White Oak Provides $51.5 Million Commitment to HRB Brands to Finance Acquisition of Personal Care Brands From Helen of Troy

Rhea-AI Summary

White Oak Global Advisors announced a $51.5 million commitment for senior secured term debt financing to HRB Brands LLC for acquiring a portfolio of personal care brands from Helen of Troy Limited (NASDAQ: HELE). The acquisition includes well-known brands such as Brut, Pert, Sure, and Ammens. HRB, supported by Tengram Capital Partners, is a major player in North America's personal care sector, maintaining leading positions in hair care and skin cleansing. White Oak's financing aims to enhance HRB's portfolio and operational value.

Positive

• White Oak's $51.5 million financing supports HRB's acquisition of strong consumer brands.
• The acquisition strengthens HRB's market position within the personal care sector.
• HRB holds a diverse portfolio of reputable brands likely to drive revenue growth.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- White Oak Global Advisors (“White Oak”) is pleased to announce that it has provided a $51.5 million commitment to provide senior secured term debt financing to HRB Brands LLC (“HRB”) to effectuate their acquisition of a portfolio of personal care brands from Helen of Troy Limited (Nasdaq: HELE). The acquired portfolio includes the North American operations of 12 iconic and well-known brands such as Brut, Pert, Sure, and Ammens.

HRB, a portfolio company of Tengram Capital Partners (“Tengram”), is one of the largest independent branded personal care companies in North America. It holds leading market positions in the hair care and skin cleansing categories selling primarily to the Mass and Dollar channels. HRB’s existing portfolio includes iconic brands such as Zest, VO5, Coast, and LA Looks.

Andre Hakkak, CEO of White Oak commented, “White Oak saw this as an opportunity to partner with Tengram, one of the leading private equity groups focused exclusively on the consumer branded space, as well as with an experienced management team at HRB, led by its CEO Jim Daniels. HRB management has a demonstrated history of prior success with their well-known legacy brands and adding the strong brands acquired from Helen of Troy to the portfolio only enhances the overall value of the Company.”

Allan Marzen, Managing Director at White Oak added, “We are excited about the direction that Tengram and HRB management are taking the business and want to be a part of that success as their financial partner for many years to come.”

“We truly appreciated the professionalism and dedication that White Oak demonstrated throughout the process of our acquiring these exciting brands,” said Brian Cooper of Tengram. “They rode with us through the many twists and turns of the negotiations and at the end delivered on exactly what they said they would. We look forward to working with them as we grow HRB!”

About White Oak Global Advisors

White Oak Global Advisors, LLC (“WOGA”) is a leading alternative debt manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. Together with its financing affiliates, WOGA provides over twenty lending products to the market, including term, asset-based, and equipment loans, to all sectors of the economy. Since its inception in 2007, WOGA and its affiliates have deployed over $10 billion across its product lines, utilizing a disciplined investment process that focuses on delivering risk-adjusted investment returns to investors while establishing long term partnerships with our borrowers. More information can be found at www.whiteoaksf.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211103005053/en/

Spencer Tait

Prosek Partners (on behalf of White Oak Global Advisors)

pro-whiteoak@prosek.com

Source: White Oak Global Advisors, LLC

FAQ

What is the significance of White Oak's $51.5 million financing for HELE?

The financing supports HRB Brands' acquisition of a portfolio from Helen of Troy Limited, potentially enhancing HRB's market position.

Which brands are included in the acquisition deal involving HELE?

The acquisition includes well-known brands such as Brut, Pert, Sure, and Ammens.

How might the acquisition impact HRB Brands and its financial performance?

The acquisition is expected to strengthen HRB's portfolio, likely leading to improved revenue and market presence.

Who is involved in the acquisition from HELE to HRB?

The acquisition involves White Oak Global Advisors providing financing to HRB Brands, which is backed by Tengram Capital Partners.