Quest Products acquires Tec Labs
Quest Products has acquired Tec Laboratories. With this merger, Quest will add the Tecnu Brand, the leading “Outdoor Itch Expert” solution for poison ivy and oak and insect bites, and the Licefreee brand, the Original Non-Toxic Head Lice Treatment to its portfolio of self-care products, which include OraCoat for Dry Mouth, Clinere for Ear Cleaning, Alocane for Emergency Burns, Enemeez mini-enemas for constipation relief, Sunburnt for after-sun skin recovery and ProVent for various First Aid Skin Conditions.
The Tecnu and Licefreee Brands have been preferred and trusted formulas assisting consumers to solve their healthcare problems for more than 35 years. The formulations utilized in these products were developed for consumers who need an immediate solution without the use of harsh chemicals or pesticides, the company said.
Michael Brennan, president and CEO of Quest Products said, "We are extremely proud to add both the Tecnu and Licefreee brands to our portfolio of category-leading brands. We are excited to partner with the Smith Family and combine two great companies into one powerful organization fostering a culture of purpose driven value, relentless innovation and continuous improvement. With the Tec Labs acquisition we add an Albany, Oregon based Manufacturing Center of Excellence that deepens our vertically integrated operation with accelerated growth. The Tec Labs Brands also will continue to expand both our Quest Medical and OTC businesses domestically and internationally."
[Read more: Focus On: Quest Products’ growing presence]
Steve Smith, chairman of the board/co-founder of Tec Labs said, "I am very proud of what the team has accomplished to build both the Tecnu and Licefreee brands into leading brands in their respective categories so consumers can solve their issues with the most effective and nontoxic solutions. My father and Co-Founder, Dr. Robert Smith, if he were alive today, would be extremely proud of what we’ve accomplished over the decades, and even more excited about the opportunity of merging these two great companies together. We have built a great company, we have helped improve lives, and I’m excited to see the Quest and Tec Laboratories, Inc. companies’ team up together to take us to new levels of success in the years to come.”
Family Business Advisers advised Tec Labs in the transaction, while Mark W. Eves from Jordan Ramis provided legal representation. Reinhart Boerner Van Deuren provided legal counsel to Quest.
[Read more: Prepared for anything]
J.P. Morgan Chase & Company provided a senior credit facility. Terms of the investment were not disclosed.