JPB Capital Partners Put $6M into Ilex Acquisition Deal – cbl

James R. Boulduc

By citybizlist Staff
COLUMBIA, Md. — Columbia-based private equity firm JPB Capital Partners II, L.P., led by James R. Bolduc, contributed $6 million to support the acquisition of Johnson & Johnson’s St. Joseph Aspirin brand by Ilex Consumer Products Group, Inc. (Ilex CPG).

The financial specifics of the deal, which citybizlist reported on nearly 3 weeks ago, were disclosed in an SEC filing. At the time, JPB Capital only announced that it made a “significant equity investment” in Ilex Consumer Products Group.
Named in the filing were Ilex CPG President and COO Robert Bailey; CFO Bradley J. Brommer; and directors Bolduc andGreg C. Carey, JPB Capital Partners; and Richard Foster andJoseph Mathews, of Annapolis-based Ilex Capital Group.

The filing notes that $500,000 was paid to each of two directors/executive officers pursuant to a stock redemption agreement with the company.
Ilex CPG purchased the popular aspirin brand from the McNeil Consumer Healthcare Division of McNeil-PPC, Inc., part of Johnson & Johnson. The company will be based in Baltimore. JPB Capital and Ilex Capital Group, Ilex CPG’s original financial sponsor, will have majority ownership of the company.

Bolduc, chairman and chief executive officer of JPB, was a Presidential Appointee to U.S. Presidents Nixon, Ford and Reagan; a co-founder with William E. Simon, Sr. (former U.S. Secretary of the Treasury) of private equity firm Catterton-Simon Partners; and President and Chief Executive Officer, W. R. Grace & Co., along with senior executive positions and board directorships at numerous organizations.
Mathews and Foster founded Ilex Capital in 2006. Mathews was a Partner at the investment banking firm, Clearview Partners, while Foster was CFO of Lightningcast, Inc., a media company based in Baltimore, acquired by AOL.

Ilex Consumer Products Group owns brands in the health, beauty and over-the-counter (OTC) pharmaceutical sector. Calgon® and the Healing GardenTM are two of its brands.

SEC filing:

Gregory C. Carey, Partner and Director of JPB Strategic Advisors
As Partner and Director of JPB Strategic Advisors, Mr. Carey brings over 30 years experience in mergers, acquisitions and senior operations management to the company.

He has successfully completed M&A transactions in a number of industries including food processing, chemicals, construction, engineering, medical, textile, restaurant, retail, and distribution. Additionally, Mr. Carey serves as Managing Director for JPB Capital Partners II and Vice President, Private Equity for JPB Enterprises, Inc. and serves as Chairman of the Greene Turtle Franchising Corporation.
Mr. Carey joined JPB Enterprises in 1998 and has participated in and led more than 35 financial advisory assignments with an aggregate value of over $1 billion, and more than 15 strategic-growth consulting assignments for lower-middle market companies in the Mid-Atlantic and Southeastern U.S.
Prior to joining JPBE, Mr. Carey was a Director of Mergers and Acquisitions for Townsend, Inc., a privately owned processor of prepared foods. Prior to Townsend, he served in various capacities with W.R. Grace & Co., including President of Grace Culinary Systems, and President of American Café Restaurants. Mr. Carey was also actively involved in a broad range of acquisitions and divestitures at W.R. Grace as a Senior Assistant to the Chairman.
Mr. Carey earned a Bachelor of Arts degree in Political Science from Trinity College and a Master of Business Administration from the New York University Graduate School of Business.–cbl.aspx