Centre Partners Announces Successful Realization of Investment in Quickie Manufacturing Corporation
According to Centre Partners Managing Partner David Jaffe, Centre Partners and certain of its affiliates made a strategic investment in Quickie in December 2004, partnering with Quickie’s executive owners including Chairman Peter Vosbikian Jr., to position the Company for a new phase of growth.
Established in 1919 by Peter Sr., the father of the Company’s current Chairman, and his brother, Thomas Vosbikian, Quickie has built a longstanding track record of category leadership, product innovation and dedication to customer service over ninety years. Today, Quickie produces and distributes a complete line of conventional household cleaning tools including mops, brooms, brushes, dusting tools and related accessories, and is a leader in its markets. With headquarters in New Jersey, Quickie also operates production facilities in Lumberton, North Carolina, El Paso, Texas, and Cadereyta, Mexico.
Quickie Chairman Peter Vosbikian Jr. said, “Our partnership with Centre represented a key step in Quickie’s evolution. Their expertise and support have been instrumental in facilitating Quickie’s growth and innovation over the last five years and have enabled the Company to reach its current inflection point and begin its next growth phase under Jarden’s ownership.”
Quickie President and Chief Executive Officer Michael Magerman added, “Quickie has continued to build on its legacy of growth and innovation with the help of Centre Partners and the guidance of the Vosbikian family, and today is experiencing significant momentum as a result. Quickie’s current management and employees will continue to manage the operations and are excited to build on recent momentum with the support and resources of a leading global consumer company like Jarden behind us.”
David Jaffe said, “This transaction concludes a highly successful investment for Centre Partners and validates our strategy of supporting the growth of leading middle market companies with proven management teams, strong brands, and solid operations. We credit the leadership of Quickie’s talented management team and employees, and are pleased they will have the opportunity to continue building the Quickie franchise with Jarden.”
Sawaya Segalas & Co., LLC acted as exclusive financial advisor to Quickie in connection with the transaction.
About Centre Partners
Centre Partners, founded in 1986, is a leading private equity firm with a middle market focus that seeks to make acquisitions and equity investments alongside management teams who have or desire a meaningful economic stake in the future success of their businesses. Centre Partners has invested over $3 billion in more than 90 transactions, partnering with management teams across a broad spectrum of industries. Centre Partners provides those teams with access to its unique resources, which include an extended network of experienced and proven operating executives. The firm is currently investing through its fifth fund and has over $1.5 billion in total assets under management. Centre has deep investment expertise covering consumer, healthcare, industrial products and services, financial services, energy, media, restaurants, retail, and aviation services. Additional information is available at www.centrepartners.com.
Based in Cinnaminson, New Jersey, Quickie Manufacturing Corporation is a leading designer, manufacturer and distributor of cleaning products for home and professional use. Founded in 1919, Quickie has longstanding relationships with leading North American retailers and has a strong history of innovation and new product development. For more information, please visit www.quickie.com.
Jarden Corporation is a leading provider of niche consumer products. Jarden operates in three primary business segments through a number of well recognized brands, including: Outdoor Solutions: Abu Garcia®, Aero®, Berkley®, Campingaz® and Coleman®, Fenwick®, Gulp!®, K2®, Marker®, Marmot®, Mitchell®, Penn®, Rawlings®, Shakespeare®, Stearns®, Stren®, Trilene®, Volkl® and Zoot®; Consumer Solutions: Bionaire®, Crock-Pot®, FoodSaver®, Health o meter®, Holmes®, Mr. Coffee®, Oster®, Patton®, Rival®, Seal-a-Meal®, Sunbeam®, VillaWare® and White Mountain®; and Branded Consumables: Ball®, Bee®, Bicycle®, Billy Boy®, Crawford®, Diamond®, Dicon®, First Alert®, Forster®, Hoyle®, Kerr®, Lehigh®, Leslie-Locke®, Loew Cornell®, Mapa®, NUK®, Pine Mountain® and Spontex®. Headquartered in Rye, N.Y., Jarden has over 25,000 employees worldwide. For more information, please visit www.jarden.com.