Bridges Consumer Healthcare, Portfolio Company of Charlesbank Capital Partners, Acquires Clarion Brands from Swander Pace Capital

Chattanooga, TN – January 21, 2021 — Bridges Consumer Healthcare LLC (“Bridges”) has announced the acquisition of Clarion Brands, LLC, (“Clarion” or the “Company”) from Swander Pace Capital, adding to its platform of North American over-the-counter (“OTC”) consumer healthcare brands.

Chattanooga, TN – January 21, 2021 — Bridges Consumer Healthcare LLC (“Bridges”) has announced the acquisition of Clarion Brands, LLC, (“Clarion” or the “Company”) from Swander Pace Capital, adding to its platform of North American over-the-counter (“OTC”) consumer healthcare brands. Bridges was formed in November 2020 by industry veterans Robert Long (Chief Executive Officer) and Blair Ramey (EVP and Chief Commercial Officer) and Charlesbank Capital Partners, a leading private investment firm focused on the middle market. As part of its formation, Bridges acquired the North American rights to ThermaCare® HeatWraps (“ThermaCare”). With Clarion, Bridges diversifies its portfolio, adding several premier OTC brands with strong product differentiation.

Clarion is a scale OTC business anchored by premier brands that target specialty conditions. The brands include: Florajen, a line of refrigerator-fresh probiotic supplements designed to counter the gastrointestinal side effects of antibiotics and other digestive health conditions; Lipo Flavonoid, which helps ease the symptoms of tinnitus (ear ringing); and Certain Dri, the #1 doctor-recommended clinical antiperspirant for patients suffering from excessive sweating. The portfolio also includes Cystex, Albolene, Absorbine Jr. and Anti Monkey Butt, brands that have a loyal following and differentiated positioning in need-based categories. To provide each Clarion brand with the flexibility to engage in future strategic alternatives, each such brand will be held separately within the Bridges platform. All these brands maintain a diverse customer base and distribute broadly via food, drug, mass and online retail channels.

Mr. Long and Mr. Ramey will lead the combined business, leveraging their deep experience in re-invigorating healthcare brands through innovation, marketing and distribution expansion. “The acquisition of Clarion adds a diversified group of specialty OTC brands that will accelerate our growth objectives,” said Mr. Long. “The combined scale of ThermaCare and Clarion enables Bridges to realize efficiencies to better leverage our platform, positioning it for additional expansion opportunities. We thank Gary Downing, CEO of Clarion, and his entire team for developing the Clarion brands and preparing them for the next stage of growth.”

“The specialty conditions addressed by the Clarion brands fit really well with Bridges’ commitment to help people live life to the fullest,” stated Mr. Ramey. “Our team is excited about the opportunity to grow these brands while making a positive difference in people’s lives with new product introductions, greater consumer outreach and expanded distribution opportunities.”

“We have identified significant opportunity to capitalize on the heritage and momentum of the Clarion brands, and we look forward to leveraging our experience in the OTC industry to help them grow as part of Bridges,” said Josh Klevens, Charlesbank Managing Director. “Strategic acquisitions like this will be key to the success of Bridges as a leading consumer healthcare company.”

Weil, Gotshal and Manges served as legal counsel to Bridges and Charlesbank.

About Bridges Consumer Healthcare
Based in Chattanooga, Tennessee, Bridges was formed in 2020 as a partnership between Robert Long, Blair Ramey and Charlesbank. Bridges’ mission is to build a leading consumer healthcare company focused on OTC and personal care products and driven by consumer-led innovation and marketing. For more information, please visit www.bridgeschc.com.

About Charlesbank Capital Partners
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private investment firm managing more than $7 billion of capital. Charlesbank focuses on management-led buyouts and growth capital financings, and also engages in opportunistic credit investments. The firm seeks to build companies with sustainable competitive advantage and excellent prospects for growth. For more information, please visit www.charlesbank.com.

Media Contacts:

Charlesbank Capital Partners
Maura Turner, VP, Marketing & Communications
mturner@charlesbank.com
617-619-5457

Bridges Consumer Healthcare
Robert Long, Chief Executive Officer
robert.long@bridgeschc.com
423-414-2217


Charlesbank Forms Bridges Consumer Healthcare, Acquires ThermaCare from GSK Consumer Healthcare

BOSTON, MA – Nov. 30, 2020 – Funds affiliated with Charlesbank Capital Partners have announced the formation of Bridges Consumer Healthcare (“Bridges”) in partnership with industry executives Robert Long and Blair Ramey. Bridges will focus on acquiring companies and assets as part of a strategy to build a market-leading consumer healthcare platform.

