08.12.10
Trilantic Capital Partners is selling Phoenix Brands LLC, a consumer-products company that makes laundry detergents Fab, Dynamo and Ajax, according to two people with knowledge of the situation.
Trilantic, the former private-equity fund of Lehman Brothers Holdings Inc., hired Barclays Capital to run an auction, said the people, who declined to be identified because the process isn’t public. The auction is at an early stage, and Trilantic hasn’t yet received bids, the people said.
Phoenix Brands, based in Stamford, CT, was formed by Lehman Brothers Merchant Banking Group when it bought household brands from Unilever in 2004. Phoenix then acquired Colgate-Palmolive Co.’s North American detergent unit in 2005.
Mark Kollar, an outside spokesman for Trilantic, declined to comment.
Private-equity firms are selling holdings to return profits to investors and to persuade them to commit money to new deals. Trilantic last month agreed to sell tuna canner MW Brands Holdings SAS for 680 million euros ($882 million) to Thai Union Frozen Products Pcl.
So far this year, the volume of private-equity deals has almost doubled to $79.75 billion from $42.40 billion in the same period a year ago, according to data compiled by Bloomberg.
Trilantic, the former private-equity fund of Lehman Brothers Holdings Inc., hired Barclays Capital to run an auction, said the people, who declined to be identified because the process isn’t public. The auction is at an early stage, and Trilantic hasn’t yet received bids, the people said.
Phoenix Brands, based in Stamford, CT, was formed by Lehman Brothers Merchant Banking Group when it bought household brands from Unilever in 2004. Phoenix then acquired Colgate-Palmolive Co.’s North American detergent unit in 2005.
Mark Kollar, an outside spokesman for Trilantic, declined to comment.
Private-equity firms are selling holdings to return profits to investors and to persuade them to commit money to new deals. Trilantic last month agreed to sell tuna canner MW Brands Holdings SAS for 680 million euros ($882 million) to Thai Union Frozen Products Pcl.
So far this year, the volume of private-equity deals has almost doubled to $79.75 billion from $42.40 billion in the same period a year ago, according to data compiled by Bloomberg.