KDC and Cornell Capital have announced that a group of investors, led by the private investment firm has partnered with KDC and its management to fund the beauty and personal care product supplier’s next phase of growth. The investors include HabourVest Partners. Long-term KDC shareholders, Caisse de depot et placement du Quebec and Investissement Quebec will rollover a significant stake as part of the transaction.
“The investment from Cornell Capital comes at the perfect time for KDC,” said Nicholas Whitley, CEO of KDC. “Cornell Capital believes fully in the value that KDC’s unified capabilities provide to our customers. Its partnership with our existing management will provide KDC with the capital to continue our unmatched investment in top-tier product innovation and world-class manufacturing capabilities, as well as support our domestic and international growth strategy. This is a very exciting time for KDC, our customers and employees.”
Added Henry Cornell, or the eponymous private investment firm, “KDC fits seamlessly with Cornell’s strategy to invest in companies with excellent management teams and in industries that are thriving and poised for international expansion. We are impressed with the growth that the company has enjoyed under Nick’s leadership, and we have a shared vision for building on this strong trajectory. Everything at KDC is best in class – from its consistent investment in innovation, to its manufacturing capabilities, day-to-day execution, customer service and culture. Leveraging our global network, we look forward to working with management to help expand KDC’s operations, particularly in Europe and Asia.”