Holland & Hart represented Denver-based Scott’s Liquid Gold-Inc., a company that develops, markets, and sells high-quality, high-value household and personal care products nationally and internationally, in its acquisition of the Biz and Dryel specialty laundry products from CR Brands, Inc, for a base price of $9.25 million plus the brands’ finished goods inventory of approximately $1.2 million.
In connection with the acquisition transaction, Scott’s Liquid Gold entered into a new credit facility with UMB Bank used to finance a portion of the Biz and Dryel transaction, which includes a $7 million asset based revolving line of credit and a $3 million term loan, with current interest rates of 4.75% and 5.50%, respectively.
The transaction creates diversification of products and revenue stream for Scott’s Liquid Gold’s household segment product portfolio and national retail presence, as well as its loyal consumer following.
Holland & Hart’s transaction team was led by Amy Bowler, with assistance from Paige Coriden, Nate Davis, Sanna Deerrose, and Lindsay Silber.
Holland & Hart’s Mergers & Acquisitions team helps clients efficiently and effectively close M&A transactions, regardless of complexity, size, or industry.
For more information, please see the Scott’s Liquid Gold-Inc. press release.