Tilley Company, Inc., a United States-based distributor and service provider of specialty ingredients and a portfolio company of SK Capital Partners (SK Capital), has announced a merger with Phoenix Aromas and Essential Oils.
The combination of Tilley and Phoenix is designed to create a supplier of ingredients to better serve new and existing customers with laboratories, regulatory and technical support team and a global sales and customer service staff.
The combined entity enhances Tilley’s existing product portfolio of ingredients for applications in regulated markets. As experts in flavor and fragrance ingredients, Phoenix offers global market expertise, regulatory support and inventory supported by a global network of sales offices and warehouses.
As requests for sustainable and natural ingredients continue to grow, Phoenix remains committed to sourcing and distributing a high-quality portfolio of natural flavor and fragrance ingredients. The addition of Phoenix expands Tilley’s presence in sustainable ingredients, creating a leading offering of bio-based products derived from plant-based natural materials.
Kirkland & Ellis LLP acted as legal counsel to Tilley Company and committed debt financing was led by Madison Capital Funding LLC.
Jean-Paul Benveniste, president and CEO of the new organization, said, “The merger of Tilley and Phoenix brings together two dynamic and talented teams; both companies share complementary core values and strategic vision, and are fully committed to maintaining the very highest levels of quality, safety and customer service.”
Sean Tilley, COO and president, said, “Phoenix brings a high level of expertise to the flavor and fragrance markets by employing highly technical laboratory services and rigorous quality control measures. These high-touch services, when combined with reliable supply chain planning and strong supplier relationships, make the combined company a best-in-class source for specialty ingredients.
Randy Dearth, senior director at SK Capital, said, “Looking forward, Tilley-Phoenix Group plans to continue its pursuit of selective M&A focused largely on specialty products sold into regulated markets. We continue to focus on expanding the value-added platform, seeking targeted opportunities to enhance the value, quality, and breadth of solutions we bring to both customers and suppliers.”