Stout has advised Jade Road Design & Sourcing (“Jade Road” or the “Company”) on its sale to Voyant Beauty (“Voyant”), a portfolio company of Wind Point Partners (“Wind Point”). The transaction closed on May 5, 2023. Stout served as the exclusive sell-side financial advisor to Jade Road in connection with the transaction.

Based in Connecticut, Jade Road is a rapidly growing supply chain solution provider for the fragrance packaging industry. Since its inception in 2011, the Company has evolved into a leading and award-winning turnkey solution provider with end-to-end capabilities across the complex fragrance supply chain. Jade Road’s design, engineering, and procurement services deliver surety of proper assembly, reduced lead times, and significant cost savings for top customers and brands in the fragrance industry.

Founded in 1989, Voyant Beauty is a leading, full-service partner to the personal care and beauty industry serving customers at every stage of the brand lifecycle. Headquartered outside of Chicago, Voyant’s integrated network of innovation and manufacturing facilities deliver responsive solutions and increased speed to market. The acquisition of Jade Road broadens Voyant’s offering in fragrance and adds complementary sourcing, design, and packaging engineering capabilities. The combination establishes a unique, vertically integrated solution for the fragrance industry. The Jade Road transaction marks the fourth acquisition for Voyant under Wind Point ownership.

Wind Point Partners is a Chicago-based private equity investment firm with approximately $5 billion in assets under management. Wind Point focuses on partnering with top-caliber management teams to acquire well-positioned middle-market businesses where it can establish a clear path to value creation. The firm targets investments in the consumer products, industrial products, and business services sectors.

Bill Babuschak, President of Jade Road, said, “We are thrilled about partnering with Voyant. Our combined offering creates a truly full-service solution across the fragrance supply chain, and we believe the scale of the Voyant network will be a meaningful growth enabler for Jade Road. We thank Stout for its excellent work executing the transaction and identifying the right strategic partner for Jade Road and its management team.”

Richard McEvoy, CEO of Voyant, said, “Jade Road has developed high-value-add capabilities across multiple fragrance packaging formats. The Company’s outsourced service model is becoming increasingly critical as leading fragrance brands continue to value partners that act as a true extension of their supply chain. We are very excited about the partnership and look forward to Jade Road’s continued success under Voyant ownership.”

David Stott, Managing Director at Wind Point, said, “Adding complementary supply chain capabilities through M&A has been a key pillar of the Voyant value creation plan. The acquisition of Jade Road is closely aligned with this strategy, and we look forward to supporting the growth of the combined businesses.”

Kevin Manning, President of Investment Banking at Stout, led the transaction. Manning said, “We are excited with the outcome for all parties involved in this successful transaction and look forward to the continued growth and future success of Jade Road in partnership with Voyant. We were mandated to find the best fit acquirer for Jade Road and its management team and feel we have achieved that through this transaction.”

Stout’s Brian Baker, Michael Brocious, Jake Kussin-Bordo, Natalie Walgren, and Garrett Reich assisted in the execution of the transaction.

Berkowitz, Trager & Trager served as legal counsel to Jade Road. Kirkland & Ellis served as legal counsel to Voyant and Wind Point.

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