Lowenstein Sandler, LLP acted as legal advisor to Crown, while Hildred, Montreux, and Greenspring provided equity financing in connection with the transaction. Hayfin Capital Management, LLP continues to act as the debt financing provider to Crown. Crosstree Capital Partners New York, LLC and Latham & Watkins (London) LLP served as financial and legal advisors, respectively, to GlaxoSmithKline.
Crown Laboratories, Inc., a leading, fully integrated skin care company, has acquired the North American rights for Keri® from GlaxoSmithKline (“GSK”) and received an equity investment from Greenspring Associates, Inc.. Other current equity investors in Crown include Hildred Capital Partners, LLC and Montreux Equity Partners, LLC.
The acquisition of Keri from GSK marks the sixth product from GSK that Crown has acquired in the past five months. Keri has a long and successful history in the market, supported by dermatologists and healthcare practitioners across the world. Keri provides Crown with another major skin care brand with a rich heritage, that has provided elegant therapeutic formulations to consumers for decades.
Financial terms of the transaction were not disclosed.
Lowenstein advised Crown Laboratories, Inc. and Hildred Capital Partners LLC with a team including Herschel S. Weinstein (Picture), Sam E. Khan, Mitchell McDonald, James C. Shehan, Matthew P. Hintz, , Michael A. Buxbaum, , Matthew Tippy, Erica Perlmutter, Jeffrey M. Shapiro, and Jack Sidorov.
Involved fees earner: Michael Buxbaum – Lowenstein Sandler LLP; Matthew Hintz – Lowenstein Sandler LLP; Sam Khan – Lowenstein Sandler LLP; Mitchell McDonald – Lowenstein Sandler LLP; Erica Perlmutter – Lowenstein Sandler LLP; Jeffrey Shapiro – Lowenstein Sandler LLP; James Shehan – Lowenstein Sandler LLP; Jack Sidorov – Lowenstein Sandler LLP; Matthew Tippy – Lowenstein Sandler LLP; Herschel Weinstein – Lowenstein Sandler LLP;
Law Firms: Lowenstein Sandler LLP;