Written on: May 31, 2016 by SprayTM
HandStands, manufacturer in the domestic automobile air freshener segment, announced May 24 that the company has signed a definitive agreement to be acquired by Energizer Holdings, Inc.
Founded in 1983, and headquartered in Draper, UT, HandStands is a designer and marketer of automotive fragrance and appearance productsrepresented by brands such as Refresh Your Car!, California Scents, Driven, Bahama & Co., LEXOL and Eagle One, which can be found in Mass, Grocery, Hardware and Automotive Parts retailers throughout the world.
Chris Anderson, HandStands’ CEO, stated, “Over the past several years, HandStands has become a leader in the Automotive Fragrance and Appearance markets through consistent organic growth, combined with three highly-complementary strategic acquisitions. HandStands and Energizer share a win-win culture, along with a long-term commitment to innovation. These shared traits, combined with the ability to leverage Energizer’s strong consumer insights, industry-leading innovation and global reach, positions HandStands’ brands for continued growth.”
Russ Wilson, Trivest Partner and HandStands Chairman, added, “We have been privileged to partner with the talented HandStands team over the past three years. HandStands’ focus on innovation, and partnership oriented approach with customers and suppliers, created a strong foundation for success. In addition to achieving organic growth, the HandStands team efficiently acquired and integrated complementary brand assets, more than doubling the Company’s revenue, EBITDA and addressable market. Energizer, with its global platform, is an ideal partner for HandStands to further capitalize on the Company’s leading market position, and execute on future growth opportunities.”
The transaction is subject to customary closing conditions, including regulatory approvals. The acquisition is expected to close in the third calendar quarter of 2016. Sawaya Segalas & Co., LLC, acted as exclusive financial advisor and Greenberg Traurig, P.A. acted as legal counsel to HandStands on the transaction. Citi acted as exclusive financial advisor and Bryan Cave LLP acted as legal counsel to Energizer on the transaction.