BOSTON, MA – Nov. 30, 2020 – Funds affiliated with Charlesbank Capital Partners have announced the formation of Bridges Consumer Healthcare (“Bridges”) in partnership with industry executives Robert Long and Blair Ramey. Bridges will focus on acquiring companies and assets as part of a strategy to build a market-leading consumer healthcare platform. As part of its formation, Bridges has acquired the North American rights to ThermaCare® HeatWraps (“ThermaCare”) from GSK Consumer Healthcare (“GSK”). Launched in 2001, ThermaCare is a portfolio of clinically proven heat wraps offering targeted pain management solutions for different areas of the body.

“We are excited to be partnering with Robert, Blair and the Bridges team to build a leading consumer healthcare company,” said Josh Klevens, Managing Director at Charlesbank. “Robert and Blair have a proven track record of transforming over-the-counter (OTC) and personal care brands, and we see great opportunity to grow Bridges organically and through portfolio and single brand acquisitions like ThermaCare.”

Mr. Long and Mr. Ramey are industry veterans who worked together at Sanofi Consumer Healthcare (formerly Chattem, Inc.) since 2006 helping to deliver industry leading revenue growth over that time. Mr. Long has more than 20 years of industry experience, including as Chief Financial Officer and Chief Executive Officer of Sanofi’s North American Consumer Healthcare division, and will serve as President and CEO of Bridges. Mr. Ramey brings over 27 years of related experience, most recently as Head of Marketing and Innovation for Sanofi’s US Consumer Healthcare division; he will serve as Bridges’ Executive Vice President and Chief Commercial Officer. Mr. Long and Mr. Ramey bring with them other key executives with highly relevant experience and a track record of revitalizing and building numerous OTC and personal care brands.

“We are very happy to announce the partnership with Charlesbank, the formation of Bridges and the acquisition of the North American rights to ThermaCare,” said Mr. Long. “ThermaCare has a leadership position within the topical pain category, a loyal consumer base and a brand name with staying power that communicates efficacy. Strategic acquisitions such as this are a priority for Bridges, and we are looking forward to additional opportunities.”

“ThermaCare is a trusted brand that addresses the needs of millions of consumers looking for effective, drug-free solutions for relieving muscle pain and soreness,” stated Mr. Ramey. “With a strong presence in traditional food, drug, mass-merchant and e- commerce online channels, ThermaCare is well-positioned with the growth in self- directed treatment by consumers,” continued Ramey. “Brands such as ThermaCare that address unmet needs of consumers play well into our strategy of growing brands with innovation and advertising.”

Bridges builds on the deep industry expertise of Mr. Long and Mr. Ramey as well as Charlesbank’s experience in the OTC sector through its prior investment in Blacksmith Brands. Bridges will capitalize on compelling industry trends and intends to pursue additional acquisitions, including larger corporate carve-outs as well as the acquisition of individual brands.

Charlesbank was advised by William Blair & Company and legal counsel was provided by Weil, Gotshal & Manges LLP.

About Charlesbank Capital Partners: Based in Boston and New York, Charlesbank Capital Partners is a middle-market private investment firm managing more than $7 billion of capital. Charlesbank focuses on management-led buyouts and growth capital financings, and also engages in opportunistic credit and technology investments. The firm seeks to build companies with sustainable competitive advantage and excellent prospects for growth. For more information, please visit www.charlesbank.com.

About Bridges Consumer Healthcare: Based in Chattanooga, Tennessee, Bridges was formed in 2020 as a partnership between Robert Long, Blair Ramey and Charlesbank. Bridges’ mission is to build a leading consumer healthcare company focused on OTC and personal care products and driven by consumer-led innovation and marketing.

Media Contacts:

Charlesbank Capital Partners
Maura Turner, VP, Marketing & Communications
mturner@charlesbank.com
617-619-5457

Bridges Consumer Healthcare
Robert Long, Chief Executive Officer
robert.long@bridgeschc.com
423-414-2217