Levine Leichtman Capital Partners Announces the Sale of Santa Cruz Nutritionals to RoundTable Healthcare Partners
LOS ANGELES, July 29, 2013 /PRNewswire/ -- Levine Leichtman Capital Partners ("LLCP") announced today the closing of the sale of Santa Cruz Nutritionals ("SCN" or the "Company") to RoundTable Healthcare Partners ("RoundTable").
SCN, based in Santa Cruz, CA, is a leading innovator and manufacturer of gummy-based vitamins, minerals, supplements ("VMS") and other nutritional products for consumers of all ages. Through its proprietary formulations and unique manufacturing processes, SCN is able to deliver active ingredients through great-tasting, high quality chewable products. The Company has established itself as a dominant player in all of its core markets and maintains longstanding relationships with many of the leading retailers and consumer product companies in the world.
Lauren Leichtman, CEO of LLCP, said, "Our investment in SCN has been extremely successful for LLCP, our partners and the Company's management team, providing a case study of our ability to work with exceptional management teams in the middle market to help grow their businesses. SCN's growth has significantly exceeded our original expectations from when we made our investment in the Company almost three years ago. We have been thrilled to be a value-added partner to Mike Westhusing, Randy Bridges and the rest of the SCN management team and are happy that they have found the right group, in RoundTable, to support their next phase of growth." Mike Westhusing said, "LLCP has been a true partner in helping us grow the Company into an industry-leading, world-class organization over the last few years. While we're excited about our future with RoundTable, we're sad to see our partnership with LLCP come to an end."
Houlihan Lokey and BMO Capital Markets served as financial advisors to SCN in connection with the sale.
About Levine Leichtman Capital Partners
Levine Leichtman Capital Partners is a Los Angeles, California-based investment firm that manages approximately $6.5 billion of institutional investment capital through private equity partnerships, distressed debt and leveraged loan funds. LLCP is currently making new investments through Levine Leichtman Capital Partners V, L.P., Levine Leichtman Capital Partners SBIC Fund, L.P., and Levine Leichtman Capital Partners Private Capital Solutions II, L.P. Prior investments by Levine Leichtman Capital Partners include Sequel Youth and Family Services, Interdent, CiCi's Pizza, Hackney Ladish, Jon Douglas Real Estate Group and Quizno's. For more information about Levine Leichtman Capital Partners, please visit www.llcp.com.
About RoundTable Healthcare Partners
RoundTable Healthcare Partners, based in Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the healthcare industry. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. RoundTable has established a successful track record of working with owner/founders, family companies, management teams, entrepreneurs and corporate partners who share a vision and believe in the value creation potential of its partnership model. RoundTable currently manages $1.9 billion in capital, including three equity funds totaling $1.5 billion and two subordinated debt funds totaling $400 million. For more information about RoundTable Healthcare Partners, please visit www.roundtablehp.com.
SOURCE Levine Leichtman Capital Partners
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