WEST WARWICK – A Connecticut private equity firm has acquired beauty and personal care manufacturer Bradford Soap International Inc., the companies announced on Thursday.
Gemspring Capital Management LLC, based in Westport, Conn., acquired the company for an undisclosed value. Terms of the deal were not disclosed.
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The West Warwick manufacturer, which also develops and formulates its products, was founded in 1876 and is known for an emphasis on organic products and environmental sustainability efforts. As of last year, Bradford had 350 employees.
In addition to its Rhode Island headquarters, Bradford also has facilities in Columbus, Ind. and Calexico, Calif.
In a statement, Bradford CEO and President Stuart R. Benton said the company is “pleased to have found an engaged and knowledgeable partner like Gemspring who shares our vision and has a proven track record of partnering with entrepreneurial teams to build high-growth companies.
“In this next phase of growth, we look forward to broadening both our capabilities and product portfolio while further establishing our position as the manufacturing and development partner of choice to leading beauty and personal care brands,” he continued.
Benton could not immediately be reached for further comment.
Kristin Steen, managing director at Gemspring, said in a statement that the company was impressed by Bradford’s “market-leading and differentiated capabilities … built over its long, successful history.
“We’re excited to partner with Stu and the entire management team to build on Bradford’s unparalleled product quality to accelerate the company’s growth,” Steen added. “In addition to a number of compelling organic growth initiatives, we intend to expand the platform through strategic opportunities to extend the capabilities and product offerings Bradford can provide its brand partners.”
Jacquelyn Voghel is a PBN staff writer. You may reach her at Voghel@PBN.com.
