank, BGL, was a true partner in helping us analyze all of our options, and we are extremely grateful for their expert assistance.”
“We are particularly pleased that Wind Point Partners bought the company,” Lang said. “It is a premier private equity firm that truly appreciates Waterbury’s uniqueness, and throughout the transaction Wind Point Partners made clear its commitment to support Waterbury’s continued growth.”
Wind Point Partners is a private equity investment firm with offices in Chicago, Illinois, and Southfield, Michigan that manages over $1 billion in capital. Wind Point focuses on partnering with top-caliber CEOs to acquire solid middle market businesses with a clear path to value creation. Wind Point has successfully invested in more than 80 companies since 1984. Additional information about Wind Point is available at