Shansby sells Medtech to GTCR

The San Francisco-based consumer products private equity specialist sells its health and beauty care products company to the Chicago private equity firm for an undisclosed amount.

San Francisco-based private equity firm The Shansby Group announced the sale of Medtech Holdings, a marketer and distributor of branded health and beauty care products, to Chicago’s GTCR Golder Rauner.

 

Terms of the deal were not disclosed, according to the statement.

 

Some of Medtech’s better known products include Compound W wart remover, Denorex dandruff shampoo, Cutex nail polish remover and New-Skin liquid bandage.

 

Shansby originally brought the company aboard its portfolio in 1996 when the firm took over 11 over-the-counter topical ointments and internal analgesic brands from American Home Products.  According to Shansby co-founder and managing director Gary Shansby, his firm took an aggressive build-up approach to the growth of the company. In June 2001, Peter Mann was hired as chief executive officer and chairman. Mann and the current management team came over from Block Drug after that company was acquired by pharmaceuticals giant GlaxoSmithKline.

 

“The timing was excellent – we had built as far as we could build without transferring this investment to our third partnership,” Shansby said. “This was a good time for GTCR to step in and take control. Medtech has a great crew of brands and a strong management team that can take on even more brands.”

Founded in 1987, The Shansby Group currently has more than $800 million in capital under management. The firm invests exclusively in branded consumer product companies. Some of Shansby’s more well-known brands include Terra Chips, Glaceau VitaminWater and Mauna Loa Macadamia Nuts. In October, the firm bought Meguiar’s, a family-owned liquid car wax producer. 

GTCR Golder Rauner manages more than $6 billion of equity capital in a broad range of companies in various sectors. The firm usually tries to partner with notable executives in a long-term growth strategy.