Wellbeam Consumer Health has sold Penetrex to Carlin Consumer Health

Penetrex

Penetrex is a leading joint and muscle care brand trusted by millions of consumers. Its unique, proprietary formula is non-greasy, non-staining and paraben-free, and provides relief without burn, freeze or strong odor. Penetrex is the number one rated and best-selling joint and muscle care brand on Amazon, and benefits from a robust omnichannel distribution strategy that is anchored by key national retailers including Walmart, CVS and Walgreens. Consumers love Penetrex for its effectiveness and superior user experience, resulting in best-in-class satisfaction and loyalty. For more information, please visit www.penetrex.com.

The Deal

After years of superior growth and the implementation of several strategic growth initiatives for the Penetrex brand, Wellbeam Consumer Health, a portfolio company of American Pacific Group (APG), engaged Lincoln International as its exclusive financial advisor to find a partner that could support Penetrex’s next phase of growth.

Leveraging its deep industry knowledge and relationships with key industry participants, Lincoln ran a tailored, competitive process involving both strategic buyers and private equity (PE)-backed platforms, which could leverage own infrastructure and capabilities to drive superior value for the Penetrex brand. The process culminated with the sale of Penetrex to Carlin Consumer Health, a business focused on acquiring over-the-counter (OTC) brands and backed by Hildred Capital Management, Bourne Partners Strategic Capital and The Emerson Group.

This transaction continues Lincoln’s track record in consumer healthcare and its longstanding history of completing successful transactions for PE-backed companies. The terms of the transaction were not disclosed. For more information, please visit businesswire.com.

Chris Marschall, Chief Executive Officer of Wellbeam, commented,“The Lincoln team have been true partners to me and my team. Their industry insights and understanding of the business helped to showcase what makes Penetrex unique. Their commitment to achieve the best outcome has gone beyond what we expected.”

Our Perspective

Riccardo Cazzoli, Managing Director in Lincoln’s Consumer Group, stated, “APG and the management team of Wellbeam have done a great job at driving superior growth for Penetrex by successfully broadening the product offering and expanding its distribution footprint. Interest in Penetrex was strong, supported by the brand’s leadership on Amazon, its superior consumer satisfaction and strong financial performance. We are honored to have contributed to this successful outcome. Carlin and Hildred are the perfect new home for Penetrex. They bring tremendous industry knowledge and a vision to drive the continued success of the Brand.”

Wellbeam Consumer Health

Wellbeam is a diversified portfolio of differentiated wellness brands, including TruSkin, Eu Natural, and BioTRUST. Wellbeam is accelerating its brands by expanding on its eCommerce strength and leadership, building out a growing omni-channel retail presence, and launching meaningful new product innovation. Wellbeam brands aim to make a difference by enabling people to reach their wellness goals and live healthier lives. Wellbeam is backed by American Pacific Group. For more information, please visit www.wellbeam.com.

Carlin Consumer Health

Founded in 2022 and based in New York, New York, Carlin is a consumer health business uniquely positioned to acquire leading OTC brands. Carlin was formed by leading sponsors, Hildred Capital Management, Bourne Partners Strategic Capital and The Emerson Group. For more information, please visit www.carlinconsumerhealth.com.

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