New Water Capital Sells Trillium Health Care Products To Avista Healthcare Partners

Marks Another Successful Exit for New Water's Inaugural Fund

BOCA RATON, Fla., Aug. 7, 2024 /PRNewswire/ -- New Water Capital (New Water) announced today the completion of the sale of Trillium Health Care Products (Trillium), a leading contract development and manufacturing organization (CDMO) of branded over-the-counter (OTC) products in North America, to Avista Healthcare Partners (Avista). Transaction terms were not disclosed.

Based in Brockville, Ontario, Trillium is a trusted partner to leading North American and global consumer healthcare and pharmaceutical companies. Trillium is a differentiated development and manufacturing partner given its OTC specialization, technical expertise, formulation capabilities, and 30-plus year track record for quality, service, and regulatory compliance. The company offers broad development and manufacturing capabilities across liquid, semi-solid, and solid dosage forms, with extensive experience in the largest therapeutic categories, such as cough and cold, dermatology, gastrointestinal, allergy, and dietary supplements.

"New Water worked with management over our investment period to transform Trillium into a best-in-class, full-service CDMO with an outstanding reputation in the industry," said Jason Neimark, Managing Partner at New Water. "We appreciate all the hard work and investment by the New Water and Trillium teams to position Trillium for rapid future growth." 

Nathan Douglas, Vice President at New Water stated, "Trillium's strong culture and expertise, dedication to quality, and diversified blue-chip customer base form an excellent foundation for Avista and the Trillium management team as they enter the next chapter of the company's growth."

"New Water has been a transformational partner for Trillium," remarked Joe Ruffo, CEO of Trillium. "The support and significant investment New Water provided Trillium has set us apart from our competition. We see significant market opportunities and are excited for our next phase of growth with Avista, a growth-oriented partner with sector expertise in consumer healthcare."

Trillium was New Water's sixth investment in its inaugural fund and marks another successful exit representing New Water's strategy of partnering with businesses in transition to transform them into leading platforms in their categories. New Water is currently investing out of its second fund and continues to seek companies across consumer and industrial end markets undergoing periods of transition, whether that is operationally inspired, succession planning oriented, or growth driven.

Piper Sandler & Co. served as the exclusive financial advisor to Trillium and Stikeman Elliott served as legal advisor to Trillium.

About New Water Capital L.P.
New Water Capital L.P. is a private equity firm focused on lower-middle market companies in the consumer products and industrial manufacturing and services sectors with revenues of $30 million to $300 million. New Water Capital's collaborative transaction and operating model is built specifically to support companies in transition, building on their unique cultures and strengths. For more information, please visit www.newwatercap.com or follow New Water on LinkedIn.

SOURCE New Water Capital, L.P.