San Francisco Equity Partners (SFEP), a private equity firm focused on partnering with expansion-stage companies across the consumer value chain, announced that it has acquired a majority stake in Formula Corp, a leading formulator and contract manufacturer of cleaning products. The terms of the deal were not disclosed. Formula Corp co-founders Chas Werner and Alan Gangl will continue to be shareholders of the company.
Formula is an innovative manufacturer of custom-blend cleaning products for both consumer and professional end markets. The company offers an array of turnkey services to its customers, including R&D, formulation, blending, filling, label and packaging development, regulatory services, and fulfillment.
Over decades of growth, Formula developed a specialty in formulating and manufacturing sustainable cleaning products and eco-friendly packaging solutions, in addition to private label brand support for its customers. And the company’s diverse customer base includes leading national retailers, consumer product brands, professional cleaning brands, and industrial and institutional cleaning companies. SFEP’s acquisition of Formula Corp marks the firm’s fifth platform investment into specialty manufacturing businesses serving high-growth consumer verticals.
Alexander Hutton acted as the exclusive financial advisor to Formula Corp in connection with the transaction.
KEY QUOTES:
“Formula Corp has built a great foundation for growth due to its strength in green chemistry and private label manufacturing. We chose SFEP as the company’s partner due to the firm’s successful track record in the home care and personal care space, coupled with its experience building contract manufacturing businesses in multiple categories.”
- Chas Werner and Alan Gangl, co-founders of Formula Corp
“We’re excited to partner with the Formula Corp team and to support them with our experience building best-in-class private label and contract manufacturing companies in other verticals. The company’s strengths are well aligned with long-term trends in cleaning products, and Formula Corp has become a manufacturing partner of choice to leading retailers, brands and distributors.”
- Scott Potter, Managing Partner at SFEP
