02 Aug Gardner Standard Announces Pharmacal’s Sale of vH essentials

Brooklyn, NY / August 1, 2024 – Gardner Standard LLC today announced the sale by Wisconsin Pharmacal Company, LLC (“Pharmacal”) of the vH essentials® brand to WellSpring Consumer Healthcare (“WellSpring”), a portfolio company of Avista Healthcare Partners.

Under Gardner Standard’s ownership of Pharmacal since 2020, vH essentials® experienced significant growth in the women’s health category, driven by its in-house innovation and marketing teams. Pharmacal strategically decided to divest vH essentials® to WellSpring, which owns brands that enjoy leading positions in important needs-based product segments such as therapeutic skincare, digestive health and women’s health. Pharmacal will continue to manufacture and distribute its portfolio of well-known brands, including MG217® psoriasis/eczema/first aid products, Potable Aqua® water purification products, Sting-Eze® insect bite relief products and Baitmate® fish attractants. Pharmacal is also rapidly growing its contract manufacturing services and unique consumer product formulations/product delivery systems for a growing number of branded and private label consumer products.

“The vH essentials product line is designed for every-day problem solutions, including protection (“Relieve”), daily support (“Maintain”) and clean and reset solutions (“Refresh”). The brand is well positioned in the women’s health marketplace and on a growth trajectory. The Pharmacal team looks forward to tracking vH essentials’ growth in the years ahead.” 

Heath Ashenfelter, CEO
Pharmacal

“We couldn’t be more pleased with our sale of vH essentials to WellSpring and are excited about the prospects for the brand going forward,” said Mike Healy, CEO of Gardner Standard. Board member David Apple added, “This sale is a great outcome for our shareholders and provides Pharmacal with a strong balance sheet to support the company’s growth initiative in the years ahead.”

Financial terms of the transaction were not disclosed.

About Pharmacal

Pharmacal is a diversified consumer products company that is FDA & EPA registered and manufactures and distributes long-established brands in the OTC Health/First Aid and Outdoor/Safety markets. Among its well-known brands are MG217® psoriasis/eczema/first aid products, Potable Aqua® water purification products, Sting-Eze® insect bite relief products, Persani® instant hand sanitizer and Baitmate® fish attractants. Pharmacal is also the official licensee of Coleman® insect repellents and Coleman® first aid products. In addition to its own portfolio of branded products, the company also provides strategic contract manufacturing services and unique consumer product formulations / product delivery systems for a growing number of branded and private label consumer products.

For more information, please visit www.pharmacalway.com.

About Gardner Standard

Gardner Standard is a private investment firm that invests in lower middle-market companies and traces its origin to a Minnesota-based, family-run business founded in 1884. Gardner Standard considers investments in a wide variety of market segments, including manufacturing, aerospace & defense, industrial services and engineered products. The fundamentals of a business, particularly its growth prospects and competitive position, are Gardner Standard’s focus rather than a specific market segment. In addition to traditional private equity investments, Gardner Standard targets opportunistic investments in high-quality operating businesses with low-quality balance sheets or operational challenges.

For more information, please visit www.gardnerstandard.com.