New York-based venture capital and private equity firm Gardner Standard invested in Wisconsin Pharmacal Company and its wholly owned subsidiary Lake Consumer Products, Inc., the firm recently announced.
Jackson-based Wisconsin Pharmacal Company manufactures and distributes a variety of over the counter health, first aid, outdoor and safety products. Much of the company's products, including insect repellents, spray, pen delivery systems and first aid kits, are manufactured in a 75,000 square-foot facility in Jackson.
While the terms of the transaction were not disclosed, Gardner Standard typically seeks to control interests in small middle-market businesses. The private equity firm also pursues influential minority equity positions in its portfolio companies or debt investments with an equity component.
"Wisconsin Pharmacal is built on the values of hard work, continuous innovation, creativity, and commitment to our customers, employees and community,” Wisconsin Pharmacal Company chief executive officer John Wundrock said in a statement. “We have found a strategic, like-minded partner in Gardner Standard and we look forward to building on the momentum with a partner that can help us continue to focus on growth, product innovation, new product introductions, and strategic acquisitions."
Gardner Standard considers investments in multiple market segments including manufacturing, aerospace and defense, industrial services and engineered industrial products. The private equity firm has 7 companies in its portfolio, two of which are Wisconsin-based companies including McNally Industries, LLC in Grantsburg and Mid Valley Industries, LLC in Kaukauna.
Wisconsin Pharmacal Company’s roots trace back to a pharmacy co-op started in Milwaukee in the late 1800s. The modern incarnation of the company dates back to 1970, which is when Wundrock acquired the company.
Over the years, Wisconsin Pharmacal transitioned to an outdoor health and wellness company. Following a number of divestitures and acquisitions, the company makes a wide range of products led by Coleman-brand insect repellents. It also manufactures water purification tablets, fish attractants and treatments for eczema and psoriasis, as well as feminine hygiene products under its Lake Consumer Products subsidiary.