July 1, 2014
American Securities Completes Sale of Healthy Directions to Helen of Troy for $195 Million
American Securities LLC, a New York-based private equity firm, today announced that it has completed the sale of Healthy Directions, LLC to Helen of Troy Limited for approximately $195 million. Helen of Troy is publicly traded on the NASDAQ (Ticker: HELE), and is a designer, developer and worldwide marketer of brand-name housewares, healthcare/home environment and personal care consumer products.
Healthy Directions was acquired by American Securities in August 2004. The Company is a leading direct-to-consumer retailer of doctor-formulated nutritional supplements and skincare products. Healthy Directions provides expert guidance and advanced nutritional supplements from some of America’s most knowledgeable and highly respected integrative- and alternative-health doctors.
David L. Horing, Managing Director at American Securities, said, “Our partnership with Connie Hallquist and the rest of the Healthy Directions management team has been fruitful.” Kevin S. Penn, Managing Director at American Securities, added, “We have worked together to expand Healthy Directions’ doctor brands and ensure strong customer retention.”
Connie Hallquist, CEO of Healthy Directions, stated, “Helen of Troy is an excellent long-term home for Healthy Directions. We have had a terrific partnership with American Securities and appreciate their support in helping us advance to new levels. We look forward to continuing to grow our business and serve our customers under this new ownership and partnership with Helen of Troy.”
Kaye Scholer LLP acted as legal advisor and Houlihan Lokey acted as exclusive financial advisor to American Securities and Healthy Directions.