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Lion crosses pond in $625m deal

Lion Capital, the former European arm of Hicks Muse Tate & Furst, today announced a deal to acquire New Jersey-based American Safety Razor from buyout firm JW Childs.

Lion Capital today announced an agreement to acquire American Safety Razor from JW Childs Associates for $625 million (€498 million).

American Safety Razor, based in Cedar Knolls, New Jersey, manufactures shaving razors and blades for consumer use.

Lion Capital is the former European arm of Dallas buyout firm HM Capital (formerly Hicks Muse Tate & Furst).

American Safety Razor, founded in 1875, had sales of $300 million last year. The company has four manufacturing sites and nine packaging locations, as well as distribution centres in North America, Europe and Asia.

The deal mark’s Lion’s first transaction in the US as an independent firm. A year ago, Lion Capital, led by Lyndon Lea, closed its debut fund on €820 million.

Lea said in a statement: “ASR’s global footprint and market leading position in a growth consumer category make it an attractive investment for Lion. We look forward to partnering with Mario Soussou and his management team to continue building value in ASR, particularly through increased investment and penetration in international markets. In an increasingly global consumer economy, ASR is Lion’s first investment in a US-headquartered business.”

JW Childs is a Boston buyout firm.