H2O Plus lapped up by investors
This article was originally published in The Rose Sheet
Executive Summary
Goldman Sachs Urban Investment Group and private equity firm Cordova, Smart & Williams announce acquisition of prestige natural skin-care maker H2O Plus from brand founder Cindy Melk May 29. Investment firms will enjoy joint ownership of the company; Melk will be retained as H2O's chief creative officer. "H2O Plus presented a unique opportunity to invest in a well-positioned, fast-growing brand-name company in the natural and organic personal-care products sector," says Michael Smart, managing partner at CSW. "We believe that aligning our capital and resources with H2O Plus' talented management team will position the company for future growth on a global basis." H2O was founded in 1989; it currently offers about 160 spa, skin-care and bath products in 18 countries, according to release. Brand's international distribution has grown 200% in past two years, and Goldman Sachs and CSW see significant further growth potential in Asia, Europe and Latin America...