Capstone Partners, advised Quest Products, Inc. (Quest), a leading consumer packaged goods (CPG) and e-commerce services company, on the acquisition of Clinere Products Inc. (Clinere). Prior to this transaction, Quest executives owned 15% of Clinere. Capstone helped Quest negotiate transaction terms and arrange acquisition financing.
Clinere was one of Quest’s earliest success stories. We jumped at the opportunity to buy the portion of the business still owned by its founder as we believe Clinere’s growth potential remains quite strong.
Clinere is a leading designer and provider of top selling, patent-protected ear wax removal tools. The Clinere ear cleaning tool removes ear wax, exfoliates ears and relieves ear itch. Products are distributed throughout the US and Canada in all major drug, grocery and mass retailers including Walmart, Walgreens, CVS, Target, Kmart, Kroger, and Amazon. Quest has been the exclusive distributor of the Clinere brand since 2003 and the brand has experienced double-digit growth in sales in each of the past five years.
Clinere joins the growing list of well-recognized brands fully owned and managed by Quest.
Ted Polk, Managing Director at Capstone, commented, “Quest is a true innovator in the CPG industry. Over the next few years, I think the business is very well positioned to continue growing via similar types of acquisitions.”