TruArc Partners (US), a private equity firm focused on middle-market control investments, has acquired DMI Personal Care (US) in a buyout to build a beauty and personal care contract development and manufacturing organization (CDMO). The deal closed on December 5, 2024.
| Acquirer | TruArc Partners (US) |
| Target | DMI Personal Care (US) |
| Type of deal | Buyout |
| Deal value | Undisclosed |
| Close date | December 5, 2024 |
| Announcement date | December 5, 1024 |
| Buy-side financial advisors | Guggenheim Securities, Raymond James |
| Sell-side financial advisor | Slane Hill Capital |
| Buy-side legal advisors | Weil Gotshal & Manges |
| Sell-side legal advisors | Akerman |
Deal Mechanics:
The deal involves TruArc Partners acquiring 100% of DMI Personal Care, a leading contract developer and manufacturer of beauty and personal care products. The investment will help establish a national footprint for the combined entity through strategically located facilities on both coasts.
Strategic Rationale:
The acquisition aligns with TruArc Partners' strategic goal to build a comprehensive CDMO platform focused on skincare, bodycare, color cosmetics, and haircare categories. DMI's 320,000-square-foot FDA-regulated facility in Wharton, NJ, complements the capabilities of Trademark Cosmetics, a portfolio company owned by TruArc.
Financial Context:
The transaction will enable both companies to expand their service offerings and enhance their production capacity. DMI Personal Care's strong customer relationships and innovative product development capabilities will support TruArc's growth strategy in the beauty and personal care sectors.
Advisors:
Guggenheim Securities and Raymond James acted as financial advisors for TruArc Partners, while Slane Hill Capital advised DMI Personal Care. Legal counsel was provided by Weil Gotshal & Manges for the buy-side and Akerman LLP for the sell-side.
Outlook:
TruArc Partners plans to support further growth through both organic initiatives and additional acquisitions that enhance the combined entity’s geographic reach and capabilities. The partnership is expected to drive continued innovation and service improvements for their customers.