Press release from PR Newswire
American Securities Completes Sale of Healthy Directions to Helen of Troy for $195 Million
Tuesday, July 01, 2014
American Securities Completes Sale of Healthy Directions to Helen of Troy for $195 Million08:00 EDT Tuesday, July 01, 2014
NEW YORK, July 1, 2014 /PRNewswire/ -- American Securities LLC, a New York-based private equity firm, today announced that it has completed the sale of Healthy Directions, LLC to Helen of Troy Limited for approximately $195 million. Helen of Troy is publicly traded on the NASDAQ (Ticker: HELE), and is a designer, developer and worldwide marketer of brand-name housewares, healthcare/home environment and personal care consumer products.
Healthy Directions was acquired by American Securities in August 2004. The Company is a leading direct-to-consumer retailer of doctor-formulated nutritional supplements and skincare products. Healthy Directions provides expert guidance and advanced nutritional supplements from some of America's most knowledgeable and highly respected integrative- and alternative-health doctors.
David L. Horing, Managing Director at American Securities, said, "Our partnership with Connie Hallquist and the rest of the Healthy Directions management team has been fruitful." Kevin S. Penn, Managing Director at American Securities, added, "We have worked together to expand Healthy Directions' doctor brands and ensure strong customer retention."
Connie Hallquist, CEO of Healthy Directions, stated, "Helen of Troy is an excellent long-term home for Healthy Directions. We have had a terrific partnership with American Securities and appreciate their support in helping us advance to new levels. We look forward to continuing to grow our business and serve our customers under this new ownership and partnership with Helen of Troy."
Kaye Scholer LLP acted as legal advisor and Houlihan Lokey acted as exclusive financial advisor to American Securities and Healthy Directions.
About Healthy Directions, LLCHealthy Directions, LLC, a leading health publisher and direct-to-consumer retailer of doctor-formulated nutritional supplements and skincare products, is dedicated to helping people lead healthier, happier lives. Healthy Directions provides expert guidance and advanced nutritional supplements from some of America's most knowledgeable and highly respected integrative- and alternative-health doctors including Julian Whitaker, MD, Dr. David Williams, Stephen Sinatra, MD, Susan Lark, MD, Aaron Tabor, MD, Richard Wurtman, MD, and Joseph Pergolizzi, Jr., MD. More information about Healthy Directions can be found at www.healthydirections.com.
About American Securities LLCBased in New York with an office in Shanghai, American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $500 million to $2 billion. American Securities and its affiliates have more than $10 billion under management. American Securities is currently investing from its sixth fund. The firm traces its roots to a family office founded in 1947 to invest and manage a share of the fortune created from the growth of Sears, Roebuck & Co in the early 1900s. More information about American Securities can be found at www.american-securities.com.
SOURCE American Securities LLC
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