NEWPORT BEACH, CA September 12, 2011 – Private equity firm ClearLight Partners announced today that it has acquired an ownership interest in Evriholder Products, LLC, the leading provider of “impulse” purchase housewares. Evriholder’s extensive product portfolio spans the Storage & Organization, Cleaning, Bath & Personal Care, Barware, and Kitchen categories. Evriholder will use the investment from ClearLight to fund a range of growth initiatives, including new product and program development and acquisitions.
Gary Seehoff, CEO of Evriholder, commented “Working with Michael Kaye and Jay Shepherd of ClearLight Partners over the last few months has been wonderful. We are extremely impressed and grateful for the support and confidence they are showing in us; their resources are tremendous and we look forward to growing the Company strategically with their guidance.”
Ivan Stein, President of Evriholder, added “We could not be happier to partner with ClearLight. I believe they will add a new level of sophistication and professionalism to our company. We will also now have ample resources to continue developing a comprehensive range of market leading, proprietary ‘impulse’ products. This new investment by ClearLight should add a lot of fuel to our growth over the next few years.”
Jay F. Shepherd, the lead partner on the transaction, stated “Evriholder’s strong track record of developing unique, innovative products is very impressive. The Company has truly established itself as the premier provider of ‘impulse’ purchase housewares”.
Michael S. Kaye, Managing Partner at ClearLight, stated “We’ve been very impressed with Gary Seehoff, Ivan Stein, and the rest of Evriholder’s management team. We’re excited about working with them to continue their record of innovation, growth, and happy customers.”
Houlihan Lokey acted as financial advisor to Evriholder in the transaction.
Founded in 1995, Evriholder Products designs, develops and manufactures products for the Storage & Organization, Cleaning, Bath & Personal Care, Barware, and Kitchen categories. Headquartered in Anaheim, CA, Evriholder continues to introduce truly innovative, useful products – the kind consumers see and say “Why didn’t I think of that?” For more information, visitwww.evriholder.com.