Newport Beach-based private equity firm ClearLight Partners LLC has acquired Evriholder Products LLC, a household products manufacturer in Anaheim.
ClearLight has $600 million in assets under management. It typically makes investments that “range from $10 to $50 million of equity,” according to Managing Partner Michael Kaye. “This one was in the higher end of the range. It’s a good investment for us.”
Evriholder makes a variety of household goods and gadgets from vegetable peelers to toothbrush holders, a category of merchandise called “impulse” products.
“We are an industry leader in the impulse category,” Chief Executive Gary Seehoff said.
The company has its warehouses in Anaheim. It keeps sales offices in Los Angeles and other parts of the U.S., with about 100 employees nationally.
Evriholder also has showrooms in Hong Kong and mainland China, and distributes to Canada, countries in Latin America, Australia, Japan and parts of South Africa.
“All design, from cradle to grave, is done in Anaheim,” Seehoff said.
ClearLight’s Kaye said the fund sees “potential for strong growth” in the company. “Innovation is so important in today’s economy, and Evriholder is a great example of that.”
Evriholder places significant weight on “the new, unique and creative,” according to Seehoff. The company has a large product development and graphics team.
The investment by ClearLight comes as Evriholder aims to double in size in the next three to five years, Seehoff said.
The company’s annual revenue is more than $50 million, he said, and two recent acquisitions bring new potential for expansion.
Evriholder bought New York-based A. Aronson Inc. in January, a deal that included a host of licensed brands, including Campbell’s, Crayola, Eggo and other consumer products and packaged goods with familiar names.
Since then, Evriholder has expanded its licensing efforts to include the Sesame Street TV show and Nestle’s Nesquik chocolate mix.
Many of the licensed brands are seen on food storage containers made by Evriholder.
More recently, the company acquired Drake-Williams Consumer Products, a Sacramento-based company that makes bath and spa products.
“We are delighted to be partners with ClearLight,” Seehoff said. “They are a tremendous firm. And while geography isn’t everything, it’s nice to have them right here in our backyard.”
