The Ultimate Shine
Invested Banker to the Consumer Industry
TARGET: Meguiar’s
OWNER/PARENT: Barry Meguiar/TSG Consumer Partners
SEGMENT: Home & Auto
CLOSING DATE: October 2, 2008
ROLE: Exclusive Financial Advisor

Meguiar’s, Inc. (“Meguiar’s” or the “Company”), headquartered in Irvine, California, is the leading marketer of premium automotive appearance products. The Company was founded in 1901 as a furniture polish company in the garage of Frank Meguiar, Jr. and began to focus on the automobile market with the arrival of the horseless carriage in the early 1900s. From his first bottle of furniture polish, Frank Meguiar, Jr. was steadfastly determined never to sell a product unless he was convinced it was the very best of its kind on the market. To this day, the Company follows that dictate and, as a result, has generated millions of enthusiastic users around the world.

Through the early years, Meguiar’s Mirror Glaze polishes and waxes, intended for professional use, were primarily used by car manufacturers, car dealers, body shops, and detailers. Car owners began to learn of Meguiar’s products at car shows in the 1960s and started asking retailers to stock Meguiar’s Mirror Glaze products. Barry Meguiar, Frank’s grandson, recognized the significant opportunity for Meguiar’s products in the retail market and led the Company to enter the retail market in 1973.

“Fuad and his team combine a deep knowledge of the consumer industry with creativity, off the charts intellect, a non-stop work ethic, and integrity. I trust the firm absolutely to realize the highest value for our assets.”


Under the leadership of Barry Meguiar, an icon of the global car hobby, the Company has strived to produce cutting edge ideas, products, services, programs, promotions, and experiences that overwhelmingly excite and unite car enthusiasts worldwide. The Company’s unique marketing model of targeting car enthusiasts through traditional and grassroots marketing creates a powerful bond with the core consumer. Its diverse multimedia marketing strategy includes Car Crazy radio and television programs, websites and internet forums, car hobby awards, and car show sponsorships (over 9,000 annually) in addition to traditional advertising.

Explains Barry Meguiar, “we are car guys who happen to be in the car wax business. The ultimate experience for us comes when our two passions merge in the exhilaration of “Best of Show” winners who are using our products.” As it happens, that is a regular occurrence. At the 50th Anniversary of the prestigious Pebble Beach Concours d’Elegance, the most famous car show in the world, 21 of the 25 Best of Class winners and the Best of Show winner all used Meguiar’s products to achieve their flawless perfection.

Today, Meguiar’s is one of the world’s leading surface care products companies, providing highly specialized products for almost every conceivable type of surface.

In August 2003, TSG Consumer Partners (“TSG”) became a part owner in the Company as a result of its purchase of equity from certain Meguiar family members who were seeking liquidity for their shares. From 2003 to 2008, the Company’s sales and profits experienced steady growth as a result of the introduction of new products, increasing market share and explosive international expansion. In early 2008, Barry Meguiar and TSG made the decision to interview selected investment bankers to serve as the Company’s advisor in connection with a possible sale or recapitalization transaction.

Sawaya Partners’ credentials for this assignment were second to none. Fuad Sawaya served as the lead banker in the sale of Armor All Products Corporation to The Clorox Company as well as the sale of Prestone Products Corporation to AlliedSignal. These two transactions represented the largest and most visible M&A transactions completed in the car care segment. In addition

Sawaya Partners is one of the leading M&A advisors to household products and DIY companies, representing Orange Glo International in the sale to Church & Dwight Co. and Bissell Inc. in its acquisition of Woolite Rug and Upholstery Cleaner, among other transactions. In April 2008, Sawaya Partners was engaged by Meguiar’s as its exclusive financial advisor to conduct a highly discreet and expeditious sale process.

The transaction represented a strategic inflection point in Kaz’s evolution. The partnership with Braun expands the Kaz product portfolio, increases its international presence, particularly in Europe, and establishes a platform for further organic and external growth in the health & wellness category.

  • On September 8, 2008, 3M announced that it had entered into an agreement to acquire Meguiar’s, Inc. subject only to regulatory approvals. The terms of the transaction were not disclosed
  • On October 2, 2008, the transaction closed after regulatory approval
  • Barry Meguiar joins the 3M Automotive Aftermarket Group as a key marketing and product development executive for 3M’s worldwide operations
  • TSG successfully realized an attractive return on its investment in Meguiar’s over its five year holding period
  • The orchestration and results of this transaction were viewed by Barry Meguiar, TSG and 3M as a win-win-win outcome