A group formed by Caymus Equity Partners LLC (“CEP”), including CEP, Gemini Investors and management, recapitalized Phoenix Aromas & Essential Oils, Inc. (“Phoenix” or the “Company”) in a transaction that closed in January 2010.
The transaction allowed Phoenix to partner with two experienced private equity firms and provided all of the capital necessary to continue its growth and better serve its customers. CEP invested in junior capital comprised of subordinated debt, preferred stock and common stock of Phoenix to complete the recapitalization, which allowed management to take a distribution while maintaining significant minority ownership. Houlihan Lokey served as exclusive financial advisor to Phoenix during the transaction.
Phoenix was founded in 1994 by its current CEO, JP Benveniste, and his father. Phoenix is a leading flavor and fragrance value-added distributor that provides a broad portfolio of essential oils, aroma chemicals, and absolutes & oleoresins to a highly diverse base of leading consumer product and flavor and fragrance manufacturers. Using its substantial market knowledge and expertise in global sourcing, Phoenix sources its products worldwide and is a key strategic distribution partner for many of its suppliers. Phoenix’s flavor and fragrance components are used to create hundreds of end products in a variety of growing markets including food & beverage, fragrance, and personal care. Phoenix has maintained customer loyalty by offering a compelling value proposition based primarily on its distinctive ability to provide its customers with products of the right quality at the right time at the right price.
Caymus Equity Partners invests in profitable middle and lower-middle market companies in attractive niches with strong growth potential. Caymus Equity Partners focuses on opportunities where it can leverage its prior experience and creativity to generate substantial value through a combination of organic and strategic acquisition growth.