Intrepid advises professional skin care pioneer Obagi Cosmeceuticals on its recapitalization and growth financing with The TCW Group
LOS ANGELES, CA / ACCESSWIRE / April 7, 2021 / Intrepid announced today that it will serve as exclusive financial advisor to Obagi Cosmeceuticals, LLC (Obagi) in connection with its recapitalization and growth financing. The financing facility was provided by the Private Credit Group of TCW Asset Management Company LLC (TCW), a leading private lender with over $ 5 billion in capital under management and specializing in providing secured loans from ranked first to borrowers in the US middle market. Obagi has raised $ 150 million in senior secured credit facilities to refinance existing debt and provide capital for growth through its domestic and international channels.
Obagi is an independent, female-led global skin care company dedicated to providing advanced, clinically proven skin care for all skin types. The company supplies more than 100 Obagi Medical® products to brighten, nourish, protect and improve skin tone and texture through an extensive network of distributors, partners, physician offices and spas around the world, as well as its new direct selling product – consumer platform (DTC) at Obagi.com. Obagi also offers state-of-the-art, dermatologist-tested formulas through its Obagi Clinical ™ line, available to consumers through Sephora.
“We were drawn to TCW because of their growth mindset and approach,” said Jaime Castle, President and CEO of Obagi. “We have an incredible market opportunity with our recently launched website and DTC strategy, our US retail partnerships and growth in key international markets, and we look forward to capital and support from the TCW team. Intrepid has done a phenomenal job of managing the process of making a deal and negotiating a deal that puts Obagi on the path to success. Their team understood how to position our company’s huge opportunity to secure a financing structure that far exceeded our expectations. “
“Obagi is led by a world-class management team with unmatched expertise in this segment,” commented Jonathan Zucker, Managing Director and Head of Capital Markets at Intrepid. “With the additional resources that this partnership with TCW brings, Obagi is well positioned to accelerate the execution of its strategic growth plan. We were honored to represent Jaime and the Obagi team in this important transaction for Intrepid’s Capital Markets and Beauty & Personal Care practices. “
With a 30-year heritage and a commitment to diversity and inclusion in all aspects of its business – from its corporate culture to product development – Obagi has pioneered several advancements in skin care, including being the first skin care brand to design its clinical research covering all six skin types across the Fitzpatrick skin spectrum. The company’s SKINCLUSION initiative, launched in 2019 with Ambassador Priyanka Chopra Jonas, was designed to “elevate the global dialogue on diversity and on how we can all make conscious choices to see beauty in all of our lives. differences ”.
Contacts of the transaction team
About Intrepid Capital Markets Group
For more than 35 years, our principals have advised our clients in capital transactions, leveraging their relationships with institutional investors and their expertise in managing competitive processes. Our team is committed to helping customers meet their capital needs through various structures that include equity, senior, structured and mezzanine debt.
About the beauty and personal care practice of Intrepid
Intrepid provides dedicated mergers and acquisitions and capital raising advisory services to Beauty and personal care industry. Focusing exclusively on beauty care businesses, our industry bankers have a deep understanding of industry trends and value drivers and maintain an ongoing dialogue with the universe of acquirers and investors. Our Beauty & Personal Care practice has a proven track record of helping clients sell to global strategic acquirers and value-added private equity groups in the beauty and personal care landscape.
THE SOURCE: Intrepid investment bankers
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