11.14.14
Private equity hopes to get a kick out of KIK. One of North America's largest manufacturers of household cleaning and personal care products, KIK Custom Products Inc., is exploring a sale that could value it at more than $1.5 billion including debt, according to Reuters.
The Concord, Ontario, Canada company, owned by private equity firm CI Capital Partners LLC, is working with Morgan Stanley on a sale process that is expected to kick off early next year, three people said this week.
KIK has annual earnings before interest, tax, depreciation and amortization of around $170 million, one of the people added.
The people declined to be named because the matter is confidential. Representatives for KIK and CI Capital Partners did not respond to requests for comment. Morgan Stanley declined to comment.
KIK generates more than $1.6 billion in annual sales and has more than 3,600 employees. Its network includes 16 manufacturing facilities across North America and South Africa. Earlier this year, KIK acquired the consumer products business of Chemtura Corp. for $300 million to expand its pool and spa chemical business. The company also bought Chem Lab Products Inc in June 2011, a chemical manufacturer for the pool, spa and retail household bleach market.
The Concord, Ontario, Canada company, owned by private equity firm CI Capital Partners LLC, is working with Morgan Stanley on a sale process that is expected to kick off early next year, three people said this week.
KIK has annual earnings before interest, tax, depreciation and amortization of around $170 million, one of the people added.
The people declined to be named because the matter is confidential. Representatives for KIK and CI Capital Partners did not respond to requests for comment. Morgan Stanley declined to comment.
KIK generates more than $1.6 billion in annual sales and has more than 3,600 employees. Its network includes 16 manufacturing facilities across North America and South Africa. Earlier this year, KIK acquired the consumer products business of Chemtura Corp. for $300 million to expand its pool and spa chemical business. The company also bought Chem Lab Products Inc in June 2011, a chemical manufacturer for the pool, spa and retail household bleach market.