CI Capital Partners divests KIK Custom Products

Private equity firm CI Capital Partners has divested its portfolio company KIK Custom Products to Centerbridge Partners for an undisclosed amount.

KIK Custom develops and markets pool and spa treatment products. It is said to be the largest independent manufacturers of household and personal care products in North America.

It is said to have doubled its revenue and diversified its business by executing several internal growth initiatives and the completion of several add-on acquisitions.

KIK Custom CEO Jeff Nodland said: "The completion of this transaction marks the conclusion of a tremendous partnership with CI Capital.

"CI Capital has supported us as we invested in the company’s organic growth, executed an M&A strategy and successfully expanded into new business lines.

"We look forward to continuing the Company’s growth trajectory with Centerbridge, and we will continue to provide the industry-leading service and expertise our customers have come to expect from us."

So far, CI Capital and its portfolio companies have made over 160 acquisitions representing close to $7bn in enterprise value.