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GTCR Gets Brand Religion

February 18

Chicago-based private equity group GTCR Golder Rauner has recently purchased Medtech for over $225 million from the Shansby Group, another private equity firm. Medtech is one of the largest marketers and distributors of over-the-counter pharmaceutical and personal care products, generating an annual EBITDA of about $30 million.

Medtech’s brands include New-Skin® liquid bandages, Cutex® nail polish removers, Compound W® wart removers and Denorex® medicated dandruff shampoo. Headquartered in Irvington, New York, the company distributes to North American drug stores, food stores, mass merchandisers, and hospitals.

GTCR (whose principals include Phil Canfield, a presenter at our M&A Today conference held last week), manages about $6 billion of equity capital invested in a wide range of companies and industries, many of them related to IT and business outsourcing services.

In this regard, the Medtech acquisition represents an increased focus on branded consumer products businesses: the only other such company in GTCR’s portfolio now is newly formed Fairmount Food Group, which plans to acquire businesses in the branded food, branded beverage, private label and foodservice industries.

GTCR has always placed heavy emphasis on the quality of the management team operating the companies in which they invest. In this case, Medtech’s team is led by CEO Peter Mann.

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