NEW YORK, Aug. 7, 2024 /PRNewswire/ -- Avista Healthcare Partners ("Avista"), formerly Avista Capital Partners, today announced the completion of its acquisition of Trillium Health Care Products ("Trillium"), a leading contract development and manufacturing organization (CDMO) of branded over-the-counter ("OTC") products in North America, from New Water Capital. Transaction terms were not disclosed.
Based in Brockville, Ontario, Canada, Trillium is a trusted partner to leading North American and global consumer healthcare and pharmaceutical companies. Trillium is a differentiated development and manufacturing partner given its OTC specialization, technical expertise, formulation capabilities, and 30+ year track record for quality, service and regulatory compliance. The company offers broad development and manufacturing capabilities across liquid, semi-solid and solid dosage forms, with extensive experience in the largest therapeutic categories, such as cough and cold, dermatology, gastrointestinal, allergy, and dietary supplements.
Alex Yu, Partner at Avista, said: "Our acquisition of Trillium represents another exciting investment for Avista in the attractive consumer healthcare sector. Trillium is a best-in-class, full-service CDMO with an outstanding reputation in the industry. We had been tracking Trillium for a number of years prior to this acquisition, and are delighted to finally partner with Joe and the rest of the Trillium management team to help drive the next phase of the company's growth."
Joe Ruffo, CEO of Trillium, said: "We are thrilled to be partnering with Avista, a growth-oriented partner with sector expertise in consumer healthcare. We see significant market opportunities ahead for Trillium, and are excited to work with Avista to invest in growth and expand our footprint and capabilities to deliver even more value to our customers."
Fred Duchin, Avista Strategic Executive, said: "Trillium is truly a differentiated provider in the OTC CDMO industry. Their technical expertise, blue-chip customer base, portfolio of market-leading brands, and track record for quality and regulatory compliance is unique. Additionally, we see an opportunity to leverage Trillium as a platform for strategic acquisitions which will only enhance Trillium's value proposition to the industry."
Trillium is the sixth investment out of Avista's most recent fund, Avista Healthcare Partners III, following prior investments in WellSpring Consumer Healthcare, Taconic Biosciences, Spear Education, United BioSource, and Terrats Medical. Trillium is also Avista's sixth consumer healthcare platform. Current and former Avista consumer healthcare portfolio companies include WellSpring Consumer Healthcare and Arcadia Consumer Healthcare in North America, and Vision Healthcare, Cooper Consumer Health and Trimb Healthcare in Western Europe.
Kirkland & Ellis LLP served as legal counsel to Avista.
About Avista Healthcare Partners
Founded in 2005, Avista Healthcare Partners is a leading New York-based private equity firm with over $8 billion invested in more than 45 growth-oriented healthcare businesses globally. Avista partners with businesses across the healthcare space that feature strong management teams, stable cash flows and robust growth prospects – targeting businesses with clear scale potential across six sub-sectors experiencing strong tailwinds. The team is supported by a group of seasoned Strategic Executives enhancing the entire investment process through strategic insight, operational oversight and senior counsel that help drive growth and performance to create long-term value and sustainable businesses. For more information, visit www.avistahealthcare.com or follow Avista on LinkedIn.
Media:Daniel Yunger / Hallie WolffKekst [email protected] / [email protected]
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Based in Brockville, Ontario, Canada, Trillium is a trusted partner to leading North American and global consumer healthcare and pharmaceutical companies. Trillium is a differentiated development and manufacturing partner given its OTC specialization, technical expertise, formulation capabilities, and 30+ year track record for quality, service and regulatory compliance. The company offers broad development and manufacturing capabilities across liquid, semi-solid and solid dosage forms, with extensive experience in the largest therapeutic categories, such as cough and cold, dermatology, gastrointestinal, allergy, and dietary supplements.
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Alex Yu, Partner at Avista, said: "Our acquisition of Trillium represents another exciting investment for Avista in the attractive consumer healthcare sector. Trillium is a best-in-class, full-service CDMO with an outstanding reputation in the industry. We had been tracking Trillium for a number of years prior to this acquisition, and are delighted to finally partner with Joe and the rest of the Trillium management team to help drive the next phase of the company's growth."
Joe Ruffo, CEO of Trillium, said: "We are thrilled to be partnering with Avista, a growth-oriented partner with sector expertise in consumer healthcare. We see significant market opportunities ahead for Trillium, and are excited to work with Avista to invest in growth and expand our footprint and capabilities to deliver even more value to our customers."
Fred Duchin, Avista Strategic Executive, said: "Trillium is truly a differentiated provider in the OTC CDMO industry. Their technical expertise, blue-chip customer base, portfolio of market-leading brands, and track record for quality and regulatory compliance is unique. Additionally, we see an opportunity to leverage Trillium as a platform for strategic acquisitions which will only enhance Trillium's value proposition to the industry."
Trillium is the sixth investment out of Avista's most recent fund, Avista Healthcare Partners III, following prior investments in WellSpring Consumer Healthcare, Taconic Biosciences, Spear Education, United BioSource, and Terrats Medical. Trillium is also Avista's sixth consumer healthcare platform. Current and former Avista consumer healthcare portfolio companies include WellSpring Consumer Healthcare and Arcadia Consumer Healthcare in North America, and Vision Healthcare, Cooper Consumer Health and Trimb Healthcare in Western Europe.
Kirkland & Ellis LLP served as legal counsel to Avista.
About Avista Healthcare Partners
Founded in 2005, Avista Healthcare Partners is a leading New York-based private equity firm with over $8 billion invested in more than 45 growth-oriented healthcare businesses globally. Avista partners with businesses across the healthcare space that feature strong management teams, stable cash flows and robust growth prospects – targeting businesses with clear scale potential across six sub-sectors experiencing strong tailwinds. The team is supported by a group of seasoned Strategic Executives enhancing the entire investment process through strategic insight, operational oversight and senior counsel that help drive growth and performance to create long-term value and sustainable businesses. For more information, visit www.avistahealthcare.com or follow Avista on LinkedIn.
Media:Daniel Yunger / Hallie WolffKekst [email protected] / [email protected]
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SOURCE Avista Capital Partners
